Peter Mark Selects Trintech's ReconNET to Reconcile Cash, Check and Credit Card Payments.DALLAS & DUBLIN, Ireland -- Trintech's Industry-Leading ReconNET Product Enables Ireland's Premier Salon Chain to Reduce Costs and Improve Efficiencies at 68 Locations Across Ireland Trintech (Nasdaq:TTPA TTPA Tocopherol Transfer Protein, Alpha TTPA Telephone Twisted Pair Adapter ) (Prime Standard:TTP TTP (thymidine triphosphate): see thymine. ), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced that Peter Mark has selected Trintech's ReconNET to automate the verification and reconciliation of its cash, check and credit card deposits. ReconNET will enable Peter Mark, Ireland's most popular salon group with 68 salons nationwide, to improve store-level efficiencies and reduce costs by tightening controls on all cash, checks and credit card payments. Additionally, ReconNET will enable Peter Mark to reduce its exposure to risk, and reduce the time it takes to reconcile cash transactions. With ReconNET, Peter Mark aims to dramatically improve its ability to quickly identify and resolve discrepancies in daily bank deposits, while at the same time gaining significant improvements in the level of control and audit reporting for all incoming payments. ReconNET will enable Peter Mark to streamline its entire payment accounting lifecycle, while reducing write-offs, and the length of time and manual effort previously required for daily, weekly, and monthly reconciliation and ledger balancing. Peter Mark expects to improve productivity and costs associated with manual payment reconciliation processes. "The success of Peter Mark is built on excellent customer service and efficient processes at each location. ReconNET is a key strategic investment in efficiency," said Paul Keaveney, Finance Controller for Peter Mark. "ReconNET will completely automate our cash handling, reduce risk and identify problems within one business day. With Trintech's help, we can expect to reduce our costs and improve bottom line performance company-wide." Prior to licensing ReconNET, the salon chain used an in-house system and paper reports for deposit verification and reconciliation. Peter Mark management will now use ReconNET to immediately detect and flag issues for review, so they can quickly resolve exceptions and reduce write-offs. ReconNET's powerful trend reporting and analysis will enable management to pinpoint problem areas, and take corrective action A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are instigated in response to a customer complaint, abnormal levels if internal nonconformity, nonconformities identified during an internal audit or to further improve cash handling and process efficiency. "Trintech's ReconNET is the ideal solution for companies like Peter Mark that have a rapidly-expanding, high-volume business," said John Harte, General Manager of Trintech's Funds Management Systems Division. "It is critical for growth companies to gain tighter control of operational processes to improve efficiencies. The selection of Trintech by Peter Mark further strengthens our position as the leading supplier of cash management solutions to hairstyling and full-service salons." About Peter Mark Peter Mark was founded by Peter and Mark Keaveney in 1961. Peter Mark has grown from its humble beginnings Humble Beginnings was an American pop punk band from New Jersey. While never gaining large-scale success, many of the band's members went on to mainstream success with other outfits. in a small first floor salon on Grafton Street in Dublin, Ireland, into one of the largest and most successful privately owned hair-dressing companies in Europe. With 68 salons nationwide, Peter Mark is one of the largest employers in Ireland. It recruits and trains its entire staff in its Peter Mark Academies located in Dublin and Belfast. Peter Mark specializes in giving customers personal attention. Peter Mark salons provide for a luxurious and relaxing hairdressing hairdressing, arranging of the hair for decorative, ceremonial, or symbolic reasons. Primitive men plastered their hair with clay and tied trophies and badges into it to represent their feats and qualities. experience, while remaining affordable. www.petermark.ie About Trintech FMS FMS - Flexible Manufacturing System (factory automation). Trintech Funds Management Systems (FMS), a division of Trintech Group, provides comprehensive, industry-leading solutions that optimize enterprise funds management including the ReconNET reconciliation product suite, Bank Fee Analysis, and DataFlow transaction data network and services. Trintech's FMS solutions are optimizing performance in nearly 400 leading companies in retail, hospitality, food service, insurance, banking, government and other industries, including YUM! Brands Yum! Brands, Inc. (NYSE: YUM) or Yum! is a Fortune 500 corporation, that operates or licenses A&W (excluding Canada), KFC, Long John Silver's, Pizza Hut, and Taco Bell restaurants worldwide. Based in Louisville, Kentucky, it is the world's largest quick-service (a.k.a. Restaurants, Foot Locker Foot Locker, Inc. (NYSE: FL) is a major American sportswear and footwear retailer, with its headquarters in New York City, and operating in approximately 20 countries worldwide. It is the successor corporation to the F.W. Woolworth Company (“Woolworth’s”). , Radio Shack See RadioShack. , 7-Eleven, Whitbread Group, Verizon Wireless Cellco Partnership, doing business as Verizon Wireless, owns and operates the second largest wireless telecommunications network in the United States, based on total wireless customers. , Kroger, Regal Entertainment, Budget Rent A Car, Wendy's, Farmer's Insurance Group, and the University of Missouri. Trintech FMS is headquartered in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , and can be contacted at 972-701-9802 and on the web at www.trintech.com/fms. About Trintech Trintech is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 18 years of experience, Trintech's solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation -- enabling its customers to reduce transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: 972-701-9802), and in the UK at 186-192 Darkes Lane, Potters Bar Coordinates: Potters Bar is a town in the Hertsmere borough of Hertfordshire, England,[2] located 18 miles (29 km) directly north of central London. In 2001 it had a population of 21,639. , Hertfordshire, EN6 1AF (Tel: +44 (0) 1707 827000). www.trintech.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion