News
Trintech and Prodiance to Deliver Best in Class Solution for Spreadsheet Risk Mitigation to the European Market
San Ramon, California and London, UK / Dublin, Ireland. – September 17, 2007 – Prodiance Corporation, the leading provider of solutions for financial spreadsheet remediation and control, today announced that it has expanded its partnership with Trintech Group Plc (NASDAQ: TTPA), a leading provider of integrated financial governance, risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide, to deliver the XLNET spreadsheet risk and compliance management solution to the European market.
For enterprises and financial institutions seeking to mitigate operational spreadsheet risk, wherein there exists –
- Complex spreadsheet models with the potential for errors
- Little version control to maintain historical data
- Minimal archival capability for business continuity
- Arbitrary change management
- Lack of security control to enforce segregation of duties and responsibilities
– there is now an automated solution, XLNET, that enables financial managers to:
- Discover and inventory critical spreadsheets
- Identify risk conditions and remediate errors
- Audit changes down to the cell level
- Automate spreadsheet review and approval workflows
- Reconcile, review, and certify spreadsheet results
- Track the entire process from beginning to end
XLNET, based on enabling technologies from Prodiance, is a market-leading spreadsheet inventory, analysis, control, reporting, and auditing solution that is intuitive and easy-to-use. The application complements Trintech’s AssureNET GL and ReconNET reconciliation software solutions to provide enterprises with a compliance framework for managing critical spreadsheets associated with account reconciliation, financial reporting, budgeting, forecasting, revenue recognition, trading operations, risk and uncertainty analysis, and other key financial processes.
“The solution can be implemented and operational within a few days,” said Dr. Soheil Saadat, President and CEO at Prodiance. “Through its web-based, zero client footprint, the solution eliminates the change impact to end users and delivers an architecture that is IT friendly and suitable for global rollouts.”
“We have worked with over 500 global customers to drive successful implementation of our accounting compliance solutions, and we’re confident that XLNET will help financial services institutions in Europe achieve higher levels of efficiency and control,” said John Harte, EVP and General Manager for Trintech. “We’ve developed a clear competitive advantage by providing customers with solutions that meet their strategic objectives, in turn driving positive business outcomes.”
About Prodiance
Prodiance delivers enterprise class software solutions to help organizations
increase visibility and control over business critical spreadsheets and Access
Databases while improving compliance and mitigating operational risks. Prodiance
leverages over 17 years experience in delivering innovative technology solutions
for highly regulated markets. Leading global organizations across the banking,
insurance, capital markets, telecommunications, manufacturing, aerospace and
defense, media and entertainment, food and beverage, health care, and
educational markets have trusted Prodiance as a strategic partner to achieve
their goals. Prodiance Corporation is an independent, privately held corporation
based in San Ramon, California. Additional news and information about Prodiance
solutions, products and services is available at www.prodiance.com or by calling 1-866-569-5678.
About Trintech Group
Trintech Group Plc (NASDAQ: TTPA) is a leading provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech’s recognized expertise in reconciliation underpins its suite of financial governance solutions, enabling businesses to address critical business objectives leading to more informed decision making and better overall business performance.
Over 500 leading global organizations, including – North Fork Bank, 7-Eleven, Kroger, Regal Entertainment, Accor, UPMC, Farmer’s Insurance Group, YUM! Brands Restaurants, Rohm and Haas, Verizon Wireless, and Ameren – realize the benefits of Trintech’s configurable and highly scalable solutions everyday to: improve performance through stronger management of the revenue cycle and disbursements; ensure the accuracy and integrity of financial data; identify and reduce transaction risk; improve the quality and timeliness of financial reporting; and strengthen internal controls to support compliance requirements.
For more information on how Trintech can help you gain greater visibility and control of your critical financial processes, 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.
Trintech • 15851 Dallas Parkway, Suite 900 • Addison, TX 75001 • Tel 1.972.701.9802
Trintech Technologies • Block C, Central Park • Leopardstown, Dublin 18, Ireland • Tel 353.1.293.9840
Prodiance PR Contact:
Eric
Perry
Vice President, Marketing
Tel. +1-866-569-5678
email: eric.perry@prodiance.com
Trintech PR Contact:
Trintech Press Contact:
Dallas: Donna Martinez
Marketing Communications Manager
Tel. +1 972 739 1611.
email:donna.martinez@trintech.com
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