Trintech Recognized as a Leader in 2024 IDC MarketScape Worldwide Office of the CFO Record to Report Vendor Assessment

Risk management, quick and easy implementation and the ability to deal with large-volume transactions listed as Trintech's key strengths

DALLAS, Oct. 7, 2024 /PRNewswire/ -- Trintech, a leading global provider of cloud-based financial close solutions for the Office of Finance, has been positioned in the Leaders Category of the IDC MarketScape: Worldwide Office of the CFO Record to Report 2024 Vendor Assessment (doc #US52037924, September 2024). 

"As the financial landscape becomes increasingly complex, the Record to Report (R2R) process remains a cornerstone for CFOs in delivering accurate and timely financial data," said Heather Herbst, Research Director of IDC Worldwide Office of the CFO. "Organizations that prioritize an end-to-end solution for R2R, integrating automation and advanced analytics, will not only streamline compliance but also empower CFOs with real-time insights to drive strategic decision-making. Trintech's commitment to delivering comprehensive solutions positions them as a critical partner in optimizing these processes."

Trintech's key strengths within the IDC MarketScape assessment include:

• Risk management: Trintech offers flagging risks throughout the financial transactions.
• Quick and easy implementation: Customers of Trintech stated implementation was easy and quick.
• Ability to deal with large-volume transactions: Trintech can handle a large volume of transactions through automation, being more appealing to retail, hospitality, insurance and financial institution industries.

"At Trintech, we understand that time is a precious resource, especially in the fast-paced work of finance," said Darren Heffernan, CEO of Trintech. "Our purpose is to give people time back by delivering cloud-based solutions that transform financial operations for organizations of all sizes through advanced automation and AI capabilities. We are committed to reducing manual interventions and the burnout associated with lengthy close cycles, creating a more flexible and sustainable work environment for accountants. In a time where talent retention is crucial, Trintech's innovative solutions are paving the way for a future where finance teams can thrive."

Trintech's purpose-built reconciliation and financial close solutions continue to help organizations of all sizes and across multiple industries make time count:

• "The largest benefit experienced has been significant time savings. Our bank reconciliation process went from 4-5 hours to 10 minutes with Trintech." – Proshop
• "Today, we auto-match 15,000 accounts which has saved us a total of 500 hours per month." – Serco
• "We have saved 30 staff hours per day and reduced our close process by at least 2 days by automating with Trintech." – Utah Community Credit Union

Download an excerpt of the 2024 IDC MarketScape for Office of the CFO Record to Report assessment here.

About IDC MarketScape

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.  

About Trintech

Trintech gives people time back for what matters most. Our cloud–based platform and solutions enable thousands of clients worldwide to lead productivity transformation across their finance and accounting organizations — driving efficiencies, ensuring accuracy to mitigate risk, and empowering strategic decision-making. Make time count with Trintech.

As the leader in Financial Close Management, Trintech is headquartered in Plano, Texas with offices and strategic resellers across United States, Europe, Australia, South America, Africa, and Asia Pacific. With a strong partner ecosystem, Trintech collaborates with over 100 companies to create a network of interconnected businesses. To learn more about Trintech, visit www.trintech.com.

Media Contact:
Kelli Shoevlin
Director, Global Corporate Marketing & Communications
kelli.shoevlin@trintech.com

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