Trintech expands technology portfolio with acquisition of Adra: R2R solutions now include enhanced Financial Close & Reconciliation tools
Trintech, a leading global provider of integrated, cloud-based Record to Report software solutions for the office of finance, today announced it has 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.
Adra Software’s financial solutions, such as its unique workflow management software, further supports Trintech’s vision of enabling customers to utilize technologies that best meet their specific needs. Whether the need is solely focused on a specific process like reconciliations, or there is a broader focus on full financial transformation, Trintech’s portfolio supports an organization’s requirements now and in the future.
“We are thrilled to announce the addition of Adra to our portfolio of financial solutions. Combined, we are better equipped to serve the Record to Report needs of organizations across the globe,” said Teresa Mackintosh, CEO of Trintech. “This acquisition is another proof point of Trintech’s commitment to strengthen our portfolio through both organic roadmap development and acquiring the best technology on the market.”
Adra Software provides cloud-based, financial close and reconciliation solutions including: ACCOUNTS, a transaction-matching software, BALANCER, a balance sheet reconciliations software, TASK MANAGER, a software for streamlining the financial close process, and RECEIVABLES, a payment matching software.
“We are excited to be joining the Trintech team and continuing our focus of providing solutions that help modernize and transform the office of finance,” said Lars Owe Nyland, CEO of Adra Software. “Existing Adra customers will have direct access to an expanded solution set and new customers can better solve their needs through our combined portfolio.”
Trintech will continue to offer, support, and innovate Adra Software’s solutions to the global marketplace as well as its flagship Record to Report software including Cadency®, T-Recs®, ReconNET™ and Trintech Disclosure Management®.
Trintech, Inc. pioneered the development of Financial Corporate Performance Management (FCPM) 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, bank fee analysis, reporting, governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency®, Trintech Disclosure Management®, ReconNET™ and T-Recs® , help manage all aspects of the financial close process. Over 1,700 clients worldwide – including the majority of the Fortune 100 – rely on our cloud-based software to increase efficiency, reduce costs, and improve governance and transparency across global financial organizations.
Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, France, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.
About Adra Software
Adra Software develops and markets software for financial process management and the financial close process, helping accounting and finance teams to work smarter and quicker, with better control and accuracy. The solutions streamline and standardize accounting departments and give them an overview of the company’s balancing process in real time.
With over 25 years’ experience Adra Software is a market leader with over 1,400 customers. To learn more about Adra Software, visit www.adra.com.
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