DUBLIN, Ireland, July 14, 2003 (PRIMEZONE) -- Trintech Group Plc (Nasdaq:TTPA) (Prime Standard: TTP), a leading provider of transaction management and payment infrastructure solutions, today announced that Toni & Guy, a wholly owned subsidiary of Mascolo Limited, has chosen ReconNET 6.5 to manage its store reconciliation and cash management needs for its company-owned and managed franchise businesses in the UK.
Toni & Guy, headquartered in London, is one of the world's best known hairdressing salon chains, with more than 250 company-owned and franchise salons globally, excluding the US. The US business is separately owned and operated from Dallas.
The implementation of ReconNET is an integral part of Toni & Guy's overall business strategy, which includes focusing on improving operational processes for its company-owned salons, as well as providing value-added services for its franchisees, including back-office financial processing and finance management.
"We chose Trintech's ReconNET solution because it met all our reconciliation and deposit verification requirements in one package," said Rupert Berrow, Finance Director, Toni & Guy. "We needed a system that would help us monitor the performance of our salons in the UK to increase salon compliance to bank depositing schedules, thus enhancing our cash-flow and reducing risk of cash losses."
"We are delighted to welcome Toni & Guy as a Trintech customer," said Randy Jesberg, President of Trintech's Funds Management Systems Division. "Our ability to deliver measurable financial and operational benefits and to meet requirements for both company-owned and franchised salons made ReconNET the ideal choice for Toni & Guy."
About ReconNET
Trintech's ReconNET business-to-business enterprise reconciliation and treasury solutions streamline the management of cash deposits, credit card payments, gift cards, disbursements, and other transactions to optimize cash flow, tighten internal funds controls and reduce costs. Today, Trintech's ReconNET solution is optimizing funds management and research for 300 leading companies in retail, hospitality, food service, insurance, banking, government and other industries, including YUM! Brands Restaurants, Foot Locker, Radio Shack, 7-Eleven, Verizon Wireless, Kroger, Regal Entertainment, Budget Rent A Car, Burger King, Farmer's Insurance Group, and the University of Missouri.
About Trintech
Trintech is a leading provider of transaction management and payment infrastructure solutions to financial institutions, payment processors, enterprise retailers and network operators globally. Built on over 15 years of experience, Trintech's solutions manage each area of the payment cycle from authentication, authorization, settlement, dispute resolution and reconciliation - enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), and in the UK at 186-192 Darkes Lane, Potters Bar, Hertfordshire, EN6 1AF (Tel: +44 (0) 1707 827000). www.trintech.com
About Toni & Guy
Renowned Hairdresser Francesco Mascoli moved to London from Italy in 1956 with his wife and 4 sons Guiseppe (Toni), Gaetano (Guy), Bruno and Anthony. Throughout the 1950's, Franco trained Guiseppe and Gaetano in the family business of hairdressing. In 1963 Guiseppe and Gaetano opened their first Toni & Guy salon in Streatham, South London. Gradual growth saw another opened in South London in the 1960's. Toni & Guy is now held under the umbrella of Mascolo Limited. Brothers Toni, Guy, Anthony, and Bruno Mascolo founded the company that owns around twenty Toni & Guy salons in the UK; another 200 salons are franchised and/or partially owned. Known for its multi-layering, double-cut technique, the company also operates hairdressing schools in Asia, Australia and Europe.
In October 2002 the business was reorganized into two separate entities. Toni Mascolo now owns all of the Toni & Guy business worldwide with the exception of the Americas. Guy, Bruno and Anthony own TIGI (the group's product division) globally and Toni & Guy in the Americas.
Trintech Press Contacts:
Ireland: Breda Leonard, Director Marketing Communications, Trintech Group Plc. Tel. +353 87 205 4997. email: breda.leonard@trintech.com
Dallas: Darrell Maronde, Manager Marketing, Trintech FMS Tel. 972-739-1634. email: darrell.maronde@trintech.com