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Trintech releases AssureNET GL

03 January 2006  |  2268 views  |  0 Source: Trintech

Trintech Group Plc (NASDAQ: TTPA), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced the availability of AssureNET GL, an enterprise process management system for general ledger account reconciliation, review and certification.

AssureNET GL, designed for companies with high volumes of ledger accounts and users, provides distinct workflow management for reconcilers, reviewers and approvers. The solution automates the most time-consuming tasks, including tracking the list of accounts subject to reconciliation and notifying reconcilers and reviewers of impending due dates or missed deadlines. Additionally, AssureNET GL provides enhanced visibility into the status of the account reconciliation program, ensuring management can assess the risk to the organization and respond appropriately. AssureNET GL integrates fully with Trintech's flagship product, ReconNET, to provide an end-to-end solution for general ledger account reconciliation, review, certification and risk management for every account in the Enterprise.

"Many organizations rely on manual or Excel-based processes. Additionally, they often fall short in providing sufficient oversight and quality assurance testing to ensure that GL account certification processes are effective," said John Harte, General Manager of Trintech's Funds Management Systems Division. "Trintech's AssureNET GL is an automated solution that will provide large enterprises peace of mind. AssureNET GL provides a complete toolset for the management and execution of GL account reconciliation processes. Certification managers will know exactly how their program is functioning across the enterprise at any point in time. Additionally, the program is designed to withstand the scrutiny of auditors, something every business required to meet Sarbanes-Oxley compliance requirements will appreciate."

With AssureNET GL, Trintech is uniquely providing an end-to-end reconciliation solution covering the entire range of accounts requiring reconciliation, including high-volume transaction-intensive accounts, as well as those with low volumes. Trintech's reconciliation process management solution ensures compliance through the elimination of manual procedures and through tools specifically designed to detect and mitigate risk. AssureNET GL functionality includes:

  • Complete segregation of duties between the reconciliation, review and certification functions
  • Enhanced visibility into the performance of the control across the entire enterprise, including detailed analysis by department, location or region
  • Automated interfaces to all general ledger systems to ensure all accounts are included in the program
  • Automated download of the general ledger account balance to reconciliation forms, ensuring the correct general ledger balance
  • Extensive management toolset that includes the ability to assign reconciliation and review responsibilities and schedules, and formats for individual accounts or groups of accounts
  • Support for all types of reconciliations, including balance sheet reconciliations, tax reconciliations, and accounting consolidation reconciliations
  • Automated email notifications to inform participants of impending reconciliation and review dates or missed deadlines
  • Automated summaries of exception statistics and extensive management reporting
  • Quality assurance tools that enable the selection of accounts for quality assurance testing

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