Cloud-based financial close solutions company Trintech has joined forces with consultancy firm PRYZM to modernise and automate finance and accounting processes.
Headquartered in the UK, PRYZM specialises in finance transformation and enterprise performance management (EPM) solutions.
The collaboration aims to provide businesses across Europe, the Middle East, and Africa (EMEA) with enhanced cloud-based finance and accounting solutions.
PRYZM will also offer and implement Trintech’s finance and accounting technologies to help companies streamline their reconciliation and financial close processes, improve accuracy, and reduce operational risk.
PRYZM founder and CEO Dimitrios Christodoulopoulos said: “At PRYZM, we’re thrilled to partner with Trintech to support our clients’ journey in transforming finance processes.
“With Trintech’s solutions, we can help companies simplify complex reconciliations, enhance visibility across accounts, and ensure accuracy in financial reporting.
“As businesses increasingly rely on advanced technology to streamline finance operations, our collaboration with Trintech enables us to provide organisations with precise, automated tools that deliver both control and efficiency across their accounting processes.”
Trintech’s range of cloud-based solutions, including the Cadency Platform for large enterprises and the Adra Suite for mid-market organisations, will allow businesses to automate various financial operations. These include transaction matching, balance sheet reconciliations, intercompany accounting, journal entries, and close management tasks.
The solutions also address governance, risk, and compliance, providing comprehensive tools for companies looking to modernise their financial workflows.
Trintech EMEA managing director Scott Vipond said: “We are excited to formalise our partnership with PRYZM as we continue to expand Trintech’s partner ecosystem across the globe to better serve our new and existing customers.
“Together, Trintech and PRYZM share a common goal in providing organisations with a holistic business vision and strategy to reduce costs, drive efficiencies and mitigate risk across their reconciliation and financial close processes.”
Earlier this year, reports surfaced that US-based private equity companies Summit Partners and Vista Equity Partners were potentially looking to sell Trintech for up to $2bn, including debt.
Trintech reportedly generates around $200m in annual revenue and $90m in earnings before interest, taxes, depreciation, and amortisation.
