Technology Implementations

Introduction:

Implementing financial reconciliation software like Trintech Cadency can significantly streamline financial processes, reduce risk, and improve the accuracy of financial statements. However, successful implementations require careful planning and execution. At The Recon Group, we leverage our deep Trintech product expertise, including over 20 years combined experience working at Trintech, to guide our clients through seamless Cadency implementations. This article outlines the key factors we prioritize to ensure successful outcomes and offers practical advice for navigating common challenges.

Key Success Factors:

A successful Trintech Cadency implementation hinges on more than just installing the software. It requires a holistic approach encompassing people, processes, and technology. Here are the top factors we at The Recon Group focus on:

• Clearly Defined Objectives and Scope: Before starting any implementation, establish clear, measurable goals. What specific challenges are you addressing? What are your desired outcomes (e.g., reduced close time, increased reconciliation coverage, leveraging automation)? Defining the scope ensures the project stays focused and avoids scope creep. Our "listen first" approach guarantees alignment between project scope and your business goals from the outset of the project.

• Executive Sponsorship and Stakeholder Buy-in: Strong leadership support is crucial. Executive sponsors champion the project, allocate resources, and drive adoption. Equally important is engaging stakeholders across relevant departments (operations, accounting, and IT). Their input ensures the solution meets their needs and fosters buy-in.

• Process Optimization and Design: Cadency implementations provide an opportunity to optimize existing financial close processes. We focus on understanding your current workflows, identifying bottlenecks, and designing improved, more efficient processes that leverage Cadency's capabilities. Our bias towards customized design ensures your solution fits your organization’s unique needs.

• Data Migration Strategy: Accurate and reliable data is essential to optimize the capabilities of Cadency. A well-defined data migration strategy is paramount. This includes data extraction, cleansing, validation, transformation, and configuration of data transfer to/loading into Cadency. We focus attention early in the project on data quality to avoid issues down the line.

• Cadency Configuration and Customization: Optimizing Cadency's configuration is key to maximizing its value. Our unparalleled Trintech product expertise, gained through years of working at Trintech, is what allows us to know all the options and help you understand which ones will work best for your organization. In this way, we work with you to tailor the system to your specific requirements. We excel at optimizing and customizing Cadency Match, Certification, Close, Journal Entry, and Compliance modules.

• Change Management and Training: New software often means new ways of working. Effective change management is essential to ensure user adoption. Comprehensive training programs empower users to effectively utilize Cadency and realize its full potential. We provide tailored training to meet your specific business needs while also reducing the learning curve and minimizing operational disruptions.

• Thorough Testing and Quality Assurance: Rigorous testing is essential to identify and resolve any issues before go-live. This includes unit testing, integration testing, and user acceptance testing (UAT). We provide UAT scripts customized to your organization’s business requirements to help your teams focus on validating results while building confidence in day to day use of the system.

• Post-Implementation Support and Optimization: Implementation is just the beginning. Ongoing support and optimization are crucial to ensure the system continues to meet your evolving needs. We provide a full suite of post implementation services to help you maximize your ROI and achieve your long-term goals.