Deals Done | 14 Apr 2008 :
The American Red Cross has chosen hosted versions of Trintech's ReconNET to automate the reconciliation of its disbursement accounts and AssureNET GL to automate and control general ledger account reconciliation processes and closing tasks and activities.
Trintech's ReconNET is intended to meet the American agency's requirements for advanced matching algorithms; general ledger integration; and built-in research features that automate escalation of open items and report on incidents and exceptions.
Integrated with ReconNET, AssureNET GL should help the agency with to standardise processes across the enterprise, control the accounting close process, verify and certify work in remote places, and increase efficiency, visibility, and compliance.
The reconciliation solutions are hosted in a state-of-the-art, secure facility. The relief agency's Martha Zweier said: "During a natural disaster, we have some very specific and often complex reconciliation needs." She said ReconNET is expected to streamline and accelerate the process. "The tracking function within AssureNET GL should allow us to monitor reconciliations at every stage, better enforce policies and procedures, and ensure the absolute integrity of our data."
Trintech GM John Harte noted: "Technology and expertise under an ASP model is an attractive value proposition for our customers. For a predictable monthly fee that frees up intellectual and monetary capital resources, we can provide infrastructure hardware, software, and system management necessary for a variety of account reconciliation and funds management processes - all configured to meet a client's unique business processes."
The emergency and relief agency offers care to victims of war and natural disasters through over 700 locally supported chapters and a global network of 186 national societies. The organisation also offers compassionate services to help the needy; support and comfort to military members and their families, and collects, processes, and distributes lblood and blood products.