Trintech Expands Adra Suite Financial Close Offering into EMEA Markets
Meet the Authors
⇨ Trintech announced it will expand its Adra Suite of solutions into Europe's DACH region.
⇨ The solution helps streamline and automate elements of the financial close for mid-sized businesses.
⇨ Adra Analytics also features tailored dashboards for improved insights.
Trintech, a global leader in cloud-based, integrated reconciliation, and financial close solutions for finance and accounting departments, announced further investment into the EMEA market. The company recently launched its Adra Suite of financial close automation solutions into the DACH region, which is comprised of Germany, Austria, and Switzerland.
The Adra Suite from Trintech is designed to help mid-size businesses manage the process of financial close. It does this by helping these organizations to streamline work, improve the accuracy of their data, and reduce the risk of malicious actors or audits.
“We continue to see a high demand for solutions to help companies simplify and streamline critical reconciliation and financial close processes in this region. We have already experienced rapid adoption of our large enterprise platform, Cadency, so we are excited to now bring our Adra Suite, that was built to help mid-sized companies solve these same challenges, to this market. These ongoing investments continue to reinforce our dedication to providing a best-in-class experience for companies of any size in the DACH region,” said Trintech CEO Darren Heffernan in a press release.
Meeting the Market
Many organizations in the EMEA region are taking steps to overhaul their financial close activities. According to the SAP S/4HANA Finance and Central Finance State of the Market 2023 – Benchmark Research Report, more than 26% of respondents from the EMEA region said they were improving record-to-report and closing processes, making it one of the most commonly-selected responses.
More than half of respondent organizations are evaluating automated financial close solutions to support their SAP S/4HANA for Finance deployment strategic priorities. The Adra Suite offers users a significant reduction in the time it takes to match transactions, perform bank reconciliations, and close the books. These solutions not only reduce the risk of inaccurate data, but they also streamline processes. This gives finance teams additional time to do more value-add work.
The most commonly-selected strategy EMEA organizations used in their SAP S/4HANA Finance and Central Finance was increasing real-time visibility into finance and operations. Organizations need visibility in order to anticipate any potential issues that come with the financial close.
Adra provides this by offering users individualized reports and dashboards. These insights from Adra Analytics can highlight the successes as well as the opportunities for improvements that can help companies orient themselves for growth.
As part of its strategy, Trintech said it “invested in an expanded in-region team and continues to strengthen its partner ecosystem” in the DACH region.
Solutions like the Adra Suite are important for mid-sized businesses that may not have access to the same offerings as larger enterprises. Financial close is vital for these organizations, yet it often remains a difficult process. Automation helps alleviate much of that burden.
Manual activities, data silos, and disparate systems often cause inefficiencies and make it even harder to execute financial close activities. Automated financial close solutions allow for reduced closing time by automating or eliminating any long-running steps in the process.
By expanding the reach of its Adra Suite, Trintech offers a new group of businesses the opportunity to improve the efficiency of their financial close process.