BAE Systems Shared Services Finance Selects Trintech's AssureNET GL

5 August 2008

Trintech Group Plc (Nasdaq: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that BAE Systems Shared Services has selected AssureNET GL to increase the timeliness and accuracy of their balance sheet account reconciliations. AssureNET GL is an automated reconciliation software system that performs this critical business function, while ensuring internal controls and compliance.

BAE Systems, with operations across five continents and customers and partners in more than 100 countries, develops, delivers, and supports advanced defence and aerospace systems in the air, on land, and at sea.

"AssureNET GL will provide us with better visibility and control. We're adopting what we believe is a best practice solution to strengthen our control processes," said BAE Systems' Richard Rowe, Financial Controller, Accounting Services. "Our future plans include the extension of the application to underpin our Financial Controls Framework through AssureNET GL's task management workflow."

AssureNET GL provides distinct workflow management for balance sheet account reconcilers, reviewers, and approvers. Time-consuming tasks such as the notification and tracking of accounts and deadlines are automated, and AssureNET GL's risk management features enable detailed analysis, reporting, and documentation of current and potential risk. Companies that migrate to AssureNET GL from manual, spreadsheet-driven processes that rely heavily upon paper and email have realized an increased confidence when certifying financial results.

"This is a significant win for Trintech. We're delighted BAE Systems Shared Services selected AssureNET GL to automate the preparation, tracking, review, and assessment of account reconciliations," said Tony Bethell, VP EMEA for Trintech. "They're taking an innovative approach to strengthening controls while simplifying account reconciliation processes across their enterprise."

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