Trintech Group Plc (Nasdaq: TTPA), a leading provider of financial software and technology services specializing in transaction verification, reconciliation management, process automation, and compliance, today announced that Calor Gas Limited has selected Trintech's ReconNET to automate cash, check, and credit card reconciliations to reduce the risks associated with what was previously a labor-intensive manual process. ReconNET will be used to identify and resolve exceptions early within the transaction lifecycle to improve processing efficiency, and reduce exposure to operational risk.
Calor Gas is the UK's leading supplier of Liquefied Petroleum Gas (LPG) with over 70 years of experience in the energy market. From 10,000 UK outlets, Calor Gas supplies around four million homes, businesses and individuals who rely on Calor Gas for a variety of applications.
"We wanted to eliminate time-intensive manual processes through automation
and benefit from daily, rather than monthly, reconciliation," said Geert Gyselinck, Finance Director for Calor Gas. "We looked at Trintech's ReconNET and concluded that it not only met our immediate requirements, but also offered scalability for the further expansion of our business."
Calor Gas conducted a thorough evaluation of reconciliation software systems that would automate financial reconciliations and improve transaction-processing rates. The flexibility and power of the ReconNET system combined with Trintech's highly professional consultancy services "made the decision easy" according to Gyselinck. With ReconNET, Calor Gas will be able to carry out detailed daily reconciliation to identify transaction errors and mismatches much more efficiently.
"We're very pleased to have been selected by Calor Gas. This project validates our unique approach, incorporating best-of-breed technology and specialized services, to meet enterprise reconciliation needs," said John Harte, General Manager for Trintech. "We're eager to help Calor Gas automate all of their financial reconciliation and exception management processes so they can focus on their core business growth initiatives."