Trintech Group Strengths, Domain Expertise, and Key Differentiators
Trintech developer of Enhanced Finance Controls and Automation (EFCA) software to optimize the Record to Report process. From high volume transaction matching and streamlining daily operational reconciliations to automating and managing balance sheet reconciliations, journal entries, treasury management and bank fee analysis, to governance, risk and compliance Trintech's portfolio of financial solutions help manage all aspects of the financial close process.
In February 2017, Trintech developed a new cloud-based disclosure and financial reporting solution, Trintech Disclosure Management. The solution was available in March 2017 and integrates with the latest version of Trintech's comprehensive R2R solution, Cadency 3.0. With Trintech Disclosure Management, Trintech is the only financial automation software provider with a comprehensive Record to Report offering that includes dedicated disclosure research and disclosure/financial reporting solution.
Trintech Group Recent Developments
In October 2021, Trintech announced the latest release of CadencyDirect which now integrates into ServiceNow’s GRC solution to help customers strengthen their compliance frameworks and drive better risk-informed decisions across the enterprise. A key capability delivered with this release includes the ability for critical financial close tasks and issues to trigger notifications and workflows throughout the enterprise within the Now Platform. With this capability, along with the integration to GRC, Trintech and ServiceNow are enabling digital transformation that reduces the risk to the global enterprise market.
In March 2021, Trintech announced several key product enhancements to help large enterprises reduce the time spent on tasks and drive greater efficiencies in their month-end workflows. With the latest release of Trintech’s Cadency Platform, finance and accounting professionals can elevate their financial automation with highly configurable and transparent workflows, integrated connector enhancements, and extended scalability and automation with new Smart Bots and ERP Bot enhancements.
In May 2020, Trintech launched Adra Analytics, extending the reporting capabilities of its Adra Suite. This solution ensures companies have full visibility into their financial data in one consolidated location, giving them a one-stop-shop for all their financial reporting needs.
In January 2020, Trintech released Cadency 8.0. The latest update to Cadency’s comprehensive System of Financial Controls™ offers new, innovative support for transaction and account reconciliation, journal entry, audit preparation and integration with the office of finance’s software ecosystem.
In March 2018, Trintech and Wipro, a global information technology, consulting and business process services company, partnered to deliver digital solutions that help simplify and automate business finance functions at enterprises. As a strategic partner, Wipro will offer its clients Trintech's portfolio of financial solutions, which encompass high-volume transaction matching, balance sheet and intercompany reconciliations, journal entries, financial close task management, disclosure and fiduciary reporting, and compliance management.
In 2019, Trintech released Cadency 7.0, the latest update to its system of controls for the entire Record to Report (R2R) process.
Trintech Group Mergers and Acquisitions (M&A) Activities
In November 2017, Trintech acquired Adra Software, a leading provider of financial close and reconciliation software for the European marketplace. With this acquisition, Trintech broadens its portfolio of best-in-class financial solutions to better meet the needs of its existing and prospective customers across the globe. In addition, Adra Software's strong local customer success expands Trintech's European presence, making it the clear Record to Report solution provider in the European market. The combined company will operate under the name Trintech.
Trintech Group Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Trintech Group applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Trintech Group and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Cadency Platform, Adra Suite, ReconNET™, T-Recs, UPCS customers.
Trintech Group Overview
Ownership: - Summit Partners
Number of Employees: 600
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Non Profit, Oil, Gas and Chemicals, Professional Services, Retail, Transportation, Utilites,
Trintech Group Key Enterprise and Cloud Applications
Cadency Platform, Adra Suite, ReconNET™, T-Recs, UPCS
Trintech Group Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Trintech Group Revenue Breakdown By Type, $M:
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Trintech Group Enterprise Applications Revenues By Functional Markets, $M:
Trintech Group Enterprise Applications Revenues By Verticals, $M:
Trintech Group Revenues By Region, $M
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Trintech Group Direct vs Indirect sales
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Trintech Group Customers - Breakdown by Geo, Size, Vertical and Product
No. of Trintech Group Customers: 3500
No. of Trintech Group Enterprise Applications Customers: 3500
No. of Trintech Group Cloud Customers: x
No. of Trintech Group Cloud Subscribers: x
Trintech serves over 3500 clients worldwide includes more than 35 percent of the Fortune 100, comprising over 275,000 users and more than one billion transactions in the cloud annually, making it the fastest-growing global Record-to-Report software solutions provider.
Some of the company's customers include Microsoft, Siemens Corporation, HP, Verizon Wireless, 7-Eleven, Chick-Fil-A, Uber, CVS Corporation, Marriott Corporation, BAE Systems, American Express, Coach, Coca-Cola, Ralph Lauren, ConAgra, Dr. Pepper/Snapple, BJ's Restaurants, Toyota Financial Services.
Likewise, Trintech's existing customer base also expanded deployments with new functionality as well as global rollouts to business units and Shared Service Centers, demonstrating the trust and commitment to growing with Trintech's solutions.
Trintech Group Market Opportunities, M&A and Geo Expansions
In February 2021, Trintech and XACCT Accounting AS partnered to help mid-sized organizations streamline the financial close process by automating key processes and ensuring better internal controls. As a result of this partnership, XACCT will offer Trintech’s Adra Suite as part of its financial solutions technology portfolio for Business Process Outsourcing (BPO). With this strategic partnership, both XACCT and Trintech are looking forward to developing their relationship and creating a framework for onboarding future XACCT clients.
In January 2018, Trintech received a majority recapitalization by global growth equity investor Summit Partners. After a period of remarkable growth, existing investor Vista Equity Partners and Trintech management will continue to retain a minority stake in the company. This funding comes during a period of strategic organic and inorganic growth, innovation and expansion for Trintech.
Trintech Group Risks and Challenges
Recent investment from Vista Equity Partners was followed by changes in the Trintech go to market strategy and its executive team.
Trintech Group Ecosystem, Partners, Resellers and SI
In July 2021, Planful and Trintech partnered to resell each other’s products, offering an integrated end-to-end solution for the financial and accounting process. This partnership will provide customers in mid-sized organizations with a best-in-class single source of truth of their financial data, accelerating the end-to-end FP&A, consolidation, and accounting close processes in a frictionless experience.
During 2020, Trintech made several strategict partnerships. In May, Trintech made a technology partnership with Visma to help companies simplify and accelerate financial close processes. As part of this partnership, Trintech has created a pre-built, Visma.net-certified connector for its Adra Balancer and Adra Matcher solutions, allowing companies to reduce the cost and time associated with data integration between the solutions.And also, made a partnership with Workiva to help large enterprises and mid-sized organizations streamline and automate processes for the financial close and global statutory reporting.
In April, Trintech partnered with Sage to help companies simplify and accelerate financial close processes. As part of this partnership, Trintech has created a pre-built, Sage Intacct-certified connector for its Adra Suite, allowing companies to reduce the cost and time associated with data integration between the two solutions.
Trintech has offices located across the United States, United Kingdom, Australia, France, Ireland, the Netherlands and the Nordics, with strategic partners in South Africa, Latin America and across the Asia Pacific region.
In 2019, Trintech opened an office in Germany, to extend its presence in EMEA.
In 2018, Trintech continued investment in the APAC region with the opening of its new office in Singapore. The new office improves the ongoing support of customers in the region and better positions Trintech to address the growing demand in the ASEAN market.
The addition of Trintech's Singapore office followed several recent investments in the APAC region, including a new Australian data center and an expanded in-country team. Trintech's partners include Adobe, Deloitte, Capgemini BPO, Spectrum Software, KPMG, Barnstone, Finance Executives International, Protiviti, StoneRiver and Microsoft.
Trintech Group Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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