Trintech, a global provider of cloud-based financial close solutions for the Office of Finance, announced that its customer, Serco, a provider of professional, technology, engineering and management services, has been named a finalist in the “Office of Finance” category of the 15th annual Ventana Research Digital Leadership Awards. Serco was recognized for its use of Trintech’s Cadency Platform to automate its reconciliation and financial close processes.
What benefits has Serco gained from using Cadency?
Following the successful roll-out of Cadency, Serco has achieved a single, standardized approach to balance sheet management on a global scale. Reconciliations now require less manual effort thanks to increased automation and the application of a risk-based strategy. Serco has seen significant benefits since implementing automation including:
- Reduction in financial risk as it improves reporting accuracy
- Reduction in error rate
- Reduction in manual data entry tasks and related human error
- Increased speed in processing financial data
- Improved decision making due to reports being accurate, up-to-date, and delivered in real-time
- Improved compliance procedures
- Increased employee productivity and job satisfaction
- Improved auditable records
- Increased scalability
What were the executive’s thoughts on the milestone?
“We are proud that our Cadency Platform has been instrumental in Serco’s efforts to become a world-class finance function and achieve a single, standardized approach to balance sheet management on a global scale,” said Teresa Mackintosh, Chief Executive Officer at Trintech.
“As a leading provider of financial solutions for large enterprises, we understand the unique complexities and requirements that come with an organization of Serco’s size. The transformation efforts they have been able to achieve and implement with Cadency is truly remarkable and I look forward to continuing our partnership for years to come,” she said.
“Automation is an integral part of our ongoing Finance strategy and vision to become a world-class finance function,” said Paul Adams, Head of New Business & R2R at Serco.
“By automating our controls, it enables us to prevent errors, gives us confidence over our reporting and that our processes are operating as efficiently as possible,” Paul Adams added.
This year’s winners of Ventana Research Digital Leadership Awards will be announced the week of November 2nd. More information on the awards can be found here.