Trintech's ReconNET the one for TUI northern Europe
TUI Northern Europe, a division of TUI AG, the world's largest tourism and services group, has selected Trintech's ReconNET to automate the verification and reconciliation of cash banking and credit card transactions, including foreign currency deposits from Forex Bureaus distributed throughout its 1,100 agencies. Additionally, the module automates the verification and reconciliation of the company's principal disbursement account.
The ReconNET solution replaces a heavily-customized third-party system that required labour-intensive reconciliation and research processes. ReconNET streamlines cash management processes, increases internal controls, and provides effective risk management and reporting across the company's UK, Ireland, and Nordic agencies.
Steve Newman, director of finance at TUI NE, comments: "Ensuring the highest standards of business efficiency was key -- that's why we wanted an automated solution as well as a more comprehensive, timely process to ensure control of operations.
"The fact that Trintech was able to complete the configuration, implementation and training in a matter of weeks was a massive advantage."
TUI Northern Europe owns many of Europe's best-known holiday brands, and has travelling customers in the UK, Ireland, Sweden, Norway, Denmark and Finland.