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In addition, there is an even greater pressure on the C-Suite due to a rapidly changing landscape of compliance complexity, business organization, and technology. This is specifically the case between the relationship of the CFO and CIO, who must now collaborate to deliver visibility to company risks, actionable intelligence and drive strategic decisions in a compliance-focused environment. Nowhere is this more important than within the integrity of the period-end numbers.
For over 25 years, Trintech has been innovating automation solutions to help our customers grow their companies with confidence. Built with seamless integration to the existing ERP environment, Trintech’s cloud-based solution, Cadency, optimizes the Record to Report process with Risk Intelligent Robotic Process Automation™ capabilities that eliminate manual processes, identify high-risk accounts, and analyze data to foster actionable intelligence in solving business issues. Its intuitive dashboards and management consoles give the CFO real-time visibility into the company’s financials, along with the ability to differentiate between critical and routine tasks to perform both efficiently.
Through this risk intelligent, scalable and configurable platform solution, CFOs can manage all COSO, SOX, and other compliance initiatives, including HIPAA and FERC/NERC, and coordinate security standards such as PCI-DSS process initiatives like quality control, IT governance, and security. “Several of our enterprise-class customers also leverage Cadency’s complete configurable technology such as dynamic scoping, scheduling, test and evaluation workflow, exception and remediation workflow, management consoles, audit trail and flexible ad-hoc reporting to ensure compliance management controls are identified, scoped and performed,” says Teresa Mackintosh, CEO at Trintech. At the center of the Cadency solution lies an Internal Controls Process that brings elements such as certification and document processing together to ensure controls are performed correctly. The platform allows the CFO to document the financial close process as a whole and identifies the controls and risks associated with them. From there, testing results are certified and stored, which can be analyzed by authorized individuals to discover and amend errors, and to ensure compliance demands are met in all respects. The platform also enhances the control environment, documentation, and policies by making the entire reporting process automated, transparent, and efficient. This approach allows companies to remain proactive in the financial close process and better manage their financial controls.
For example, one of Trintech’s enterprise-class customers, Western and Southern Financial Group, encountered significant challenges in regards to managing its disparate reconciliation and compliance processes. As a privately-owned group of life insurance companies, Western & Southern was required to comply with several regulations, yet lacked visibility and control over the whole financial close process due to each subsidiary company having its independent chart of accounts. Trintech’s Cadency solution assisted the organization in building a configurable workflow and automating its balance sheet certification and approval process and period-end accounting and reporting. It’s compliance component also allows them to now manage, oversee and report on internal and external financial controls.
Trintech continues its commitment of staying ahead of market trends and demands through continuous innovations to better serve its customers today and into the future. Most recently, Trintech announced its disclosure management solution that further streamlines its end-to-end R2R solution, Cadency, with a continued effort to drive value for its customers.
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