Trintech Group Plc (Nasdaq: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, has announced that BAE Systems Shared Services has selected AssureNET GL to increase the timeliness and accuracy of their balance sheet account reconciliations. AssureNET GL is an automated reconciliation software system that performs this critical business function, while ensuring internal controls and compliance.
BAE Systems, with operations across five continents and customers and partners in more than 100 countries, develops, delivers, and supports advanced defence and aerospace systems in the air, on land, and at sea.
"AssureNET GL will provide us with better visibility and control. We're adopting what we believe is a best practice solution to strengthen our control processes," said BAE Systems' Richard Rowe, Financial Controller, Accounting Services. "Our future plans include the extension of the application to underpin our Financial Controls Framework through AssureNET GL's task management workflow."
AssureNET GL provides distinct workflow management for balance sheet account reconcilers, reviewers, and approvers. Time-consuming tasks such as the notification and tracking of accounts and deadlines are automated, and AssureNET GL's risk management features enable detailed analysis, reporting, and documentation of current and potential risk. Companies that migrate to AssureNET GL from manual, spreadsheet-driven processes that rely heavily upon paper and email have realized an increased confidence when certifying financial results.
"This is a significant win for Trintech. We're delighted BAE Systems Shared Services selected AssureNET GL to automate the preparation, tracking, review, and assessment of account reconciliations," said Tony Bethell, VP EMEA for Trintech. "They're taking an innovative approach to strengthening controls while simplifying account reconciliation processes across their enterprise."
BAE Systems is the premier global defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions, and customer support services. With 96,000 employees worldwide, BAE Systems' sales exceeded £15 billion (US $27 billion) in 2006*.
* On a pro forma basis, assuming BAE Systems had owned Armor Holdings Inc for the whole of 2006.
Trintech Group Plc (NASDAQ: TTPA) is a leading global provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech's recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.
Over 600 leading global organizations realize the benefits of Trintech's configurable and highly scalable solutions everyday, including 7-Eleven, Accenture, Allianz Life North America, Ameren, Bank of Nevada, eBay, Farmer's Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands Restaurants.
Trintech's technology enables our customers to ensure their internal financial processes are optimized, improve performance through stronger management of revenue and cost cycles, ensure the accuracy and integrity of financial data, improve the quality and efficiency of the financial close process, as well as reduce the risk of material weaknesses and restatements.
For more information on how Trintech can help you increase confidence in business performance and reduce financial risk, please contact us online at www.trintech.com or at our principal business office in Addison, Texas, or through an international office in Ireland, the United Kingdom, or the Netherlands.
