Revolutionizing Reconciliations: How Workday and Trintech’s Strategic Alliance Is Changing the Game

Accounting teams face increasing pressure to close the books faster while driving business strategy and growth, yet they’re often hindered by outdated tools and processes. Manual reconciliation and close processes are prone to error, leading to constant corrections and unpredictable obstacles. As a result, teams find themselves burning out to meet tight deadlines, while financial planning gets delayed due to slow financial close cycles. Moreover, digging up supporting documentation for accounts is a challenging task, increasing stress and worry. The constant setbacks found in a manual reconciliation and close process are not sustainable and introduce significant risk to the organization.

It’s time to revolutionize your reconciliations with Workday and Trintech.

The Workday and Trintech Strategic Alliance

Workday, leading provider of cloud ERP software for forward-thinking finance teams, and Trintech, financial close management solution provider, are thrilled to jointly announce a global alliance. This partnership provides a comprehensive suite of pre-built integrations, automating complex account reconciliations and transaction matching processes. It empowers finance and accounting teams to become creators of value to the greater organization while mitigating risk and enhancing efficiency through the use of packaged artifacts.

Trintech Advanced Close & Reconciliation Accelerator for Workday

 The Trintech Advanced Close & Reconciliation Accelerator for Workday is specifically engineered to help address complexities in the reconciliation and close processes that fall outside the core scope of Workday. This partnership focuses on seamless integration for financial close management, account reconciliation, transaction matching processes, and journal entry workflows. This creates a workspace where finance and accounting teams can prioritize critical business tasks, work more efficiently, and gain confidence in their period-end numbers. This not only enhances visibility to key stakeholders but also mitigates the risk of employee burnout by giving time back for what matters most.

By eliminating manual processes and reducing reliance on internal IT teams, users are empowered to automate the collection of external financial transactions across multiple systems. The solution can match millions of transactions to financial accounts in seconds, routing journal entries back to Workday’s GL for a faster and more accurate financial close. This automation not only enhances accuracy but also improves the work-life balance of accounting teams, allowing more time for strategic financial planning and analysis.

Key Benefits:

• Automate thousands of complex reconciliations across millions of financial transactions
• Reduce risk by improving visibility and establishing ownership across close processes
• Reduce resources required to complete month-end close processes to make time count

In an era where efficiency and strategic thinking are paramount, the alliance between Workday and Trintech emerges as a beacon of innovation, revolutionizing reconciliations for the better. This collaboration redefines the approach to financial reconciliations, integrating advanced close and complex reconciliation capabilities from Trintech with Workday’s AI and ML technologies to streamline close processes. Customers can benefit from the best of both worlds: leveraging Trintech’s specialized solutions while still utilizing Workday’s innovative features, such as Journal Insights, Expense Protect, and Customer Payment Matching AI. This partnership enables accounting teams to close the books more swiftly and contribute more significantly to business strategies.