Trintech Group Plc, a provider of transaction reconciliation and payment infrastructure solutions, last week announced that NationsRent selected Trintech's ReconNET, DataFlow Transaction Network and Bank Fee Analysis software solutions to optimize their funds management processes. NationsRent will use 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. Bank Fee Analysis is intended to further streamline the company's finance and treasury processes and reduce costs by detecting and recovering fee overcharges.
"Trintech's solution suite should enable us to shorten month-end and quarter-end accounting processes, improve communications with our stores, and enable us to detect and recover bank fee overcharges," said John Scherer, vice president and treasurer for NationsRent. "We expect Trintech's solutions to help us complete time-consuming, period-end reconciliation processes more quickly and reduce the potential for loss."
ReconNET will give NationsRent the flexibility to handle a range of reconciliation types, improve cash controls and audit capabilities, and increase the effectiveness of exception resolution processes. The DataFlow Transaction Network is designed to shorten the cycle time for reconciliation, thereby minimizing debit and credit adjustments and reducing write-offs. Bank Fee Analysis will automate fee error reporting so that NationsRent can quickly detect and recover fee overcharges.
Headquartered in Fort Lauderdale, Fla., NationsRent is No. 6 on the RER 100.
