Unity 10.1 Integrates AssureNET GL with Financial Close to Improve
Management Oversight of Period-End Close Processes and Expands XBRL
Capabilities to Ensure Financial Reporting Accuracy
DALLAS and DUBLIN, Ireland, July 21 /PRNewswire-FirstCall/ -- Trintech
Group Plc (Nasdaq: TTPA), a leading global provider of integrated financial
governance, transaction risk management, and compliance solutions, today
announced the newest release of its best-of-breed financial governance
application suite for enterprise risk management, accounting compliance,
account reconciliation, financial close, and financial reporting. Unity
10.1 delivers enhanced management oversight capabilities of the
reconciliation processes as they pertain to period-end financial close and
reporting processes. Additionally, enterprises may produce eXtensible
Business Reporting Language or "XBRL" compliant financial reports via the
One Button Publisher capability.
The integration of Unity Financial Close and AssureNET GL represents
one of many innovative product initiatives Trintech has undertaken since
the acquisition of Movaris in February 2008. Financial Close provides an
enterprise management and compliance framework for the financial close
process, including integration of related compliance and risk and financial
reporting activities. AssureNET GL automates the review, approval, and
status tracking of account reconciliations and through Financial Close will
provide a management view of account reconciliation status across an
enterprise. Within Unity 10.1, the Financial Close application serves as
the integration point through which account reconciliation statistics from
AssureNET GL are displayed via the Close Task Status Console.
In response to the recent SEC proposal which will require companies to
provide financial statement information in a format that will improve its
usefulness to investors, Trintech has enhanced Unity's current eXtensible
Business Reporting Language or "XBRL" format tagging capabilities to
support the creation and export of XBRL-compliant financial reports. In
addition to producing a company's Disclosure Index (e.g., 10-Q, 10-K, 20-F)
in MS Word format, via Unity's One Button Publisher capability, Unity 10.1
delivers an additional option to output a Disclosure Index in XBRL format
for review within off-the-shelf XBRL-ready viewers or Edgarizing software
tools.
"XBRL is currently not a mandatory requirement of the SEC, though the
regulatory agency is looking at implementing financial reporting standards
that include XBRL input and output. This will require firms to implement
solutions for deploying XBRL for statistical reporting, regulatory
financial reporting, tax reporting, and management reporting," said Gartner
Research Vice President, John Van Decker. "XBRL will enable the office of
finance to shift the finance function; it's through this technology that
data can be extracted, aggregated, consolidated, analyzed, and extrapolated
with greater consistency."
"We're very excited about the release of Unity 10.1. By using Unity,
organizations can automate the processes of financial data collection. The
use of XBRL will provide major benefits in the preparation, analysis, and
communication of information through cost savings, greater efficiency, and
improved dependability for all involved in supplying or using financial
data," said John Harte, EVP and General Manager for Trintech. "The
management of the entire close process, including account reconciliation
activities (via the integration of AssureNET GL with Unity) is one more
product development milestone for Trintech, which has been providing
best-of-breed financial governance applications for 20-plus years."
About Trintech Group
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 http://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.
Trintech - 15851 Dallas Parkway, Suite 900 - Addison, TX 75001 - Tel 1
972 701 9802
Trintech UK Ltd. - Warnford Court, 29 Throgmorton St. - London EC2N2AT,
UK - Tel +44 (0) 20 7628 5235
Trintech Technologies - Block C, Central Park - Leopardstown, Dublin
18, Ireland - Tel +353 1 293 9840
Trintech - Cypresbaan 9 - 2908 LT Capelle a/d Ijssel, The Netherlands -
Tel +31 (0) 10 8507 474
Trintech Press Contact:
Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email: donna.martinez@trintech.com
Available Topic Expert(s): For information on the listed expert(s), click
appropriate link.
George Santillan
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=71376
John Harte
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=72105
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