Trintech Reinvents The Record-To-Report Process With EMEA Roll-Out Of Cadency
Posted: 23 November 2012 | Source: Cadency
Trintech advances global roll-out of Cadency™, the world’s only financial governance solution that manages the entire Record-to-Report process in a single product.
Following the highly successful launch of Cadency™, in the U.S. earlier this month, Trintech, a leading global provider of Last Mile of Finance software solutions is rolling out the highly acclaimed financial governance solution throughout the EMEA region starting in London on 27th November 2012.
“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.”
A wide range of top European companies and Trintech clients, such as BAE Systems, HSBC, ITV, O2, Vodafone, AON, BSkyB, Yahoo, Rabobank, Coca-Cola, Tate & Lyle, Kellogg, Rolls-Royce, Travelport, Hanson, David Lloyd Leisure, Whitbread, and Polo Ralph Lauren will get their first look at Cadency at the London event being held at The Ironmongers Company.
Speakers at the event, hosted by Paul Byrne, CEO Trintech, will include renowned financial process benchmarking firm, The Hackett Group, who will speak about the burning issues of the Account to Report process – and why it holds significant risk to the organization and its senior finance executives.
There will also be talks from Trintech client Fidelity International, who will share their story of how they have achieved “complete control and visibility over the global account reconciliation and certification process.”
This will be followed by a panel discussion with top industry experts from KPMG, Deloitte, E&Y and CapGemini, moderated by Gary Simon, managing editor of Financial Systems News (FSN).
Despite continuous investment in the Record to Report process, 68% of CFOs say that they have inadequate visibility into reporting and 88% say they have experienced delays in the last 12 months when executing financial close, reporting and filing. The panel discussion will explore why current solutions fail to address these concerns and what needs to be done to restore confidence in financial reporting after some recent high profile blunders in disclosure management.
“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.”