Altera Corporation selected its AssureNET GL enterprise software from Trintech Group Plc to automate and streamline balance sheet and general ledger account reconciliation processes for the company’s finance organization.
Altera offers FPGAs, CPLDs, and HardCopy(R) ASICs in combination with software tools, intellectual property, and customer support to provide programmable tools to approximately 14,000 customers worldwide.
Trintech’s AssureNET GL software provides a sustainable infrastructure for compliance in finance departments by enabling companies to replace the manual process of maintaining and tracking thousands of spreadsheets in an uncontrolled environment.
AssureNET GL automates the review, approval, and status tracking of account reconciliations through templating, manages the accounting close process, and provides management the needed visibility to ensure compliance. As a result, reconciliations are automated and controlled, enabling organizations to reduce costs and manpower involved in compliance administration, decrease audit fees, improve process transparencies, manage risk, and proactively identify current and potential compliance issues.
“Part of our successful global growth strategy has been a continued focus on operational efficiency,” says Jim Callas, corporate controller, Altera. “We’re excited about replacing our labor-intensive spreadsheet processes with an automated, hosted system that will help us to reduce paper and establish a controlled and efficient environment for reconciliations and compliance.”
“We are delighted that Altera is using Trintech’s AssureNET GL in their global finance practices to increase internal controls, simplify processes and improve efficiencies,” says John Harte, general manager, Trintech.
“AssureNET GL is uniquely suited for Altera’s global business environment, and will provide them with a market-leading, proven general ledger reconciliation solution that meets diverse business requirements and accounting needs.”
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