Consolidated Restaurant Operations Selects Trintech’s ReconNET 6.1 To Manage All its Reconciliation Needs Major U.S. Chain with 140 Restaurants Nationwide Implements Trintech’s Leading Reconciliation Solution to Help Reduce Costs and Improve Operational Efficiencies Dallas, Texas/Dublin, Ireland - 24th June 2002 - Trintech Group Plc (NASDAQ: TTPA: Neuer Markt: TTP), a global provider of secure electronic payment infrastructure solutions, announced today that Consolidated Restaurant Operations (CRO) has selected ReconNET 6.1 to manage all its reconciliation and deposit verification requirements.
The Dallas-based company owns, operates and franchises over 140 restaurants around the U.S., with annual sales of $200 million. By leveraging the power of the latest release of ReconNET, CRO can manage its cash, check, and credit card transactions more efficiently. ReconNET 6.1 allows CRO to completely automate the reconciliation process, which translates into significant savings since more restaurants can be added without any changes to the newly-installed system.
"We are extremely pleased with the ReconNET solution," said Paul Hargett, Chief Financial Officer at CRO. "Our goal is to provide 100 percent guest satisfaction across all our stores and to consistently improve sales and profits. With ReconNET, we can streamline our reconciliation process, which helps us meet our commitment to our customers as well as our shareholders. We chose ReconNET because it helps reduce our bank charges, improves efficiencies and ultimately help us grow our business nationally."
Dave Seebeck, Vice President, Information Technology at CRO stated, "One of our main goals this year was to improve efficiencies in our Accounting area through process re-engineering. Trintech will help us meet this goal allowing us to provide a structured methodology to our bank reconciliation processes while improving our cash controls thus contributing to the bottom line.
We will also use ReconNET in the Purchasing Department to match contracted prices with actual invoice level detail, helping us control the expense side of our business. With Trintech's powerful matching ability the future potential is limitless."
ReconNET 6.1 has a range of features that have proved to be attractive to Consolidated Restaurants. This includes an online browser-based application suite, Print to Excel, Fast Find and Favorites functions.
Consolidated Restaurants is clearly a leader in its field and we are delighted they have chosen our ReconNET 6.1 solution to manage their reconciliation needs," said Laura Sellers, VP of Marketing in the Funds Management Systems Division at Trintech. "Today’s announcement confirms our leadership position in the restaurant sector. At Trintech, we believe our ReconNET solution delivers powerful benefits that are particularly relevant to restaurants. These include a significant reduction in the cost of handling large volumes of transaction data, as well as handling cash much more efficiently. Together these features can directly and positively impact the bottom line."
Among the more than 275 leading organizations using ReconNET are such well-known companies as Target Corporation, Eddie Bauer, The Limited, Radio Shack, Foot Locker, Best Buy, Hallmark Cards, Verizon Wireless, Sprint PCS, Kroger, AMC Theaters, Budget Rent a Car, Outback Steakhouse, Burger King, Wendy's, and many others. About ReconNET 6.1 ReconNET, part of Trintech’s PayWare suite of products, provides business-to-business enterprise reconciliation and treasury platforms that streamline the management of cash deposits, credit card payments and disbursements. ReconNET 6.1 features improvements include support for Microsoft SQL 2000, Windows XP Professional, and Crystal 8.5, extensive usability enhancements and a web-enabled application for access to ReconNET via the Internet.
For additional information about the ReconNET solution, contact Trintech at 15851 Dallas Parkway, Suite 940, Addison, TX 75001 (Tel: 972-701-9802) or on the Internet at http://www.trintech.com/ReconNET. About Consolidated Restaurant Operations Consolidated Restaurants Operations (CRO), headquartered in Dallas, Texas, owns, operates and franchises over 140 restaurants nationwide. Our concepts include El Chico, Spaghetti Warehouse, Good Eats, Cantina Laredo, Casa Rosa and Lucky’s Café. System wide sales in 1999 exceeded $200 million. About Trintech Founded in 1987, Trintech is a leading provider of secure electronic payment infrastructure solutions for card-based transactions for physical world commerce, eCommerce and mobile commerce. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as being a world leader in the deployment of payment solutions for Internet commerce that are fully SSL and SET™ compliant. Trintech’s range of scalable open systems architecture solutions for UNIX® and Windows NT™ platforms covers consumer, merchant and financial institution requirements for physical payments and the emerging world of electronic commerce. Trintech can be contacted in the U.S. at 15851 Dallas Parkway, Suite 940, Addison, TX 75001 (Tel: +1-972 701 9802) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353-1-207-4000). Media Contacts:
Trintech US Laura L. Sellers Vice President, Marketing – FMS Division Trintech, Inc. Tel: 972.739.1623 email: laura.sellers@trintech.com |