Quadrant Knowledge Solutions announced that it has named Trintech , a leading global provider of cloud-based financial close solutions for the tax office, as a 2024 Technology Leader in the SPARK Matrix: Financial Close Management (FCM), Q3 2024.
Quadrant Knowledge Solutions’ SPARK Matrix™ contains an unbiased detailed analysis of global market dynamics, key trends, vendor landscape, and competitive position. The study provides competitive analysis and ranking of the leading technology vendors in the form of the SPARK Matrix™. The study provides users with strategic information to evaluate different vendor capabilities, competitive differentiation, and market position.
“Trintech’s platforms, Adra (for mid-sized enterprises) and Cadency (for large enterprises), enable organizations to significantly reduce the manual effort involved in transaction reconciliation, account reconciliation, and close management through advanced automation capabilities,” said Pradnya Gugale , Senior Analyst at Quadrant Knowledge Solutions . “In addition, powered by AI and ML, Trintech offers native risk automation and automated risk scores that effectively identify anomalies and high-risk transactions and promptly notify users.” With its overall sophisticated feature set, ability to cover a wide range of use cases, and a solid roadmap, Trintech has been positioned as a SPARK leader in the global market in the 2024 SPARK Matrix TM : Financial Close Management (FCM) and has received high ratings in the technology and customer satisfaction areas,” she adds.
Also Read: Datacor Welcomes Barry Vandevier as Chief Operating Officer
“We are honored to be recognized as a leader in Quadrant Knowledge Solutions’ 2024 SPARK Matrix™ for Financial Close Management,” said Darren Heffernan, Managing Director of Trintech. “This recognition reflects our commitment to delivering innovative, cloud-based solutions that transform financial operations for organizations of all sizes. Our Adra (for midsize companies) and Cadency (for enterprise) platforms are designed to significantly reduce manual tasks and improve accuracy through cutting-edge automation and AI capabilities. We are proud to lead the industry, offering comprehensive solutions that address the complexity of financial close management and enable our customers to focus on strategic decisions. This recognition validates our commitment to innovation and excellence in financial close management.”
Quadrant Knowledge Solutions defines Financial Close Management (FCM) as: “A comprehensive process of recording, reviewing, adjusting and closing financial transactions across global organizational units to produce accurate financial reports at specific time intervals. The software automates this cycle from recording to reporting and includes transaction recording, statement reconciliation, financial consolidation, book closing and the creation of custom reports for finance departments. It provides a single view by integrating financial, operational and HR data, providing holistic insights that facilitate decision making and ensure compliance with regulations and global standards.”
SOURCE: PRNewsWire