Source: Trintech Group
Trintech Group Plc (NASDAQ: TTPA), a leading provider of financial software and services specializing in reconciliation workflow, revenue enhancement, transaction risk management, and compliance, today announced that Aera Energy LLC (Aera) has selected AssureNET GL to automate general ledger reconciliation, review, and certification processes for accounting compliance.
One of California's largest oil and gas producers, Aera, has properties that extend from the Los Angeles Basin to Coalinga. Its daily oil and gas output accounts for approximately 30% of the state's production.
AssureNET GL is designed to automate and control key accounting activities, including tracking, preparation, review, and assessment of all types of account reconciliations (including balance sheet reconciliations, P&L reconciliations, consolidation system reconciliations, and operational reconciliations). AssureNET GL helps companies streamline and centralize GL reconciliation management processes, automate workflows, improve management reporting, and increase accounting compliance with regulatory requirements such as the Sarbanes-Oxley Act.
"We're delighted that Aera has selected our best-of-breed technology for general ledger reconciliation and accounting compliance," said John Harte, EVP and General Manager for Trintech. "Our best practices approach allows clients to implement an accounting compliance framework that helps them achieve new levels of regulatory control as well as drive performance and profitability. Our work with global organizations such as Hess Corporation, Calor Gas, and Enterprise Products Partners has positioned us as a strategic solutions provider to the oil and gas industry."