Monday, 1st December, 2008
Exact Match
Somerston Hotels selects Trintech`s ReconNET to Reduce Operational Risk and Support Future Growth
19/Aug/2008
Trintech Group Plc (Nasdaq: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that Somerston Hotels Ltd has selected ReconNET to improve reconciliation and exception management processes while increasing operational efficiencies.
Somerston Hotels owns and operates 32 hotels throughout the United Kingdom under two international brands, Express by Holiday Inn and Ramada Encore. With 31 Express by Holiday Inn hotels, Somerston Hotels is the largest franchisee of the brand in the United Kingdom.
"We're growing at a rapid pace, and our existing reconciliation methodology is no longer efficient in terms of time, labor, and control," said Janet Towers, Finance Director, Somerston Hotels. "With the aim and potential to double in size in the next few years, we wanted a scalable solution that will grow with us, as well as one that will streamline daily reconciliations, speed the identification of exceptions, increase resolution efficiencies, reduce operational costs, and help us improve reporting and gain greater financial controls."
The flexibility of the ReconNET solution is ideally suited to meet a wide range of financial reconciliation process requirements, and the scalability of the system will give Somerston the ability to grow without the need to add the significant cost of additional personnel to manage processes underpinned by ReconNET. ReconNET's non-invasive integration with ERP solutions will enable Somerston to leverage their investment in their new ERP system to improve sales data availability.
"We look forward to working closely with Somerston Hotels, helping them to improve reconciliation processes across their enterprise. Our solutions are enabling highly-efficient financial processes for many leading hospitality and lodging chains in the UK market," said Tony Bethell, VP EMEA for Trintech. "We're committed to helping our clients ensure the accuracy and integrity of their financial data, while supporting their plans for aggressive growth."
About Somerston Hotels
Somerston Hotels owns and operates 32 hotels with a total of 3,795 rooms throughout the United Kingdom. Somerston Hotels' business strategy is to grow the company through acquisition and development. In 2005, the business, through major acquisitions, grew from 15 hotels to 31. In 2006, Somerston Hotels made an additional acquisition and expanded existing hotels in key locations across the country. Somerston Hotels now offers convenient and value-priced accommodations throughout Scotland, England, and Wales. For more information, please visit
http://www.somerstonhotels.co.uk
.
About Trintech Group
Trintech Group Plc (Nasdaq: TTPA) is a leading global provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech's recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.
Over 600 leading global organizations realize the benefits of Trintech's configurable and highly scalable solutions everyday, including 7-Eleven, Accenture, Allianz Life North America, Ameren, Bank of Nevada, eBay, Farmer's Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands Restaurants.
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