Latest news with #Trintech
Yahoo
4 days ago
- Business
- Yahoo
Why Trintech's CFO still values his CPA license after 30 years
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. Trintech CFO Omar Choucair has spent his career navigating the full spectrum of CFO challenges. Areas like public markets, private equity, M&A, ERP overhauls and everything in between have made up the bulk of his career in corporate finance. Now, he brings a perspective rooted in collaboration, clear communication and a long-standing commitment to staying active as a CPA. In a recent interview, Choucair discusses the biggest lessons learned in his career, what makes ERP transitions succeed or fail, how to survive private equity oversight, why being frugal when hiring for the finance team may backfire, the declining number of CPAs among CFOs and more. CFO, Trintech First CFO Position: 1999 Notable previous employers: Multiview DG FastChannel Chancellor Media KPMG Audit This interview took place at Gartner's CFO and Finance Executive Conference in National Harbor, Maryland, on May 20. It has been edited for brevity and clarity. OMAR CHOUCAIR: I've kept it up for 30 years. One of the few CFOs who do. It's really important to me personally. The issue of young, smart people not getting into accounting isn't going to be solved by changing to four years. It's about the money. There has to be more money in public accounting. I firmly believe my success is tied to my 10 years at KPMG. The experience, deadlines, challenges, communication skills, stress — you can't get that anywhere else. That's the best starting ground for a CFO. I have two daughters. They did 150 hours and got their CPAs. Early on, their friends were making 30, 40, 50% more than they were. That's a downer. And millennials, the kids today, want to get paid for what they've done. "The answer, or at least a big part of it, is that young people have to get paid more money in public accounting." Omar Choucair CFO, Trintech The Big Four have increased salaries somewhat, maybe 20–30% in the last two years, so maybe there will be some alleviation there in the future. But from an education perspective, I got my CPA after 120 hours and turned out fine. I don't think that's the answer. The answer, or at least a big part of it, is that young people have to get paid more money in public accounting. Yes, absolutely. Now it's changed. A lot of people come through finance or operations. But for me, I'd rather have the base of how things work in a company and then get the operational experience. I love operations, but I think it's very hard to come from ops and then understand how the program works. COVID changed it for me because when it happened, people were really distraught. And the only thing they knew to do was go, 'Hey, we need to go check with the CFO,' because there were capital issues, there were debt issues, you had employee issues, culture issues, IT issues — every issue could come up. That March [2020], people were doing hundreds of different types of forecasts. I think that was like the watershed. Communication across the C-level. I think many companies worked in silos. Even though they didn't want to, I think many organizations did, just because that's the way the CEO set it up. But once COVID hit, everything had to be on the table, and the CFO was the go-to person in many companies. Everybody had to talk to each other. There had to be somebody taking notes, setting up execution items — who was going to do what by tomorrow? Who was going to do what by next week? And in many cases, it just fell on the CFO. So I'm just saying, to me, that's it — everything accelerated because the world got more complicated. It taught me the value of streamlined communication and cross-collaboration. I spent a little over 15 years in public companies and then did my first period with private equity for five years. You have to be incredibly organized around both organization and communication. Those are the two keys. "As a public company CFO, you can't miss more than two metrics. If you miss revenue growth, EPS or another metric, your stock's gonna collapse 20-30%." Omar Choucair CFO, Trintech You have to be able to see around corners. And the only way to see around corners is to make sure you're organized and can communicate. And that's what I would tell people trying to take their first step. As long as you're aligned with the CEO and you're aligned with the private equity team, even if there's misalignment between CEO and PE, the train will go off the rails if the CFO communication isn't there with both parties. It's not less demanding, it's different. This is what I tell everyone: As a public company CFO, you can't miss more than two metrics. If you miss revenue growth, EPS or another metric, your stock's gonna collapse 20-30%. In private equity, you have 20 metrics. And it's OK if you miss a metric or two here and there, as long as you have a very well-filed, executed recovery plan for those metrics. It's just so much different. This is another major difference between working for a public company and one owned by private equity. It's hard in private equity. In public companies, it's more important. When people leave private equity, you often promote internally or restructure. My view has always been: get the absolute best people — people smarter than me. And when that happens, there's an opportunity. We just did that recently with a departure. From what I've seen in private equity, formal documents that have outlined succession plans for executives don't usually exist. The board may have an idea. If something happened to me where I had to suddenly leave, I think my fellow executives and finance team could keep things going for six months to a year. And if someone internal can step up, great. If not, they'd go external. It's a timely question, because we're looking at that right now. Nothing can prepare a company or a CFO more than complete, massive documentation — flowcharts and documentation narratives. I spent 10 years in public accounting, and I learned quickly that finance needs a narrative that can take people across the organization through the accounts payable cycle. For companies to be successful, you need all those narratives and flowcharts completely cooked, baked and ready to go. "I spent 10 years in public accounting, and I learned quickly that finance needs a narrative that can take people across the organization through the accounts payable cycle." Omar Choucair CFO, Trintech In the last 10 years, we've done order-to-cash implementations, ERP implementations, HR implementations — they're all incredibly difficult. Make sure you have all your narratives and your flowcharts done, and you have to hire and onboard really good people before any implementations. Typically, you don't have those people on staff, so you have to hire consultants. If you do this proactively, and you're not cheap on hiring people, it will help make the process much smoother later on. I never blame salespeople. It's procurement, it's legal, it's me. You can't contract with an ERP company and then six months later say, 'Well, that's different than what they said.' It's always going to be different. It's up to the company. People who have been around discount a lot of what salespeople tell them. And that's what we do — so you have to assume what people are telling you is not 100%. As an organization, we automate front-end solutions and reconcile third-party data systems into ERPs, but we don't replace the ERP. We make it stronger and more effective. So luckily, we can use our own tools. However, over the last four years, we've aggressively tried to upgrade every piece of the stack. That includes the FP&A tools, all the data tools and now our ERP. Recommended Reading Cin7 CFO Erik Rothschild on scaling finance under private equity Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
5 days ago
- Business
- Globe and Mail
Trintech Builds on Record-Breaking FY25 with Accelerated Global Growth and AI Innovation in Q1 FY26
Trintech expands international presence, continues to advance AI Financial Close capabilities, and fuels strong customer momentum DALLAS , May 29, 2025 /CNW/ -- Trintech, the global leader in AI Financial Close solutions for the Office of Finance, announced today continued global growth and expansion in Q1 FY26 following a record-breaking FY25 (ended January 31, 2025 ). Driven by market-driven innovation and an unyielding commitment to customer and partner success, Trintech's solutions continue to deliver transformative results related to AI Financial Close —streamlining, automating, and accelerating the reconciliation and financial close process for organizations of all sizes. "Our strong Q1 results highlight Trintech's commitment to innovation, customer success, and global growth," said Darren Heffernan , CEO of Trintech. "With new customer wins, expanded deployments, AI-driven advancements, and new offices in India , we're proud of the momentum we've built. Our growing partnership with Workday is unlocking new value for joint customers, and we're excited by the market's response. Trintech also continues to lead in the banking and financial services industry, where our ability to automate complex processes—such as high-volume daily matching—helps some of the world's most demanding organizations modernize and scale with confidence." Trintech's focus on cultivating a game-changing partner ecosystem continues to deliver. With an amplified focus on our partnership with Workday --the world's fastest growing ERP provider, driven by AI—Trintech continues to help new and existing joint customers unlock ROI with best-in-class reconciliation and financial close processes. "One of our main goals in looking for a solution was simply to get our reconciliation activities into a database or solution (rather than Excel), but we also use a three-way match system, so there's a lot of intricate data points and factors to consider, as well. We saw demos of a few other solutions, but Trintech's matching capabilities are unmatched. No other solution on the market compares to how we can match with Trintech." – CNG Holdings "We regularly have 200,000+ transactions every month, but during our busy season we'll ramp up to over a million credit card transactions a month. Leveraging automation has been a huge help in managing this volume, for both transaction matching and balance sheet reconciliations." – H&R Block "Workday has served us well as our ERP. Their partnership with Trintech is a huge plus for data management and we're excited to further integrate the systems to further optimize our financial processes." - Enova Reinforcing its commitment to innovation, Trintech introduced significant enhancements in Q1 across its Adra (mid-enterprise), Cadency and Frontier (large enterprise) solutions. Within the Adra Suite, Trintech unveiled AI-driven Journal Entry Automation, a breakthrough designed to help mid-enterprise organizations centralize and streamline journal entry creation, approval, and ERP posting to accelerate their financial close. Simultaneously, Trintech expanded its Cadency solution with new Intercompany Automation capabilities that simplify and standardize complex intercompany processes across global entities. The enhancements automate transaction matching, reconciliation, cost allocations, and settlements—cutting down manual work, improving compliance, and speeding up the financial close. Additionally, the introduction of DirectCloud for both Cadency and Frontier offers large-enterprise customers with more stringent security features. While providing all the efficiency and ROI gains of a cloud environment, DirectCloud customers gain the security of single-tenancy and a direct, non-internet-based link to their environment – ensuring the highest security without sacrificing efficiency. As part of its global expansion, Trintech launched new operations in Bengaluru and Noida, India —strategic hubs designed to accelerate growth, drive innovation, and strengthen its presence in the rapidly evolving Asia-Pacific financial close market. These investments, along with the appointment of Claudia Pirko to lead efforts in the APAC region, underscore Trintech's commitment to meeting growing international demand and enhancing service delivery worldwide. Lastly, Trintech's continued focus on innovation, successful customer deployments, and a strong commitment to excellence have earned the company multiple industry accolades in FY25. Its AI Financial Close solutions were ranked #1 on several G2 grids for financial close software and recognized as a Market Leader in Featured Customers' 2025 Financial Close Management Software Customer Success Report. Additionally, in 2025, Trintech was recognized as one of the Best and Brightest Companies to Work For® in the Nation, and for the tenth consecutive year in the Dallas/Fort Worth region —demonstrating its ongoing commitment to a thriving workplace culture and meaningful employee engagement. About Trintech Trintech gives people time back for what matters most. Our AI Financial Close solutions enable thousands of clients worldwide to lead productivity transformation across their finance and accounting organizations — driving efficiencies, ensuring accuracy to mitigate risk, and empowering strategic decision-making. Make time count with Trintech. As the leader in AI Financial Close Management, Trintech is headquartered in Plano, Texas with offices and strategic resellers across United States , Europe , Australia , South America , Africa , and Asia Pacific . With a strong partner ecosystem, Trintech collaborates with over 100 companies to create a network of interconnected businesses. To learn more about Trintech, visit
Yahoo
5 days ago
- Business
- Yahoo
Trintech Builds on Record-Breaking FY25 with Accelerated Global Growth and AI Innovation in Q1 FY26
Trintech expands international presence, continues to advance AI Financial Close capabilities, and fuels strong customer momentum DALLAS, May 29, 2025 /CNW/ -- Trintech, the global leader in AI Financial Close solutions for the Office of Finance, announced today continued global growth and expansion in Q1 FY26 following a record-breaking FY25 (ended January 31, 2025). Driven by market-driven innovation and an unyielding commitment to customer and partner success, Trintech's solutions continue to deliver transformative results related to AI Financial Close —streamlining, automating, and accelerating the reconciliation and financial close process for organizations of all sizes. "Our strong Q1 results highlight Trintech's commitment to innovation, customer success, and global growth," said Darren Heffernan, CEO of Trintech. "With new customer wins, expanded deployments, AI-driven advancements, and new offices in India, we're proud of the momentum we've built. Our growing partnership with Workday is unlocking new value for joint customers, and we're excited by the market's response. Trintech also continues to lead in the banking and financial services industry, where our ability to automate complex processes—such as high-volume daily matching—helps some of the world's most demanding organizations modernize and scale with confidence." Trintech's focus on cultivating a game-changing partner ecosystem continues to deliver. With an amplified focus on our partnership with Workday--the world's fastest growing ERP provider, driven by AI—Trintech continues to help new and existing joint customers unlock ROI with best-in-class reconciliation and financial close processes. "One of our main goals in looking for a solution was simply to get our reconciliation activities into a database or solution (rather than Excel), but we also use a three-way match system, so there's a lot of intricate data points and factors to consider, as well. We saw demos of a few other solutions, but Trintech's matching capabilities are unmatched. No other solution on the market compares to how we can match with Trintech." – CNG Holdings "We regularly have 200,000+ transactions every month, but during our busy season we'll ramp up to over a million credit card transactions a month. Leveraging automation has been a huge help in managing this volume, for both transaction matching and balance sheet reconciliations." – H&R Block "Workday has served us well as our ERP. Their partnership with Trintech is a huge plus for data management and we're excited to further integrate the systems to further optimize our financial processes." - Enova Reinforcing its commitment to innovation, Trintech introduced significant enhancements in Q1 across its Adra (mid-enterprise), Cadency and Frontier (large enterprise) solutions. Within the Adra Suite, Trintech unveiled AI-driven Journal Entry Automation, a breakthrough designed to help mid-enterprise organizations centralize and streamline journal entry creation, approval, and ERP posting to accelerate their financial close. Simultaneously, Trintech expanded its Cadency solution with new Intercompany Automation capabilities that simplify and standardize complex intercompany processes across global entities. The enhancements automate transaction matching, reconciliation, cost allocations, and settlements—cutting down manual work, improving compliance, and speeding up the financial close. Additionally, the introduction of DirectCloud for both Cadency and Frontier offers large-enterprise customers with more stringent security features. While providing all the efficiency and ROI gains of a cloud environment, DirectCloud customers gain the security of single-tenancy and a direct, non-internet-based link to their environment – ensuring the highest security without sacrificing efficiency. As part of its global expansion, Trintech launched new operations in Bengaluru and Noida, India—strategic hubs designed to accelerate growth, drive innovation, and strengthen its presence in the rapidly evolving Asia-Pacific financial close market. These investments, along with the appointment of Claudia Pirko to lead efforts in the APAC region, underscore Trintech's commitment to meeting growing international demand and enhancing service delivery worldwide. Lastly, Trintech's continued focus on innovation, successful customer deployments, and a strong commitment to excellence have earned the company multiple industry accolades in FY25. Its AI Financial Close solutions were ranked #1 on several G2 grids for financial close software and recognized as a Market Leader in Featured Customers' 2025 Financial Close Management Software Customer Success Report. Additionally, in 2025, Trintech was recognized as one of the Best and Brightest Companies to Work For® in the Nation, and for the tenth consecutive year in the Dallas/Fort Worth region—demonstrating its ongoing commitment to a thriving workplace culture and meaningful employee engagement. About Trintech Trintech gives people time back for what matters most. Our AI Financial Close solutions enable thousands of clients worldwide to lead productivity transformation across their finance and accounting organizations — driving efficiencies, ensuring accuracy to mitigate risk, and empowering strategic decision-making. Make time count with Trintech. As the leader in AI Financial Close Management, Trintech is headquartered in Plano, Texas with offices and strategic resellers across United States, Europe, Australia, South America, Africa, and Asia Pacific. With a strong partner ecosystem, Trintech collaborates with over 100 companies to create a network of interconnected businesses. To learn more about Trintech, visit Media Contact: Kelli Shoevlin Director, Global Corporate Marketing & Communications View original content to download multimedia: SOURCE Trintech View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
5 days ago
- Business
- Cision Canada
Trintech Builds on Record-Breaking FY25 with Accelerated Global Growth and AI Innovation in Q1 FY26
Trintech expands international presence, continues to advance AI Financial Close capabilities, and fuels strong customer momentum DALLAS, May 29, 2025 /CNW/ -- Trintech, the global leader in AI Financial Close solutions for the Office of Finance, announced today continued global growth and expansion in Q1 FY26 following a record-breaking FY25 (ended January 31, 2025). Driven by market-driven innovation and an unyielding commitment to customer and partner success, Trintech's solutions continue to deliver transformative results related to AI Financial Close —streamlining, automating, and accelerating the reconciliation and financial close process for organizations of all sizes. "Our strong Q1 results highlight Trintech's commitment to innovation, customer success, and global growth," said Darren Heffernan, CEO of Trintech. "With new customer wins, expanded deployments, AI-driven advancements, and new offices in India, we're proud of the momentum we've built. Our growing partnership with Workday is unlocking new value for joint customers, and we're excited by the market's response. Trintech also continues to lead in the banking and financial services industry, where our ability to automate complex processes—such as high-volume daily matching—helps some of the world's most demanding organizations modernize and scale with confidence." Trintech's focus on cultivating a game-changing partner ecosystem continues to deliver. With an amplified focus on our partnership with Workday --the world's fastest growing ERP provider, driven by AI—Trintech continues to help new and existing joint customers unlock ROI with best-in-class reconciliation and financial close processes. "One of our main goals in looking for a solution was simply to get our reconciliation activities into a database or solution (rather than Excel), but we also use a three-way match system, so there's a lot of intricate data points and factors to consider, as well. We saw demos of a few other solutions, but Trintech's matching capabilities are unmatched. No other solution on the market compares to how we can match with Trintech." – CNG Holdings "We regularly have 200,000+ transactions every month, but during our busy season we'll ramp up to over a million credit card transactions a month. Leveraging automation has been a huge help in managing this volume, for both transaction matching and balance sheet reconciliations." – H&R Block "Workday has served us well as our ERP. Their partnership with Trintech is a huge plus for data management and we're excited to further integrate the systems to further optimize our financial processes." - Enova Reinforcing its commitment to innovation, Trintech introduced significant enhancements in Q1 across its Adra (mid-enterprise), Cadency and Frontier (large enterprise) solutions. Within the Adra Suite, Trintech unveiled AI-driven Journal Entry Automation, a breakthrough designed to help mid-enterprise organizations centralize and streamline journal entry creation, approval, and ERP posting to accelerate their financial close. Simultaneously, Trintech expanded its Cadency solution with new Intercompany Automation capabilities that simplify and standardize complex intercompany processes across global entities. The enhancements automate transaction matching, reconciliation, cost allocations, and settlements—cutting down manual work, improving compliance, and speeding up the financial close. Additionally, the introduction of DirectCloud for both Cadency and Frontier offers large-enterprise customers with more stringent security features. While providing all the efficiency and ROI gains of a cloud environment, DirectCloud customers gain the security of single-tenancy and a direct, non-internet-based link to their environment – ensuring the highest security without sacrificing efficiency. As part of its global expansion, Trintech launched new operations in Bengaluru and Noida, India —strategic hubs designed to accelerate growth, drive innovation, and strengthen its presence in the rapidly evolving Asia-Pacific financial close market. These investments, along with the appointment of Claudia Pirko to lead efforts in the APAC region, underscore Trintech's commitment to meeting growing international demand and enhancing service delivery worldwide. Lastly, Trintech's continued focus on innovation, successful customer deployments, and a strong commitment to excellence have earned the company multiple industry accolades in FY25. Its AI Financial Close solutions were ranked #1 on several G2 grids for financial close software and recognized as a Market Leader in Featured Customers' 2025 Financial Close Management Software Customer Success Report. Additionally, in 2025, Trintech was recognized as one of the Best and Brightest Companies to Work For® in the Nation, and for the tenth consecutive year in the Dallas/Fort Worth region —demonstrating its ongoing commitment to a thriving workplace culture and meaningful employee engagement. About Trintech Trintech gives people time back for what matters most. Our AI Financial Close solutions enable thousands of clients worldwide to lead productivity transformation across their finance and accounting organizations — driving efficiencies, ensuring accuracy to mitigate risk, and empowering strategic decision-making. Make time count with Trintech. As the leader in AI Financial Close Management, Trintech is headquartered in Plano, Texas with offices and strategic resellers across United States, Europe, Australia, South America, Africa, and Asia Pacific. With a strong partner ecosystem, Trintech collaborates with over 100 companies to create a network of interconnected businesses. To learn more about Trintech, visit
Business Standard
16-05-2025
- Business
- Business Standard
Trintech Expands Adra Suite with AI- Driven Journal Entry Automation to Accelerate Month-End Close for Mid- Market Organizations
VMPL Noida (Uttar Pradesh) [India], May 16: Trintech, a leading global provider of cloud-based financial close solutions for the Office of Finance, today announced the launch of Adra Journal Entry, a new module within its Adra Suite. Purpose-built for mid-market finance teams, Adra Journal Entry uses AI-driven automation with intelligent workflows to centralize and streamline journal entry creation, approval, and ERP posting. By integrating journal entry functionality directly into the Adra Suite, organizations significantly reduce the manual effort, risk of errors, and time associated with month-end close, while improving audit readiness and visibility. "Accounting teams are under constant pressure to do more with less--faster, and with greater accuracy," said Michael Ross, Chief Strategy and Product Officer of Trintech. "With Adra Journal Entry, we're empowering mid-sized companies with AI tools to simplify journal creation, integrate more deeply with their ERP systems, and cut labor costs, all while maintaining complete control and visibility." Adra Journal Entry is a natural extension for current users of Adra Matcher (automated transaction matching) and Adra Balancer (automated balance sheet reconciliations), enabling a centralized workflow for journal creation and reconciliation. Adra Journal Entry eliminates disconnect by enabling journal entries to be created directly within the Adra Suite and then posted to the ERP via packaged API integrations, providing a connected, trusted, and single-source-of-truth across the financial close process. "We're excited to implement Adra Journal Entry for managing all our journal entries. Instead of collecting individual files from each employee on an ad-hoc basis, our team now streamline the process--creating and exporting all entries in a single, consolidated upload each week. We are looking forward to driving further efficiencies with the Adra Suite by no longer having to manage this process in Excel spreadsheets," said Justin Sorrells, Sr. Manager at Sunbelt Rentals. Key Benefits: * Centralized Control - Consolidate all journal entries in one system to improve consistency and compliance. * Superior Auditability - Maintain a complete and accurate record of entries for faster, smoother, and accurate audits. * Streamlined Workflow - Automatic ERP posting ensures minimal disruption and no need to toggle between systems. * Reduced Labor Costs - With automation, labor costs associated with journal entries are reduced by over 70%. Real-World Use Cases Enhanced by AI: * Vendor and customer transaction postings * Intercompany cost allocations * Error corrections and reconciliation adjustments * Tax and currency-related journal entries * Capital asset and bank fee postings Unlike competing solutions that either overcomplicate the process or operate in silos, AI-powered Adra Journal Entry provides the right balance of functionality and simplicity--ideal for mid-market finance teams who want more efficiency without complexity. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
