Trintech, a leading global provider of software solutions for the Record-to-Report cycle unveiled Cadency, the world's only, end-to-end financial governance solution that manages the entire Record-to-Report process at Financial Executives International's (FEI) annual "Current Financial Reporting Issues" conference in New York today.
"The days of cumbersome, risk-prone Last Mile of Finance processes are over," says Paul Byrne, CEO of Trintech. "Trintech is excited to be introducing Cadency to the Office of Finance. Cadency establishes a repeatable rhythm across the Record-to-Report cycle, allowing Senior Financial Executives to orchestrate all stakeholders and streamline all process activities for the entire cycle, while measuring and managing the risk profile within the financial governance model for the first time."
"Those managing the Record-to-Report process are challenged by disparate and manual systems that lack the capability to manage the R2R process, the inability of stakeholders to collaborate in real time due to reliance on point solutions that only manage parts of the cycle, and the inability to identify gaps or measure process effectiveness end-to-end," says Executive Vice President, Ken Fritz.
"This lack of transparency and visibility significantly hinders a finance executive's ability to respond proactively to an ever-changing economic and regulatory environment," Fritz continued.
"In contrast, Cadency allows the finance executives to see, know and respond in real time to process and data issues, tasks and timelines being missed, and to control the entire process through to filing."
Trintech CEO, Paul Byrne, revealed the eagerly anticipated Cadency R2R solution during a breakfast meeting taking place at the CFRI conference.
Presenting alongside Paul Byrne was Bill Marchionni, Senior Director of Hackett Group who tackled the burning issues of the 'Account to Report' process, as why it holds such significant risk to the organisation and senior finance executives. Expanding beyond Financial Reporting issues, Bill also addressed the substantial value in becoming a world-class organisation in the Record to Report process.