DUBLIN, Ireland and DALLAS, June 13, 2005 (PRIMEZONE) -- Trintech (Nasdaq:TTPA), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced that the Clarks Companies, North America (CCNA) has selected Trintech's ReconNET to automate the verification and reconciliation of its bank deposits, and the DataFlow Transaction Network to collect, format and deliver its daily banking data. CCNA expects to further improve operational control and reduce exposure to risk, while decreasing costs and improving productivity.
Clarks, Indigo, Privo and Bostonian are divisions of CCNA. Clarks, makers of casual comfort footwear for over 175 years, has a broad product offering for men and women. Based in Newton Upper Falls, Massachusetts, CCNA is a wholly owned subsidiary of C&J Clark, Limited of Somerset, England. Clarks Companies Retail (CCR), the retail division of CCNA, operates over 150 stores throughout the United States.
"We selected Trintech for its turnkey offering of both data delivery and reconciliation," said Mark Bouckley, Vice President of Finance and Controller at CCNA. "The integrated DataFlow and ReconNET solution should enable us to grow accounting and treasury management functionality without adding additional staff. Additionally, we'll be able to standardize cash and credit card reconciliation processes and reduce the time it takes to close our books."
The installation of ReconNET is expected to give CCNA the flexibility to handle a range of reconciliation types, improve cash controls and increase the effectiveness of exception resolution processes across its enterprise. The DataFlow Transaction Network is designed to shorten the cycle time for reconciliation processes, thereby minimizing debit and credit adjustments, shortening exception item research and resolution, and reducing write-offs.
"Trintech is delighted to provide Clarks Companies with a solution suite which will impact business practices and improve processing efficiency," said John Harte, General Manager of Trintech's Funds Management Systems Division. "Trintech's solutions are delivering results to many household names in the retail market, and we look forward to working with Clarks Companies as we continue to strengthen our presence in that market."
About Clarks Companies North America (CCNA)
Clarks Companies, N.A. is the North American operating company and wholly owned subsidiary of C&J Clark, Ltd., one of the largest and oldest footwear companies in the world. C&J Clark, Ltd., originated in 1825 in Somerset, England and has grown to a global enterprise that manufactures and markets close to 39 million pairs of shoes a year. Worldwide, Clarks has 13,900 employees engaged in producing and selling shoes. North American headquarters are based in Newton, Massachusetts. For more information visit www.clarksusa.com or www.clarks.com.
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, Bank Fee Analysis, and DataFlow transaction data network and services. Trintech's FMS solutions are optimizing performance in nearly 400 leading companies in retail, hospitality, food service, insurance, banking, government and other industries, including YUM! Brands Restaurants, The Men's Wearhouse, Radio Shack, 7-Eleven, Whitbread Group, Verizon Wireless, Kroger, J. Crew Group, Inc., Regal Entertainment, Polo Ralph Lauren Corporation, 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 reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 18 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 U.S. 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.