DALLAS, and DUBLIN, Ireland, Jan. 17, 2005 (PRIMEZONE) -- Trintech (Nasdaq:TTPA) (Prime Standard: TTP), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced that Ratner Companies, one of the industry's largest salon chains with nearly 900 salons and over 10,000 stylists, has selected Trintech's ReconNET, DataFlow transaction network and Bank Fee Analysis to optimize funds management processes. Ratner Companies will automate the verification and reconciliation of its bank deposits with ReconNET, using Trintech's DataFlow Transaction Network to collect, format and deliver its daily banking data. To further reduce costs and streamline finance and treasury processes, Ratner Companies will monitor its bank fees with Bank Fee Analysis, which will detect and recover fee overcharges.
Ratner Companies is the privately-owned parent company of Hair Cuttery, company-owned and franchised Hair Cuttery UK, BUBBLES, Salon Cielo and Spa, ColorWorks and Salon Plaza. The company operates nearly 900 salons employing over 10,000 Stylists across 14 states and the United Kingdom.
Trintech's solutions will give Ratner Companies more control over their accounting and treasury lifecycle. By importing regional bank data with DataFlow, and automating daily verification of salon deposits and research functions with ReconNET, Ratner Companies can resolve transaction variances and reduce write-offs. Overcharges will be detected and recovered by automating fee error reporting through Bank Fee Analysis. Tightened controls resulting from Trintech's solution suite will allow Ratner Companies to improve productivity while reducing the costs associated with manual processes.
"We selected Trintech's solutions to significantly improve daily productivity, streamline end-of-month accounting processes, and provide visibility into all of our banks, including small regional banks," said Jim Horner, Vice President of Finance, Ratner Companies. "Improved visibility will let us monitor performance across the enterprise as well as minimize loss prevention issues and IT resources."
"Ratner Companies joins other prestigious salon clients, including Peter Mark, Toni & Guy and Regis Corporation, that have selected our solutions to enhance accounting and treasury processes," said John Harte, General Manager of Trintech's Funds Management Systems Division. "The company's selection of Trintech strengthens our position as the leading supplier of cash management solutions to hairstyling and full-service salons."
About Ratner Companies, LLC
Ratner Companies is the privately-owned parent company of Hair Cuttery, company-owned and franchised Hair Cuttery UK, BUBBLES, Salon Cielo and Spa, ColorWorks and Salon Plaza. Led by co-founder and CEO Dennis Ratner, the company operates nearly 900 salons employing over 10,000 Stylists across 14 states and the United Kingdom. Founded in 1974, the company is headquartered in Vienna, Virginia; more information about the company can be viewed on the web at www.ratnerco.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, 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 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 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.
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