|By Business Wire||
|July 8, 2014 08:10 AM EDT||
Trintech, a leading global provider of integrated software solutions for the Last Mile of Finance™, announced today that its customer AstraZeneca received an Alsbridge Innovation Award for its balance sheet reconciliation transformation project. In collaboration with AstraZeneca and Genpact, the company’s business process outsourcing partner, Trintech implemented its Certification solution to manage reconciliations of AstraZeneca’s multibillion-dollar balance sheet. The Alsbridge Innovation Awards honors innovative practices of an outsourcing relationship and acknowledge the technology and techniques that enable successful initiatives.
“This award recognizes the tremendous teamwork and collaboration on the part of AstraZeneca, Genpact and Trintech to transform our balance sheet reconciliation process around the world,” said Natalie Childs, Global Process Owner of Record to Report and Fixed Assets at AstraZeneca. “We didn’t want to move the needle a little bit, we wanted to do much more than that – we wanted to innovate and create a world-class reconciliation platform. And we did just that: the team delivered the project on time and under budget, and more importantly, improved the day-to-day operations of our finance organization.”
Through the project, AstraZeneca, Genpact and Trintech designed, configured and implemented a new global approach to balance sheet reconciliation that delivered measurable results:
- Improved productivity for 300 users
- Increased compliance across 26,000 accounts
- Improved balance sheet integrity
- Eliminated Excel, paper and human intervention in reconciliation process
- Reduced cost of service
- Accelerated the period-close process
“The improvement in AstraZeneca’s finance processes underscores the benefits of effective collaboration between global companies, business process outsourcing providers and technology companies,” said Roy Rajarshi, who led the project for Genpact.
Trintech CEO Paul Byrne commented on the award, “It has been an honor to work alongside AstraZeneca and Genpact on this global initiative. We are most proud of our work at Trintech when our customers are recognized for the advancements they make with the help of Trintech’s technology.”
Certification is a module of Trintech’s Cadency solution, which automates the Last Mile of Finance to increase efficiency, improve visibility, shorten cycle times, lower costs and reduce risk. This SaaS-based tool serves as a global policy and platform that monitors activity on every account and automatically assigns risk and approvals. The workflow systematically guides monthly compliance tasks, and it acts as a single system of record accessible from anywhere to enable real-time analysis and collaboration.
“In an era when business process outsourcers play a growing role in international finance, this project demonstrates that automation and real-time access are increasingly important to the collaboration and success of global finance teams,” Byrne added.
Trintech is the leading provider of financial software solutions for the Record-to-Report process. Over 800 clients in 100 countries – including half of the Fortune 50 and the FTSE 100 – rely on our solutions to optimize resources, reduce costs, manage risk and monitor activities across the entire finance organization worldwide. Trintech’s Cloud-based Cadency™ software manages all aspects of the financial close – from automating and managing balance sheet reconciliation, journal entries, to governance, risk and compliance, and financial reporting. ReconNET™ streamlines daily operational reconciliations such as bank and credit card transactions. Trintech has offices located across the US, UK, Australia, France, Ireland, the Netherlands and the Nordics, with partners in South Africa, Latin America and across the Asia Pacific region. www.trintech.com.
AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com
Genpact Limited is a global leader in transforming and running business processes and operations, including those that are complex and industry-specific. Their mission is to help clients become more competitive by making their enterprises more intelligent through becoming more adaptive, innovative, globally effective and connected to their own clients. Genpact stands for Generating Impact – visible in tighter cost management as well as better management of risk, regulations and growth for hundreds of long-term clients including more than 100 of the Fortune Global 500. They have global presence – 64,000+ employees in 24 countries with key management and corporate offices in New York City.
Alsbridge is a management consulting firm that helps companies reduce costs and enable their businesses by optimizing the way they work with their vendors. With over 200 consultants on four continents, Alsbridge has been a trusted advisor to over 40% of the Fortune 500 and currently advise over 200 clients a year on over $11b in spend. This gives us tremendous market insight and deep benchmarking databases that our experienced consultants use to help clients engage the optimal vendors for their situation, negotiate best practice terms at fair market prices, and improve the way they govern vendor relationships. Alsbridge clients utilize the most cost effective and value added sources globally for IT infrastructure services, network carrier services, hardware and software, application support and development, business processes and cloud services.
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 24, 2017 06:45 AM EDT Reads: 3,143
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
Mar. 24, 2017 06:00 AM EDT Reads: 8,355
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Mar. 24, 2017 05:45 AM EDT Reads: 4,900
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Mar. 24, 2017 04:30 AM EDT Reads: 2,482
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 24, 2017 04:15 AM EDT Reads: 1,127
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 24, 2017 04:15 AM EDT Reads: 1,213
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
Mar. 24, 2017 03:30 AM EDT Reads: 3,166
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, discussed how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a practic...
Mar. 24, 2017 03:15 AM EDT Reads: 7,922
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...
Mar. 24, 2017 02:15 AM EDT Reads: 7,037
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 24, 2017 01:45 AM EDT Reads: 1,244
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 24, 2017 01:30 AM EDT Reads: 3,492
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Mar. 23, 2017 11:30 PM EDT Reads: 746
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
Mar. 23, 2017 11:30 PM EDT Reads: 4,364
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
Mar. 23, 2017 10:45 PM EDT Reads: 2,399
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Mar. 23, 2017 10:15 PM EDT Reads: 3,279