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One-on-One with Joe Nicholson
Vice President of Marketing, Trintech

by Karly Gaffney, Media Relations, Dashboard InsightMonday, April 06, 2009

Dashboard Insight recently spoke with Trintech's Joe Nicholson about financial governance solutions, Trintech's corporate history and how Trintech uses B.I. elements to provide increased visibility and transparency within financial GRC processes.


 

Dashboard Insight: Tell us about the history of Trintech.

Joe Nicholson: Since 2000, Trintech has focused on its distinctive competence, developing integrated financial governance solutions that make a strategic difference to businesses worldwide. Trintech offers a comprehensive suite of transaction risk management, accounting compliance, and financial reporting applications across the financial lifecycle. The company’s solutions are built on a foundation of best practices and supported by the highest quality of client services.

In 2003, Trintech acquired DataFlow Services, a company relieving corporate accounting and treasury departments of the burden of retrieving critical accounting data for reconciliation processes. Combined with Trintech’s account reconciliation software, ReconNET, the suite provides a highly scalable and cost-effective solution to businesses requiring reconciliation of high volumes of transactions.

In March 2006, Trintech acquired Assurity Technologies, Inc. This acquisition provided the company with an enterprise process management system, AssureNET GL, for general ledger reconciliation, review and certification. The acquisition provided a complementary capability to Trintech’s existing products and is a significant addition to the company’s expansion strategy in the financial governance area. AssureNET GL, a financial close application, helps companies to automate and control many processes that were formerly manual and spreadsheet-driven.

By the end of 2006, Trintech acquired Concuity Inc., a company providing revenue management solutions that allow healthcare providers to recover revenue not paid by payers, due to the complexity of the healthcare billing process in the United States. Concuity’s contract management software provides hospitals, integrated health systems, and providers the visibility and control required to analyze and negotiate contracts with payers; ensure accurate compliance with contractual obligations; and resolve revenue loss tied to denials and underpayments of healthcare claims by reconciling the remittance (explanation of benefit) to the claim prepared on the basis of the payer contract.

In February 2008, Trintech acquired Movaris Inc. whose Unity Suite of Financial Close, Sarbanes-Oxley Compliance, governance, risk, and compliance (GRC) and Enterprise Risk Manager applications are built on a workflow and process-centric platform that enable users to plan, scope, schedule, perform, manage and report on all corporate compliance and GRC management efforts across their enterprise. The Unity solution provides a single system of record for all compliance activities – increasing confidence in business performance, reducing the risk of material weaknesses and restatements and decreasing costs while improving productivity.

DI: What areas of the B.I. stack do your GRC solutions cover?

JN: Trintech uses dashboards extensively to provide managers, performers and executives with detailed status of all governance, risk and compliance activities within their organization.  The dashboards are interactive and drillable down to the individual control enabling all to see and understand what controls are active, which have been completed, what issues have been raised and resolved, and when it is appropriate to file required disclosures.

DI: Trintech recently reported Q4 results reflecting a solid quarter and year-end performance with revenue growth. Do you expect this to be a great year as well despite the turbulent global economic environment or are you expecting the recession to affect demand for your products in 2009?

JN: Governance, risk and compliance issues remain an important topic and effort for companies given both increased regulation and the need for promoting shareholder confidence with complete transparency of GRC operations.  While the current economic climate is challenging for all companies, we see these times as an opportunity to help companies better manage the process of closing their books with the proper controls in place to ensure that material weaknesses do not exist and reduce the risk of financial restatements.  At the same time, companies are looking to control costs and reduce personnel time spent on mundane tasks so that staff can concentrate on the analysis of more important issues.  Trintech’s solutions are focused on just that, improving visibility and transparency of GRC efforts and reducing costs and staff efforts through automation. 

DI: What percentage of your revenue comes from public-sector vs. private-sector sources?

JN: The vast majority of Trintech’s revenues are from the private sector.

DI: Trintech has more than 600 leading customers in the commercial, financial services and healthcare industries, can you tell us about your key clients using your solutions?

JN: Trintech is proud to count 22 of the Fortune 50 and 106 of the Fortune 500 as customers including 7-Eleven, Accenture, Allianz Life North America, Ameren, eBay, Farmer’s Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands.  All of these companies share a desire to streamline their operations, increase visibility, reduce costs and decrease the risks of potential material weaknesses.   

DI: How have the acquisition of DataFlow Services, Assurity Technologies, Inc., Concuity, Inc., and most recently Movaris, Inc. improved your product offerings in the GRC market?

JN: Trintech’s mission is to provide the most complete financial GRC software solution to the market that addresses the financial processes of account reconciliation, compliance, financial close and risk management.  In doing this, Trintech enables companies to transform their financial operations to reduce costs, increase visibility and transparency of financial reporting and overall, provide a production platform for finance.  Each of these additions to Trintech have been chosen in part to help in this mission.

DI: What’s the process if someone wanted to evaluate your solutions?

JN: If someone is interested in Trintech’s solutions, they can contact us directly or view more information at www.trintech.com.  We also encourage that prospects talk to our existing customers as part of their evaluation of our solutions to learn about the real-world benefits and return on investment that our customers enjoy.

DI: What new products or developments are in the works that you would be able to share with us?

JN: Trintech is always working to enhance and broaden our solutions to meet customer needs.  This includes input from existing customers, prospects, industry and finance analysts as well as our own internal finance experts.  The market can expect Trintech to continue to innovate to meet customer and industry needs.


 

Joe E. Nicholson brings more than 25 years of technology and marketing management experience in a career that spans all phases of the software business.  Prior to Trintech, Mr. Nicholson was the Vice President of Marketing and Business Development at DecisionPoint.  He also served as Vice President of Platform Marketing at Informatica where he drove the expansion from tools to data integration platform and placement within Gartner’s “magic quadrant” for Informatica as the leader in data integration.  Prior to Informatica, he held management positions at Autodesk, Strategic Mapping and other companies focused on geographic information systems.  Before entering the software field, Mr. Nicholson spent 13 years as a federal and state government regulator in the energy markets dealing with offshore oil and power generation facilities.

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