DALLAS and DUBLIN, Ireland, Aug. 4, 2004 (PRIMEZONE) -- Trintech (Nasdaq:TTPA) (Prime Standard: TTP), a leading provider of transaction management and payment infrastructure solutions, today announced that the University of Pittsburgh Medial Center (UPMC), one of the largest, non-profit integrated health care systems in the United States, has selected ReconNET to automate the verification and reconciliation of its bank deposit and credit card transactions. ReconNET enables UPMC to streamline its cash management processes and provide reporting across its health system network.
UPMC is the leading health care provider for western Pennsylvania, consisting of 19 tertiary, specialty and community hospitals; 50 rehabilitation centers; 400 outpatient sites and doctors' offices; 14 free-standing retirement and long-term care facilities, and more than 1,600 physicians.
UPMC selected ReconNET to streamline the reconciliation of patient payments as part of a new initiative to standardize processes across its locations. "ReconNET should enable us to match expected receipts to actual bank deposits and spend less time on the process," said Linda Zang, Director of Treasury Operations at UPMC. "It also enables automated reporting, faster resolution of exceptions, and timely end-of-period reporting."
The installation of ReconNET will give UPMC the opportunity to increase the effectiveness of the accounting reconciliation and exception resolution processes for its network of facilities. With ReconNET, all matching transactions are automatically reconciled so the staff is able to focus on resolving exceptions daily using ReconNET's automated research module. Since reconciliation takes place daily, closing end-of-the month processes can occur more quickly.
"Trintech's flexible reconciliation technology delivers significant financial benefits to the healthcare industry in an increasing variety of applications," said John Harte, General Manager of Trintech's Funds Management Systems Division. "We look forward to partnering with UPMC and continuing to extend our capabilities in this very large and exciting market opportunity."
About Trintech FMS
Trintech Funds Management Systems (FMS), a division of Trintech Group, provides comprehensive, industry-leading solutions that optimize enterprise funds management including the ReconNET reconciliation product suite, ExecuNET Executive Reporting, Bank Fee Analysis, and the DataFlow transaction network. Trintech's FMS solutions are optimizing performance in over 400 leading companies in retail, hospitality, food service, insurance, banking, healthcare, 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 headquartered in Dallas, Texas, and can be contacted at 972-701-9802 and on the web at 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 UPMC
The University of Pittsburgh Medical Center (UPMC) is the leading health care system in western Pennsylvania and one of the largest non-profit integrated health care systems in the United States. UPMC enjoys a strong national and international clinical and research reputation, drawing patients from throughout the United States and dozens of countries across the globe. UPMC has been ranked among the "best of the best" by U.S. News & World Report. The health system's academic partner, the University of Pittsburgh, is among the top recipients of National Institutes of Health research funding. http://www.upmc.com/
Trintech Press Contacts:
Ireland: Breda Leonard, Director - Marketing Communications, Trintech Group Tel. +353 1 207 4164. email: breda.leonard@trintech.com Dallas: Darrell Maronde, Director - Marketing, Trintech FMS Tel. +1 972 739 1634. email: darrell.maronde@trintech.com
This press release contains "forward looking statements" within themeaning of Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended. Any"forward looking statements" in this press release are subject tocertain risks and uncertainties that could cause actual results todiffer materially from those stated. "Forward looking statements" inthis press release include statements, among others, relating to thesize of the healthcare industry market opportunity and Trintech'sability to extend its capabilities in this market. Factors that couldcause or contribute to such differences include the possibility thatthe market opportunity will not materialize or that the opportunitywill be limited and the risk that Trintech may not be able to developadditional capabilities that meet the demands of the market. Actualperformance may also be affected by other factors more fullydiscussed in Trintech's Form 20-F for the fiscal year ended January31, 2004 and Form 6-K for the fiscal quarter ended April 30, 2004filed with the US Securities and Exchange Commission (www.sec.gov).Lastly, Trintech assumes no obligation to update theseforward-looking statements.
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