TTPA » Topics » Overview

This excerpt taken from the TTPA 6-K filed Dec 16, 2009.

Overview

We are a leading global provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial and healthcare markets worldwide. Our recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management and compliance enables customers to gain greater stability and control over their critical financial processes leading to better overall business performance. Over 600 organizations are realizing the benefits of Trintech’s configurable and highly scalable solutions to: improve performance through stronger management of the revenue cycle and disbursements; ensure the accuracy and integrity of financial data; identify and reduce transaction risk; improve the quality and timelines of financial reporting; and strengthen internal controls to support compliance requirements.

The Company operates in two segments: GRC and Healthcare.

This excerpt taken from the TTPA 6-K filed Sep 15, 2009.

Overview

We are a major international provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial and healthcare markets worldwide. Our recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management and compliance enables customers to gain greater stability and control over their critical financial processes leading to better overall business performance. Over 600 organizations are realizing the benefits of Trintech’s configurable and highly scalable solutions every day to: improve performance through stronger management of the revenue cycle and disbursements; ensure the accuracy and integrity of financial data; identify and reduce transaction risk; improve the quality and timelines of financial reporting; and strengthen internal controls to support compliance requirements.

The Company operates in two segments: GRC and Healthcare.

This excerpt taken from the TTPA 6-K filed Jun 15, 2009.

Overview

We are a major international provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial and healthcare markets worldwide. Our recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management and compliance enables customers to gain greater stability and control over their critical financial processes leading to better overall business performance. Over 600 organizations are realizing the benefits of Trintech’s configurable and highly scalable solutions every day to: improve performance through stronger management of the revenue cycle and disbursements; ensure the accuracy and integrity of financial data; identify and reduce transaction risk; improve the quality and timelines of financial reporting, and strengthen internal controls to support compliance requirements.

The Company operates in two segments: GRC and Healthcare (also known as Concuity).

The disclosure below reflects the results of operations from the continuing business.

This excerpt taken from the TTPA 20-F filed May 29, 2009.

Overview

We are a major international provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial and healthcare markets worldwide. Our recognized expertise in

 

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reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management and compliance enables customers to gain greater stability and control over their critical financial processes leading to better overall business performance. Over 600 organizations are realizing the benefits of Trintech’s configurable and highly scalable solutions every day to: improve performance through stronger management of the revenue cycle and disbursements; ensure the accuracy and integrity of financial data; identify and reduce transaction risk; improve the quality and timelines of financial reporting, and strengthen internal controls to support compliance requirements.

On September 1, 2006 the Company sold substantially all of the Payments business (excluding its German business) to VeriFone Holdings, Inc. As a result, the financial results reflect the Payments business/segment as a discontinued operation. All prior period statements, except the consolidated statements of cash flows, have been restated accordingly. The gain on sale is reflected in the fiscal 2007 results. In addition, the Company closed its German business in the quarter ended October 31, 2006. The Company divested its Payments business to reinforce its strategic focus on its financial governance, transaction risk management and compliance business. The net loss in fiscal 2009 for the continuing business amounted to US$1.2 million. The Company has two business segments: GRC (formerly referred to as FMS) and Healthcare.

The disclosure below reflects the results of operations from the continuing business.

This excerpt taken from the TTPA 6-K filed Dec 19, 2008.

Overview

We are a leading global provider of integrated financial governance, transaction risk management, and compliance solutions. We enable companies to achieve excellence in financial governance and performance management through a comprehensive platform of account reconciliation, accounting compliance, and financial reporting applications across the financial lifecycle.

Over 580 leading global organizations are realizing the benefits of Trintech solutions every day to:

 

   

Gain greater control, visibility, and efficiency across financial processes;

 

   

Improve financial performance through stronger management of revenue and cost cycles;

 

   

Ensure the accuracy and integrity of financial data, thereby reducing the risk of material weaknesses and restatements; and

 

   

Drive immediate efficiencies and cost reductions in financial operations through automation and scalability.

The Company supplies six key products and services:

 

   

ReconNET - which has extensive reconciliation capability with specific emphasis on reconciliation and exception management of high volume transaction processing environments. ReconNET has a market leading position in the US retail market, where it is used extensively by treasury and financial control departments in reconciling banking records and cash deposits with point-of-sale transaction records. Trintech’s reconciliation solution is delivering results to many of the most recognized retail organizations in the world, including 14 of the top 25 (7 in the top 10) publicly traded retail organizations according to 2007 STORES Triversity Top 100 Retailers.

 

   

AssureNET - which provides an enterprise process management system for general ledger account reconciliation, review and certification. AssureNET is designed to increase workflow efficiencies and mitigate risk by strengthening internal controls to support Sarbanes-Oxley compliance programs. This capability has particular benefits for large corporations and for complex transaction processing businesses, such as financial institutions.

 

   

Unity - is a comprehensive suite of financial close, enterprise compliance and risk management applications that allows customers to manage performance and compliance by providing a Control Management Framework enabling CFO’s and other senior finance professionals to plan, scope, schedule, perform, manage and report on their governance, risk and compliance control efforts. This product set was acquired through the acquisition of Movaris, Inc.

 

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xlNET - is a spreadsheet inventory, migration, analysis, reporting, and auditing solution that is intuitive and easy-to-use. The application complements our other reconciliation solutions to provide clients with a Sarbanes-Oxley compliant framework for managing critical spreadsheets associated with account reconciliation, financial reporting, budgeting, forecasting, revenue recognition, and other key financial processes.

 

   

On Demand Services - this involves the provision of ASP services for ReconNET and AssureNET, as well as the provision of the DataFlow Transaction Network service, which is engaged in the retrieval, processing, aggregation and delivery of transaction data between a financial institution and its customers. The DataFlow Transaction Network currently processes transaction data from over 20,000 accounts in over 5,000 banks in the United States. Traditionally, the DataFlow services supported the provision of daily bank statement data to support the reconciliation and transaction management process. The network has now been expanded to enable the processing of other forms of transaction data to support our customers’ businesses.

 

   

ClearContracts - this Software-as-a-Service application (“SaaS”) enables healthcare providers to optimize contract profitability by reconciling payments received from their patients’ insurers to amounts they should have received from claims under the terms of their respective contracts. Using advanced workflow, a healthcare provider’s finance department is then able to resubmit underpaid or denied claims and increase revenue by ensuring reimbursement of the contracted amounts. In addition, ClearContracts provides executive visibility of contract performance and yield and allows healthcare providers to model expected revenues arising from negotiated contract changes.

The Company generated revenues of approximately US$32.9 million in fiscal 2008, US$25.8 million in fiscal 2007 and US$21.0 million in fiscal 2006. In fiscal 2008, approximately 63% of the Company’s revenue was recurring revenue from the provision of transaction services, monthly service SaaS and ASP fees, annual license fees and support fees. The remaining 37% of revenue is generated from initial license fees of our software products and the provision of professional services, such as implementation fees.

The Company has a customer base of more than 580 industry leaders, including 19 of the Fortune 50 and 101 of the Fortune 500 companies. Trintech’s customers include retail chains, commercial companies, financial institutions and healthcare providers in the United States, the UK and the Republic of Ireland, continental Europe and Australia. Top customers in recent years include Accenture, Regis Corporation, Sodexho Operations, Target Stores, Providence Health and Cleveland Clinic.

This excerpt taken from the TTPA 6-K filed Sep 18, 2008.

Overview

We are a leading global provider of integrated financial governance, transaction risk management, and compliance solutions. We enable companies to achieve excellence in financial governance and performance management through a comprehensive platform of account reconciliation, accounting compliance, and financial reporting applications across the financial lifecycle.

Over 580 leading global organizations are realizing the benefits of Trintech solutions every day to:

 

   

Gain greater control, visibility, and efficiency across financial processes;

 

   

Improve financial performance through stronger management of revenue and cost cycles;

 

   

Ensure the accuracy and integrity of financial data, thereby reducing the risk of material weaknesses and restatements; and

 

   

Drive immediate efficiencies and cost reductions in financial operations through automation and scalability.

The Company supplies six key products and services:

 

   

ReconNET – which has extensive reconciliation capability with specific emphasis on reconciliation and exception management of high volume transaction processing environments. ReconNET has a market leading position in the US retail market, where it is used extensively by treasury and financial control departments in reconciling banking records and cash deposits with point-of-sale transaction records. Trintech’s reconciliation solution is delivering results to many of the most recognized retail organizations in the world, including 14 of the top 25 (7 in the top 10) publicly traded retail organizations according to 2007 STORES Triversity Top 100 Retailers.

 

   

AssureNET – which provides an enterprise process management system for general ledger account reconciliation, review and certification. AssureNET is designed to increase workflow efficiencies and mitigate risk by strengthening internal controls to support Sarbanes-Oxley compliance programs. This capability has particular benefits for large corporations and for complex transaction processing businesses, such as financial institutions.

 

   

Unity – is a comprehensive suite of financial close, enterprise compliance and risk management applications that allows customers to manage performance and compliance by providing a Control Management Framework enabling CFO’s and other senior finance professionals to plan, scope, schedule, perform, manage and report on their governance, risk and compliance control efforts. This product set was recently acquired through the acquisition of Movaris, Inc.

 

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xlNET – is a spreadsheet inventory, migration, analysis, reporting, and auditing solution that is intuitive and easy-to-use. The application complements our other reconciliation solutions to provide clients with a Sarbanes-Oxley compliant framework for managing critical spreadsheets associated with account reconciliation, financial reporting, budgeting, forecasting, revenue recognition, and other key financial processes.

 

   

On Demand Services – this involves the provision of ASP services for ReconNET and AssureNET, as well as the provision of the DataFlow Transaction Network service, which is engaged in the retrieval, processing, aggregation and delivery of transaction data between a financial institution and its customers. The DataFlow Transaction Network currently processes transaction data from over 20,000 accounts in over 5,000 banks in the United States. Traditionally, the DataFlow services supported the provision of daily bank statement data to support the reconciliation and transaction management process. The network has now been expanded to enable the processing of other forms of transaction data to support our customers’ businesses.

 

   

ClearContracts – this Software-as-a-Service application (“SaaS”) enables healthcare providers to optimize contract profitability by reconciling payments received from their patients’ insurers to amounts they should have received from claims under the terms of their respective contracts. Using advanced workflow, a healthcare provider’s finance department is then able to resubmit underpaid or denied claims and increase revenue by ensuring reimbursement of the contracted amounts. In addition, ClearContracts provides executive visibility of contract performance and yield and allows healthcare providers to model expected revenues arising from negotiated contract changes.

The Company generated revenues of approximately US$32.9 million in fiscal 2008, US$25.8 million in fiscal 2007 and US$21.0 million in fiscal 2006. In fiscal 2008, approximately 63% of the Company’s revenue was recurring revenue from the provision of transaction services, monthly service SaaS and ASP fees, annual license fees and support fees. The remaining 37% of revenue is generated from initial license fees of our software products and the provision of professional services, such as implementation fees.

The Company has a customer base of more than 580 industry leaders, including 19 of the Fortune 50 and 101 of the Fortune 500 companies. Trintech’s customers include retail chains, commercial companies, financial institutions and healthcare providers in the United States, the UK and the Republic of Ireland, continental Europe and Australia. Top customers in recent years include Accenture, Regis Corporation, Sodexho Operations, Target Stores, Providence Health and Cleveland Clinic.

This excerpt taken from the TTPA 6-K filed Jun 20, 2008.

Overview

We are a leading global provider of integrated financial governance, transaction risk management, and compliance solutions. We enable companies to achieve excellence in financial governance and performance management through a comprehensive platform of account reconciliation, accounting compliance, and financial reporting applications across the financial lifecycle.

Over 580 leading global organizations are realizing the benefits of Trintech solutions every day to:

 

   

Gain greater control, visibility, and efficiency across financial processes;

 

   

Improve financial performance through stronger management of revenue and cost cycles;

 

   

Ensure the accuracy and integrity of financial data, thereby reducing the risk of material weaknesses and restatements; and

 

   

Drive immediate efficiencies and cost reductions in financial operations through automation and scalability.

The Company supplies six key products and services:

 

   

ReconNET – which has extensive reconciliation capability with specific emphasis on reconciliation and exception management of high volume transaction processing environments. ReconNET has a market leading position in the US retail market, where it is used extensively by treasury and financial control departments in reconciling banking records and cash deposits with point-of-sale transaction records. Trintech’s reconciliation solution is delivering results to many of the most recognized retail organizations in the world, including 14 of the top 25 (7 in the top 10) publicly traded retail organizations according to 2007 STORES Triversity Top 100 Retailers.

 

   

AssureNET – which provides an enterprise process management system for general ledger account reconciliation, review and certification. AssureNET is designed to increase workflow efficiencies and

 

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mitigate risk by strengthening internal controls to support Sarbanes-Oxley compliance programs. This capability has particular benefits for large corporations and for complex transaction processing businesses, such as financial institutions.

 

   

Unity – is a comprehensive suite of financial close, enterprise compliance and risk management applications that allows customers to manage performance and compliance by providing a Control Management Framework enabling CFO’s and other senior finance professionals to plan, scope, schedule, perform, manage and report on their governance, risk and compliance control efforts. This product set was recently acquired through the acquisition of Movaris, Inc.

 

   

xlNET – is a spreadsheet inventory, migration, analysis, reporting, and auditing solution that is intuitive and easy-to-use. The application complements our other reconciliation solutions to provide clients with a Sarbanes-Oxley compliant framework for managing critical spreadsheets associated with account reconciliation, financial reporting, budgeting, forecasting, revenue recognition, and other key financial processes.

 

   

On Demand Services – this involves the provision of ASP services for ReconNET and AssureNET, as well as the provision of the DataFlow Transaction Network service, which is engaged in the retrieval, processing, aggregation and delivery of transaction data between a financial institution and its customers. The DataFlow Transaction Network currently processes transaction data from over 20,000 accounts in over 5,000 banks in the United States. Traditionally, the DataFlow services supported the provision of daily bank statement data to support the reconciliation and transaction management process. The network has now been expanded to enable the processing of other forms of transaction data to support our customers’ businesses.

 

   

ClearContracts – this Software-as-a-Service application (“SaaS”) enables healthcare providers to optimize contract profitability by reconciling payments received from their patients’ insurers to amounts they should have received from claims under the terms of their respective contracts. Using advanced workflow, a healthcare provider’s finance department is then able to resubmit underpaid or denied claims and increase revenue by ensuring reimbursement of the contracted amounts. In addition, ClearContracts provides executive visibility of contract performance and yield and allows healthcare providers to model expected revenues arising from negotiated contract changes.

The Company generated revenues of approximately US$32.9 million in fiscal 2008, US$25.8 million in fiscal 2007 and US$21.0 million in fiscal 2006. In fiscal 2008, approximately 63% of the Company’s revenue was recurring revenue from the provision of transaction services, monthly service SaaS and ASP fees, annual license fees and support fees. The remaining 37% of revenue is generated from initial license fees of our software products and the provision of professional services, such as implementation fees.

The Company has a customer base of more than 580 industry leaders, including 19 of the Fortune 50 and 101 of the Fortune 500 companies. Trintech’s customers include retail chains, commercial companies, financial institutions and healthcare providers in the United States, the UK and the Republic of Ireland, continental Europe and Australia. Top customers in recent years include Accenture, Regis Corporation, Sodexho Operations, Target Stores, Providence Health and Cleveland Clinic.

The disclosure below reflects the results of operations from the continuing business.

This excerpt taken from the TTPA 20-F filed Jun 13, 2008.

Overview

We enable companies to achieve excellence in financial governance and performance management through a comprehensive platform of account reconciliation, accounting compliance, and financial reporting applications across the financial lifecycle.

Over 580 leading global organizations are realizing the benefits of Trintech solutions every day to:

 

   

Gain greater control, visibility, and efficiency across financial processes;

 

   

Improve financial performance through stronger management of revenue and cost cycles;

 

   

Ensure the accuracy and integrity of financial data, thereby reducing the risk of material weaknesses and restatements; and

 

   

Drive immediate efficiencies and cost reductions in financial operations through automation and scalability.

On September 1, 2006 the Company sold substantially all of the Payments business (excluding its German business) to VeriFone Holdings, Inc. As a result, the financial results reflect the Payments business/segment as a discontinued operation. All prior period statements, except the consolidated statements of cashflows, have been restated accordingly. The gain on sale is reflected in the fiscal 2007 results. In addition, the Company closed its German business in the quarter ended October 31, 2006. The net loss in fiscal 2008 for the continuing business amounted to US$4.3 million. The Company has two business segments: FMS and Healthcare.

The disclosure below reflects the results of operations from the continuing business.

This excerpt taken from the TTPA 6-K filed Dec 14, 2007.

Overview

We are a leading global provider of integrated financial software and service solutions specializing in financial governance, transaction risk management, and compliance for the commercial, financial and healthcare markets worldwide. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes.

In the quarter ended July 31, 2006, the Company entered into substantive negotiations on the disposal of its Payments business. As a result, the three and nine months ended October 31, 2007 financial results reflect the Payments business as a discontinued operation. All prior period statements, except the consolidated statements of cashflows, have been restated accordingly. On September 1, 2006 the Company sold substantially all of the Payments business (excluding its German business) to VeriFone Holdings, Inc. The Company recorded net income from discontinued operations of US$16,000, net of taxes, for the nine months ended October 31, 2007 which related to a gain on the sale of the Payments business and US$0 for the three months ended October 31, 2007. The Company recorded net income from discontinued operations of US$1.8 million, net of taxes, for the three months ended October 31, 2006 and a net loss of US$2.0 million, net of taxes, for the nine months ended October 31, 2006.

The Company now has two business segments: FMS and Healthcare.

The Company has over 480 customers who utilize our solutions to improve performance through stronger management of the revenue cycle and disbursements, to help ensure the accuracy and integrity of financial data, to identify and reduce transaction risk, to improve the quality and timelines of financial reporting and to strengthen internal controls to support compliance requirements. The Company delivers configurable, highly scalable solutions that incorporate a company’s unique business processes, providing greater visibility and control of critical financial processes in today’s challenging business environment.

The Company supplies four key products and services:

 

   

ReconNet - which has extensive reconciliation capability with specific emphasis on reconciliation and exception management of high volume transaction processing environments. ReconNet has a market leading position in the US retail market, where it is used extensively by treasury and financial control departments in reconciling banking records and cash deposits with point-of-sale transaction records.

 

   

AssureNet - which provides an enterprise process management system for general ledger account reconciliation, review and certification. AssureNet is designed to increase workflow efficiencies and

 

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mitigate risk by strengthening internal controls to support Sarbanes-Oxley compliance programs. This capability has particular benefits for large corporations and for complex transaction processing businesses, such as financial institutions.

 

   

On Demand Services – this involves the provision of ASP services for ReconNet and AssureNet, as well as the provision of the DataFlow Transaction Network service, which is engaged in the retrieval, processing, aggregation and delivery of transaction data between a financial institution and its customers. The DataFlow Transaction Network currently processes transaction data from over 20,000 accounts in over 5,000 banks in the United States. Traditionally, the DataFlow services supported the provision of daily bank statement data to support the reconciliation and transaction management process. The network has now been expanded to enable the processing of other forms of transaction data to support our customers’ businesses.

 

   

ClearContracts – this ASP service enables health care providers to optimize contract profitability by reconciling payments received from their patients’ insurers to amounts they should have received from claims under the terms of their respective contracts. Using advanced workflow, a healthcare provider’s finance department is then able to resubmit underpaid or denied claims and increase revenue by ensuring reimbursement of the contracted amounts. In addition, ClearContracts provides executive visibility of contract performance and yield and allows healthcare providers to model expected revenues arising from negotiated contract changes.

Our financial governance business generated revenues of approximately US$25.8 million in fiscal 2007, US$21.0 million in fiscal 2006 and US$19.1 million in fiscal 2005. Approximately 65% of our revenue is recurring revenue from the provision of transaction services, annual license fees, support fees and monthly service and ASP fees. The remaining 35% of revenue is generated from initial license fees and the provision of professional services, such as implementation fees.

Our customer base includes 16 of the Fortune 50 and 81 of the Fortune 500. Our customers include retailer chains, commercial companies, financial institutions and healthcare providers in the USA, the UK, continental Europe and Australia. Top customers in recent years include Accenture, Providence Health System and Regis Corporation.

Following the September 2006 sale of its payment systems and hardware business to VeriFone Holdings, Inc. for US$12.1 million in an all cash transaction, the Company is now focused on expanding and growing its financial software solutions and services business through capitalizing on an increasing demand for risk management and revenue enhancement solutions in financial institutions; expanding demand for compliance and control solutions across its existing customer base; and growing its healthcare business following the acquisition of the business and assets of Concuity, Inc. The future growth of the Company will be underpinned by a strong core customer base and an established market position. The Company proposes to expand this business franchise through investment in new products and markets and will continue to seek further acquisition opportunities in the target markets.

The disclosure below reflects the results of operations from the continuing business.

This excerpt taken from the TTPA 6-K filed Sep 14, 2007.

Overview

We are a leading global provider of integrated financial software and service solutions specializing in financial governance, transaction risk management, and compliance for the commercial, financial and healthcare markets worldwide. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes.

In the quarter ended July 31, 2006, the Company entered into substantive negotiations on the disposal of its Payments business. As a result, the three and six months ended July 31, 2007 financial results reflect the Payments business as a discontinued operation. All prior period statements, except the consolidated statements of cashflows, have been restated accordingly. On September 1, 2006 the Company sold substantially all of the Payments business (excluding its German business) to VeriFone Holdings, Inc. The Company recorded net income from discontinued operations of US$16,000, net of taxes, for the three and six months ended July 31, 2007 which related to a gain on the sale of the Payments business. The Company recorded a net loss from discontinued operations of US$2 million, net of taxes, for the three months ended July 31, 2006 and a net loss of US$3.7 million, net of taxes, for the six months ended July 31, 2006.

The Company now has two business segments: FMS and Healthcare.

The Company has over 480 customers who utilize the Company’s solutions to improve performance through stronger management of the revenue cycle and disbursements, to help ensure the accuracy and integrity of financial data, to identify and reduce transaction risk, to improve the quality and timelines of financial reporting and to strengthen internal controls to support compliance requirements. The Company delivers configurable, highly scalable solutions that incorporate a company’s unique business processes, providing greater visibility and control of critical financial processes in today’s challenging business environment.

The Company supplies four key products and services:

 

   

ReconNet - which has extensive reconciliation capability with specific emphasis on reconciliation and exception management of high volume transaction processing environments. ReconNet has a market leading position in the US retail market, where it is used extensively by treasury and financial control departments in reconciling banking records and cash deposits with point-of-sale transaction records.

 

   

AssureNet - which provides an enterprise process management system for general ledger account reconciliation, review and certification. AssureNet is designed to increase workflow efficiencies and mitigate risk by strengthening internal controls to support Sarbanes-Oxley compliance programs. This capability has particular benefits for large corporations and for complex transaction processing businesses, such as financial institutions.

 

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On Demand Services – this involves the provision of ASP services for ReconNet and AssureNet, as well as the provision of the DataFlow Transaction Network service, which is engaged in the retrieval, processing, aggregation and delivery of transaction data between a financial institution and its customers. The DataFlow Transaction Network currently processes transaction data from over 20,000 accounts in over 5,000 banks in the United States. Traditionally, the DataFlow services supported the provision of daily bank statement data to support the reconciliation and transaction management process. The network has now been expanded to enable the processing of other forms of transaction data to support our customers’ businesses.

 

   

ClearContracts – this ASP service enables health care providers to optimize contract profitability by reconciling payments received from their patients’ insurers to amounts they should have received from claims under the terms of their respective contracts. Using advanced workflow, a healthcare provider’s finance department is then able to resubmit underpaid or denied claims and increase revenue by ensuring reimbursement of the contracted amounts. In addition, ClearContracts provides executive visibility of contract performance and yield and allows healthcare providers to model expected revenues arising from negotiated contract changes.

The Company’s financial governance business generated revenues of approximately US$25.8 million in fiscal 2007, US$21.0 million in fiscal 2006 and US$19.1 million in fiscal 2005. Approximately 65% of the Company’s revenue is recurring revenue from the provision of transaction services, annual license fees, support fees and monthly service and ASP fees. The remaining 35% of revenue is generated from initial license fees and the provision of professional services, such as implementation fees.

The Company’s customer base includes 16 of the Fortune 50 and 81 of the Fortune 500. The Company’s customers include retailer chains, commercial companies, financial institutions and healthcare providers in the USA, the UK, continental Europe and Australia. Top customers in recent years include Accenture, Providence Health System and Regis Corporation.

Following the September 2006 sale of its payment systems and hardware business to VeriFone Holdings, Inc. for US$12.1 million in an all cash transaction, the Company is now focused on expanding and growing its financial software solutions and services business through capitalizing on an increasing demand for risk management and revenue enhancement solutions in financial institutions; expanding demand for compliance and control solutions across its existing customer base; and growing its healthcare business following the acquisition of the business and assets of Concuity, Inc. The future growth of the Company will be underpinned by a strong core customer base and an established market position. The Company proposes to expand this business franchise through investment in new products and markets and will continue to seek further acquisition opportunities in the target markets.

The disclosure below reflects the results of operations from the continuing business.

This excerpt taken from the TTPA 6-K filed Jun 20, 2007.

Overview

We are a leading global provider of financial software and services specializing in reconciliation workflow, revenue enhancement, transaction risk management and compliance for commercial, financial and healthcare markets. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes. On September 1, 2006 the Company sold substantially all of the Payments business (excluding its German business) to VeriFone Holdings, Inc. As a result, the financial results reflect the Payments business/segment as a discontinued operation. All prior period statements, except the consolidated statements of cashflows, have been restated accordingly. The gain on sale is reflected in the fiscal 2007 results. In addition, the Company closed its German business in the quarter ended October 31, 2006. The net loss in fiscal 2007 for the continuing and discontinued businesses amounted to US$2.2 million. The Company now has two business segments: FMS and Healthcare.

The Company delivers a configurable, highly scalable platform that incorporates a company’s unique business processes, enabling managers to obtain greater visibility and more efficiently manage business risk throughout the transaction lifecycle.

The Company’s solutions help customers enhance and recover revenue, reduce transaction costs, eliminate fraud, minimize transaction risk, meet their compliance obligations and maximize cash flow and profitability.

The Company is a leading player in the transaction process management market space and supplies four key products and services:

 

   

ReconNET – which has extensive reconciliation capability with specific emphasis on reconciliation and exception management of high volume transaction processing environments. ReconNET has a market leading position in the US retail market, where it is used extensively by treasury and financial control departments in reconciling banking records and cash deposits with point-of-sale transaction records.

 

   

AssureNET – which provides an enterprise process management system for general ledger account reconciliation, review and certification. AssureNET is designed to increase workflow efficiencies and mitigate risk by strengthening internal controls to support Sarbanes-Oxley compliance programs. This capability has particular benefits for large corporations and for complex transaction processing businesses, such as financial institutions.

 

   

On Demand Services – this involves the provision of ASP services for ReconNET and AssureNET, as well as the provision of the DataFlow Transaction Network service, which is engaged in the retrieval, processing, aggregation and delivery of transaction data between a financial institution and its customers. The DataFlow Transaction Network currently processes transaction data from over 20,000 accounts in over

 

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5,000 banks in the United States. Traditionally, the DataFlow services supported the provision of daily bank statement data to support the reconciliation and transaction management process. The network has now been expanded to enable the processing of other forms of transaction data to support our customers’ businesses.

 

   

ClearContracts – this ASP service enables healthcare providers to optimize contract profitability by reconciling payments received from their patients’ insurers to amounts they should have received from claims under the terms of their respective contracts. Using advanced workflow, a healthcare provider’s finance department is then able to resubmit underpaid or denied claims and increase revenue by ensuring reimbursement of the contracted amounts. In addition, ClearContracts provides executive visibility of contract performance and yield and allows healthcare providers to model expected revenues arising from negotiated contract changes.

The Company’s transaction process management business generated revenues of approximately US$25.8 million in fiscal 2007, US$21.1 million in fiscal 2006 and US$19.1 million in fiscal 2005. Approximately 65% of the Company’s revenue is recurring revenue from the provision of transaction services, annual license fees, support fees and monthly service and ASP fees. The remaining 35% of revenue is generated from initial license fees and the provision of professional services, such as implementation fees.

The Company has a customer base of more than 465 industry leaders, including 13 of the Fortune 50 and 54 of the Fortune 500 companies. Trintech’s customers include retail chains, commercial companies, financial institutions and healthcare providers in the USA, the UK, continental Europe and Australia. Top customers in recent years include Accenture, Providence Health System and Regis Corporation.

Following the September 2006 sale of its payment systems and hardware business to VeriFone Holdings, Inc. for US$12.1 million in an all cash transaction, Trintech is now focused on expanding and growing its financial software solutions and services business through capitalizing on an increasing demand for risk management and revenue enhancement solutions in financial institutions; expanding demand for compliance and control solutions across its existing customer base; and growing its healthcare business following the recent acquisition of the business and assets of Concuity, Inc. The future growth of the Company will be underpinned by a strong core customer base and an established market position. The Company proposes to expand this business franchise through investment in new products and markets and will continue to seek further acquisition opportunities in the target markets.

The disclosure below reflects the results of operations from the continuing business.

This excerpt taken from the TTPA 20-F filed May 29, 2007.

Overview

 

We are a leading global provider of financial software and services specializing in reconciliation workflow, revenue enhancement, transaction risk management and compliance for commercial, financial and healthcare markets. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes. Trintech delivers a configurable, highly scalable platform that incorporates a company’s unique business processes, enabling managers to obtain greater visibility and more efficiently manage business risk throughout the transaction lifecycle. On September 1, 2006 the Company sold substantially all of the Payments business (excluding its German business) to VeriFone Holdings, Inc. As a result, the financial results reflect the Payments business/segment as a discontinued operation. All prior period statements, except the consolidated statements of cashflows, have been restated accordingly. The gain on sale is reflected in the fiscal 2007 results. In addition, the Company closed its German business in the quarter ended October 31, 2006. The net loss in fiscal 2007 for the continuing and discontinued businesses amounted to US$2.2 million. The Company now has two business segments: FMS and Healthcare.

 

The disclosure below reflects the results of operations from the continuing business.

 

This excerpt taken from the TTPA 6-K filed Dec 15, 2006.

Overview

 

The Company is a leading provider of transaction reconciliation solutions and was a leading provider of payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 19 years of experience, the Company’s solutions managed each area of the payment transaction cycle - authentication, authorization, settlement, dispute resolution and reconciliation - enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. The Company had two business segments: Payments and FMS.

 

In the quarter ended October 31, 2006, the Company finalized the disposal of the Payments business. As a result, the financial results for the three and nine months ended October 31, 2006 reflect the Payments business/segment as a discontinued operation. All prior period statements have been restated accordingly. On September 1, 2006 the Company sold substantially all of the Payments business (excluding its German business) to VeriFone Holdings, Inc. The gain on sale is reflected in the results for the quarter ending October 31, 2006. The Company closed its German business in the quarter ended October 31, 2006.

 

The change in disclosure has resulted in the presentation of financial results showing third quarter revenues for the FMS business of US$6.7 million and a net loss of US$18,000 in the quarter for the continuing business. The net income in the quarter for the continuing and discontinued businesses amounted to US$1.8 million. Further information relating to the continuing business is presented below.

 

This excerpt taken from the TTPA 6-K filed Sep 20, 2006.

Overview

 

The Company is a leading provider of transaction reconciliation solutions and was a leading provider of payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 19 years of experience, the Company’s solutions managed each area of the payment transaction cycle - authentication, authorization, settlement, dispute resolution and reconciliation - enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. The Company had two business segments: Payments and FMS.

 

In the quarter ended July 31, 2006, the Company entered into substantive negotiations on the disposal of the Payments business. As a result, the second quarter financial results reflect the Payments business/segment as a discontinued operation. All prior period statements have been restated accordingly. On September 1, 2006 the Company sold substantially all of the Payments business (excluding its German business) to VeriFone Holdings, Inc. The gain on sale will be reflected in the results for the quarter ending October 31, 2006. The Company intends to close its German business in the quarter ending October 31, 2006.

 

The change in disclosure has resulted in the presentation of financial results showing second quarter revenues for the FMS business of US$6.0 million and a net loss in the quarter for the continuing business of US$94,000. The net loss in the quarter for the continuing and discontinued businesses amounted to US$2.1 million. Further information related to the continuing business is presented below.

 

This excerpt taken from the TTPA 6-K filed Jun 16, 2006.

Overview

 

The Company is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 19 years of experience, the Company’s solutions manage each area of the payment transaction cycle - authentication, authorization, settlement, dispute resolution and reconciliation—enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. The Company has two business segments: Payments and FMS.

 

This excerpt taken from the TTPA 20-F filed May 16, 2006.

Overview

 

The Company is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 19 years of experience, the Company’s solutions manage each area of the payment transaction cycle—authentication, authorization, settlement, dispute resolution and reconciliation—enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. The Company has two business segments: Payments and FMS.

 

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