Helping the C-Suite Sleep More Easily – Reducing Risks and Ensuring the Integrity of the Close: Trintech

“It’s not what I know that keeps me up at night, it’s what I don’t know and the impact it could have on our business.”

As organizational environments increasingly become more complex, compliance-focused and technology-driven, the C-Suite has even greater pressure to ensure the integrity of the financial close. It’s easy to say that it won’t happen to us, but failures in the close process result in, at best, time consuming rework and at worst, materiality issues that can lead to misstatements, restatements, decreased valuations and maybe even personal liability.

Too often, CEOs struggle with the perceived lack of support they receive from the rest of the C-Suite in terms of visibility to core company risks and the lack of actionable intelligence to drive strategic decisions. The fact is that the majority of enterprise organizations simply aren’t in a position where they can assuredly state what lies in the various corners of the
business.

Growth through mergers/acquisitions and historic local purchasing decisions have meant that the technology landscape for most organizations have become a hotchpotch of ERPs and other point solutions. This leads to increased risks and sleepless nights for both the C-Suite and the employees tasked with delivering the numbers each period end.

What is required is akin to a torch, a solution that can shine through this confusion and illuminate all those previously unseen dark corners. A solution that can provide visibility and control from the time a transaction occurs through to the company’s
financial statements being issued, from the account reconciliation, through close management and financial reporting, to compliance and regulatory filings – all in a single view.

Since its inception, this vision has driven Trintech’s automation delivery, leading them to be the most trusted provider of financial software solutions to help customers optimize resources, reduce costs and improve governance and transparency across their financial close process.

A Single View across the Financial Close
Trintech’s enterprise-class cloud-based solution, Cadency^®, is the world’s first and only financial governance software solution on the market that weaves all of the Record to Report (R2R) activities into a single, seamless process. From orchestrating all the close tasks and activities to automating journal entries, from high volume, intercompany and balance sheet reconciliations to ensuring compliance standards are met, Cadency manages the entire R2R cycle end to end.

With Cadency, finance executives can succeed in a changing environment by exhibiting controlled agility – “controlled”, to ensure the highest level of data accuracy and integrity in financial close data, and “agility”, to adapt to and meet organizational changes that mitigate risk. This single end-to-end solution delivers real-time visibility into the financial close for the C-Suite, producing data-driven insights to propel strategic growth.

With all this information in one place, an executive console delivers real-time transparency and instant visibility to senior executives, enabling them to oversee the current status, and make decisions and deliver actions before they impact the numbers. This also allows all financial close stakeholders across the organization (and around the globe) to easily communicate and collaborate, creating real-time communities across the Office of Finance.

The Client Dimension
Over 1,700 clients worldwide, including Uber, Verizon, Costco, Walgreens, HP, BAE Systems, Yahoo, FedEx, Lockheed Martin, Coca-Cola, Nationwide, Siemens, Ralph Lauren, AstraZeneca, and many more, have placed their trust in Trintech to boost their overall performance. Trintech’s enterprise-class solutions target the finance and accounting departments of companies spanning across every industry vertical and territory across the globe.

“Trintech was the best choice for us based on their ability to handle extremely complex, multi-stage reconciliation processes. We’ve been able to reduce the number of associated staff by 50%.” – David Potts, Finance Director, Lloyd’s Bank Asset Finance Ltd

“Trintech helps us maintain consistent and disciplined accounting processes. The product’s paperless, on-line environment not only drives cost savings, but also provides the necessary visibility and transparency needed in today’s complex and compliance-focused climate.” – Mary Ferry, Director, Financial Accounting, ConAgra Foods

“We wanted a controlled environment that gave us the ability to report effectively and efficiently on various operations. The right choice for us meant that we choose a solution not just for today, but also one that we could leverage and scale as needed in the future. That solution was Cadency.” – Bob VanDeVeire, Corporate Controller, Ports America

Meet the CEO of Trintech

Teresa Mackintosh, CEO:
Teresa has over 20 years of experience working with the Accounting, Tax and Finance functions of companies world-wide, and helping them to be a catalyst for organizational innovation.

Mackintosh has held several senior leadership roles at Wolters Kluwer and Thomson Reuters for the past twenty years. She has been named as one of the “Top 100 Most Influential People in Accounting,” and has also been named to the “Most Powerful Women in Accounting” list every year since 2012. Mackintosh is a CPA, and began her career as a Tax Consultant for Price Waterhouse. Mackintosh received her Bachelor’s degree in Business Administration and an MBA from the University of Michigan’s Ross School of Business.

“Our financial software solutions provide your finance organization with increased efficiency, visibility and control.”