Welcome!

News Feed Item

AstraZeneca, Business Process Partner Genpact and Trintech Recognized for Transforming Reconciliation Process

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.

About Trintech

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.

About AstraZeneca

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

About Genpact

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.

About Alsbridge

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.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
As enterprise cloud becomes the norm, businesses and government programs must address compounded regulatory compliance related to data privacy and information protection. The most recent, Controlled Unclassified Information and the EU’s GDPR have board level implications and companies still struggle with demonstrating due diligence. Developers and DevOps leaders, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by in...
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained Michael Fuhrman, Chief Technology Officer at Peak 10, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.