Trintech, the leading global provider of integrated Record to Report software solutions for the office of finance, announced that it continues to extend its market leadership in the Enterprise Class market as evidenced by its eighth consecutive quarter of record bookings. During the third quarter of its fiscal 2016, which ended on October 31, 2015, Trintech recorded 111% year-over-year growth of its Cloud-based software. The company’s strong growth continues to be fueled by leading global organizations in the Americas, EMEA and Australia adopting Cadency®, its enterprise-class Record to Report software-as-a-service (SaaS) solution.
“Trintech continues to be the preferred solution for enterprise-class companies around the world to maximize the value within their financial Record to Report process,” said Robert Michlewicz, EVP at Trintech. “We partner with our clients to address their immediate financial process needs, while providing them with a platform that helps lower their risk profile and deliver efficiency and effectiveness into their R2R process both today and well into the future.”
Enterprise class companies are following the guidance of leading advisory firms and ERP vendors (such as SAP) that the most effective way that they can transform the finance organization to improve the quality of their financial close while simultaneously addressing the ever changing regulatory environment is by addressing the Record to Report process.
Trintech’s cloud-based solutions automate and control the financial close accounting process within corporations, often referred to as the “last mile of finance.” The company serves more than 900 customers in 100 countries across a wide variety of industries that include retail, travel and hospitality, high-tech, financial services, pharmaceutical, energy, telecommunications and manufacturing. Over 37 percent of the Fortune 100 are Trintech clients, comprising over 250,000 users around the globe and more than one billion transactions in the cloud annually, making it the de facto standard for enterprise Record-to-Report software solutions.
On September 30th, Trintech received an investment from Vista Equity Partners. The investment will help propel Trintech’s global expansion and further enhance the capabilities of its market leading Cadency and ReconNET solutions.
“The significant investment that Vista makes in each of its portfolio companies translates into huge value for its customers’ in terms of technology, processes and service,” said Paul Byrne, Trintech’s CEO. “Vista’s support will help us accelerate our customer bookings even faster and enable Trintech to capitalize on the rapidly growing enterprise Record to Report market.”
Trintech is the leading provider of financial software solutions for the Record-to-Report process. Over 900 clients in 100 countries – including half of the Fortune 50 and the FTSE® 100 – rely on our solutions to optimize resources, reduce costs, manage risk and monitor activities across the entire finance organization worldwide. Trintech’s Cloud-based Cadency® software manages all aspects of the financial close – from automating and managing balance sheet reconciliation, journal entries, to governance, risk and compliance, and financial reporting. ReconNET™ streamlines daily operational reconciliations such as bank and credit card transactions. Trintech has offices located across the US, UK, Australia, France, Ireland, the Netherlands and the Nordics, with partners in South Africa, Latin America and across the Asia Pacific region.