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July 26, 2009

Trintech Unveils XFR With Embedded Support For XBRL

Offers a single system of record for fully compliant financial statements and data

By CBR Staff Writer

Trintech Group has unveiled Unity Xtensible Financial Reporting (XFR), a financial reporting software solution with embedded support for the tagging and output of XBRL-compliant financial statements.

The company has said that Unity XFR can be purchased as a standalone financial reporting solution to manage the reporting process, from period close to regulatory filing. Else, it can be fully integrated with Unity Financial Close to enable advanced workflow, task management, review and approval of financial close processes.

Theresa Clark, VP of Finance Transformation at Trintech, said: Embracing XBRL as more than just a compliance requirement will be part of moving reporting from merely a statutory obligation into a competitive tool. Unlike other XBRL financial reporting tools, Unity XFR is embedded with an overall process and workflow technology that extends the capabilities of existing ERP or CPM solutions. Unity XFR facilitates this integration and offers a single system of record for fully compliant financial statements and data.

David Taylor, VP of Strategy, Trintech, commented: Trintech’s new Unity XFR solution comes with an embedded XBRL financial reporting tool which can be fully integrated with our Compliance (SOX) Solution as well as our end-to-end process and workflow management solution for the entire financial close. This allows our customers to streamline operations and realize significant savings: from the first mile of the financial close to the last mile of financial reporting, the only truly integrated financial governance suite on the market.

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Trintech Group is a provider of integrated financial governance, risk management, and compliance software solutions for commercial, financial, and healthcare markets.

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