Collaboration changes BPO business dynamics by adding 'disruptive technology' to the F&A levers
“London, Stockholm, Sunnyvale, CA and Noida, India - June 16, 2011 - HCL Technologies Ltd., a leading global IT services provider today announced its partnership with Trintech, a leading financial software provider. HCL will leverage Trintech's Last Mile of Finance platform to deliver its customers with cost reduction and process improvement capabilities.
“"HCL is glad to collaborate with Trintech which is a perfect fit to HCL's strategy to offer wing-to-wing F&A services across O2C, P2P and R2R by adding 'disruptive technology' to F&A levers. We are confident that Trintech's Last Mile of Finance platform will bring tangible improvements to our clients R2R processes, thereby enabling HCL to support clients in key operational and strategic areas of business," said Randy Mueller, Vice President - F&A, Business Services, HCL Technologies Ltd.
“Trintech offers a robust web-based platform on which HCL can transform its clients' R2R processes. By leveraging Trintech's Last Mile of Finance platform HCL will provide clients with complete, realtime visibility across multiple ERPs and disparate legacy systems; the Trintech platform enables HCL to automate clients' reconciliations and streamline the entire financial close process to ensure compliance, improved cycle times, and reduced costs.
“'Trintech is pleased to include HCL in our partner portfolio. BPO services have matured and are not just about labor arbitrage any longer. Process standardization and operational excellence, enabled by technology such as Trintech's 'Last Mile of Finance' platform, delivers year-on-year efficiency gains, providing standardisation, control and automation as well as visibility and transparency across the organization which is now key for CFOs particularly when looking to outsource to external providers," said Paul Byrne, CEO Trintech.
About HCL Technologies
“HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on 'transformational outsourcing', underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of 'Employee First, Customer Second' which empowers our 73,420 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 3.3 billion (Rs. 15,160 crores), as on 31 March 2011 (on LTM basis). For more information, please visit www.hcltech.com
“HCL is a $5.9 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 80,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.com
“Trintech is the leading global provider of integrated software solutions for the Last Mile of Finance. From the time a transaction occurs to the time financial statements are issued, Trintech's innovative Unity Suite automates data collection, account reconciliation, financial close management, financial reporting, XBRL, and financial control testing. As a result, our 600 clients and 100,000 users worldwide benefit from an enterprise wide view into critical financial processes, and are able to increase efficiency, improve visibility, shorten cycle times, lower costs, and reduce risk.
“Trintech clients include 50% of the Fortune 50 and nearly 25% of the Fortune 500 representing retailers, manufacturers, financial institutions and healthcare providers globally. Trintech clients include Google, Microsoft, RR Donnelley, Regis Corporation, Walmart, O2, Blackstone, BAE Systems, Skype, HSBC and Toyota Financial Services.
““For more information on how Trintech can help you transform your Last Mile of Finance, please contact us online at www.trintech.com or at our principal business office in Dallas, Texas, or through an international office in Ireland, the United Kingdom, or the Netherlands.
Trintech . 15851 Dallas Parkway, Suite 900 . Addison, TX 75001 . Tel 1 972 701 9802
Trintech UK, Ltd. . 2nd Floor . 4-6 Throgmorton Avenue . London EC2N 2DL . Tel: +44 (0) 20 7628 5235
Trintech Technologies Limited . Suite 13B, Classon House, Dundrum Business Park . Dublin 14, Ireland . Tel +353 1 298 4472
Trintech . Cypresbaan 9 . 2908 LT Capelle a/d Ijssel, The Netherlands . Tel +31 (0) 10 8507 474
Follow Trintech on Twitter: @TrintechInc
“Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
HCL Press Contacts:
Mob: +91 96000 48422
United States of America
Trintech Press Contacts:
EMEA: Carol Orr - Marketing Manager
Phone: +1 +44 (0) 207 382 0490 -
Dallas: Patrick Ferguson - Marketing Manager
Phone: +1 972 739 1617 -