S&K Famous Brands Selects Trintech's DataFlow Transaction Network and ReconNET to Deliver Improved Operational Control.DALLAS & DUBLIN, Ireland -- Specialty Apparel Retailer Commits to DataFlow Transaction Network for Bank Data Collection and Delivery and ReconNET for Reconciliation 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 S&K Famous Brands, a retailer of menswear with stores in 27 states, has selected Trintech's DataFlow Transaction Network to collect, format and deliver daily banking data, and ReconNET to automate the verification and reconciliation of its cash and checks with its banks. S&K Famous Brands expects to further improve operational control and reduce exposure to risk, while decreasing costs, improving productivity and maximizing the use of available funds. S&K Famous Brands offers one-stop shopping and value prices for men in a traditional menswear haberdashery atmosphere. For 37 years S&K Famous Brands has been offering men a full selection of suits and sport coats, casual wear, shoes, accessories and furnishings. The company's 240 stores extend from Maine to Florida and from the East Coast to Texas. S&K Famous Brands will utilize DataFlow and the ReconNet software solution to improve detection and resolution of transaction variances resulting in reduced write-offs. Each day the company will receive account data for its regional banks through the DataFlow Transaction Network, and use that data for automated verification and reconciliation of deposits from its stores with ReconNET. S&K Famous Brands will also use ReconNET to help manage the movement of available cash from accounts in each store's depositing bank to its concentration account. "Time-consuming, manual daily and month-end reconciliation exposed us to occasional risks, including late or missing deposits," said Janet Jorgensen, Senior VP at S&K Famous Brands. "Now we will receive bank data daily allowing us to report on exceptions and automatically escalate them. With ReconNET and DataFlow, we expect to resolve issues even more quickly, and reduce the potential for loss and maximize cash flow." "Smart retailers like S&K Famous Brands realize that true business efficiency comes from automating reconciliation processes," said John Harte, General Manager of Trintech's Funds Management Systems Division. "Our solutions are helping specialty apparel retailers improve productivity, processes and operational costs. We are confident that our solutions will enhance accounting and treasury processes for S&K Famous Brands, as they have for numerous other specialty apparel retailers." About S&K Famous Brands Originating in 1967, S&K Famous Brands, Inc. is a retailer of value-priced menswear operating 240 stores in 27 states reaching from the East Coast to Texas and from Maine to Florida. S&K offers a complete line of men's apparel generally priced 20-40% below department store and specialty store Noun 1. specialty store - a store that sells only one kind of merchandise shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod" regular prices. S&K Famous Brands has its headquarters in Richmond, Va. For more information, visit www.skmenswear.com. 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, The Men's Wearhouse Men's Wearhouse (NYSE: MW) is the largest men's dress apparel retailer in the United States. The company is based in Houston, Texas, and is publicly traded on the New York Stock Exchange. The company was founded by George Zimmer in 1973. , 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, J. Crew Group, Inc., Regal Entertainment, Polo Ralph Lauren Polo Ralph Lauren (NYSE: RL) is American fashion designer Ralph Lauren's luxury lifestyle company. Polo Ralph Lauren specializes in high-end casual/semi-formal wear for men and women, as well as accessories, fragrance, and housewares. Corporation, Wendy's, Farmer's Insurance Group, and the University of Missouri. Trintech FMS is headquartered in Dallas, 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 17 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 U.S. at 15851 Dallas Parkway, Suite 855, Addison, Texas Addison is a city in Dallas County, Texas (USA). The population was 14,166 at the 2000 census. Addison is a northern suburb of Dallas. The city calls itself the Town of Addison but it is incorporated as a city. 75001 (Tel: +1 972 701 9802), and in the U.K. 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. |
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