Date Posted: 4/7/2010
Calpine Selects Trintech's Unity XFR to Power External Financial Reporting Processes
Trintech's XBRL Reporting Solution and Other Unity Financial GRC Modules to Automate Financial Close, Reporting, Reconciliation and Compliance Processes For U.S. Energy Company
DALLAS, DUBLIN, Ireland and LONDON, March 30, 2010 (GLOBE NEWSWIRE) -- Trintech Group Plc (Nasdaq:TTPA - News), a leading provider of integrated financial governance, risk management and compliance software solutions, announced today that Calpine Corporation - a major U.S. power company delivering clean electricity to customers in 16 states across the United States and Canada - has selected its Unity Xtensible Financial Reporting (XFR) software with embedded support for report tagging and generation of XBRL-compliant financial statements.
"Calpine's selection of Trintech's Unity XFR demonstrates our commitment to achieving the highest levels of financial transparency and compliance possible," said Glen Vacek, Director of Corporate Reporting. "We chose Unity XFR - and the other components of Trintech's Unity Financial GRC Suite - because of the integrated, modular platform architecture and Trintech's hands-on approach to customer service, training, and support. We are looking forward to a seamless and successful implementation."
Unity XFR is a component of Trintech's Unity platform, a suite of modular software solutions enabling companies to meet their financial governance, risk management and compliance goals. The Unity platform enables companies like Calpine to increase the accuracy and transparency of financial reporting, reduce operational costs, shorten cycle times and reduce the risk of material weaknesses and restatements.
"Trintech is excited that Calpine has chosen Unity XFR," said John Harte, General Manager of Trintech's GRC Division. "In today's increasingly complex and burdensome regulatory environment, businesses like Calpine are recognizing the benefits of consolidating dispersed manual tasks and workflow under an advanced, automated production platform for the Office of Finance."
Unity XFR, with embedded support for XBRL report tagging, is a production platform to manage and record the entire financial reporting process from period close to SEC filing. Advanced collaboration, validation, document management, and workflow features allow customers to harness the distributed expertise of key stakeholders within the business in order to streamline the process of creating quarterly and year-end financial statements. Unity XFR is the only embedded XBRL reporting solution to fully integrate with a workflow and process management module for the entire financial close - Trintech's Unity Financial Close.
Calpine joins over 600 leading global organizations benefiting from Trintech's configurable and highly scalable Financial GRC solutions.
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering nearly 25,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 16 states in the United States and Canada. Calpine owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com/ for more information.
About Trintech Group
Trintech Group Plc (Nasdaq:TTPA - News) is a leading global provider of integrated financial governance, risk management, and compliance software solutions for commercial, financial, and healthcare markets. Trintech's recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance
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