LONDON and DALLAS, March 01, 2004 (PRIMEZONE) -- Trintech (Nasdaq:TTPA) (Prime Standard:TTP), a leading provider of transaction management and payment infrastructure solutions, today announced that Ottakar's PLC, one of the UK's leading book store chains, has selected ReconNET and the ExecuNET Executive Reporting Suite to automate the verification and reconciliation of its cash banking and credit card transactions. ReconNET enables Ottakar's PLC to streamline its cash management processes, and provide effective risk management and reporting across its UK stores.
Ottakar's, one of Britain's leading book chains, has a reputation for strongly individual high street shops staffed by book enthusiasts able to offer superlative levels of customer service. The installation of ReconNET and ExecuNET will give Ottakar's the opportunity to increase the effectiveness of the reconciliation and exception resolution processes for its 120 branch locations. ExecuNET will give executive management further insight into developing trends and enable them drill down to specific sources of risk to reduce unnecessary write-offs.
"I was convinced that ReconNET was the solution we needed to streamline our transaction management and reconciliation processes after the first 30-minute discussion with Trintech," said Edward Knighton, Finance Director, Ottakar's PLC. "However, it was the unique abilities of the ExecuNET Reporting suite that fully sold me. ExecuNET enables me to interactively analyse trends that affect my exposure to risk, the productivity of my staff and the effectiveness of our banks."
"I am delighted to welcome Ottakar's as a Trintech customer," said John Harte, General Manager of Trintech's Funds Management Systems Division. "Ottakar's had a legacy reconciliation process that was time-consuming, and lacked reporting and analysis capabilities. With ReconNET and ExecuNET, Ottakar's can not only simplify its processes, but gain new management visibility to greatly reduce their exposure to risk."
About Trintech FMS
Trintech Funds Management Systems (FMS), a division of Trintech Group, provides comprehensive, industry-leading solutions that optimize enterprise funds management and payment lifecycle management, including the ReconNET reconciliation product suite, ExecuNET Executive Reporting, ReconNET Bank Fee Analysis, DataFlow statement delivery services, and the Guardian disbursement management system. Trintech's FMS solutions are optimizing performance in more than 300 leading companies in retail, hospitality, food service, insurance, banking, government and other industries, including YUM! Brands Restaurants, Foot Locker, Radio Shack, 7-Eleven, Whitbread Group, Verizon Wireless, Kroger, Regal Entertainment, Budget Rent A Car, Wendy's, Farmer's Insurance Group, and the University of Missouri. Trintech FMS is located in Dallas, Texas, and can be contacted at 972-701-9802. www.trintech.com/fms
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 17 years of experience, Trintech's solutions manage each area of the payment transaction 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 Ottakar's PLC
Ottakar's is one of Britain's leading book chains staffed by book enthusiasts who deliver unmatched customer service. Ottakar's was founded in 1987 and floated on the London Stock Exchange in 1998. The company has expanded quickly in recent years, acquiring eight branches of James Thin Booksellers in 2002; and 24 branches of Hammicks Bookshops Ltd in April 2003. Ottakar's now employs around 1800 staff in over 120 stores throughout Great Britain.
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