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
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...