5 Trintech Alternatives: Top Options for Financial Close

Financial close is one of the most critical company processes, which includes reviewing, reconciling and finalising all financial transactions for a specific period - month, quarter or year. Enterprises usually aim for financial close software to ease the activities and ensure accuracy, commonly choosing between the market leaders like Aico, Cadency by Trintech, Blackline, FloQast and so on. 

Properly chosen financial close tool ensures accurate financial health and enables informed decision-making in each stage of the process. Sometimes, companies use one solution, but they need to migrate to another, looking for appropriate alternatives. So today, we'll take a look at the Trintech alternatives available on the market. 

What is Trintech?

Trintech provides specialised software platforms, primarily Adra and Cadency, that address key challenges in the financial close cycle, including task management, account reconciliation, transaction matching, journal entry automation and compliance.

Adra is focused more on mid-sized businesses, while Cadency covers the enterprise-level financial closing process. These solutions are recognised by many companies worldwide, with thousands of active users daily. So, why look for Trintech alternatives, or more precisely, Cadency alternatives?

Why Would Cadency Users Look for an Alternative?

Cadency by Trintech is a robust and widely respected financial close platform for large enterprises, but there are several reasons why users might seek alternatives:

• Complex Learning Curve: While respected among users, Cadency comes with a challenging learning curve, requiring prolonged onboarding and training. 
• Integration Challenges: Some users report challenges with complex and custom integrations with a need for many manual workarounds.
• Implementation Time and Cost: Cadency often requires a longer implementation timeline and higher upfront investment, especially for large organisations with complex needs.
• Desire for Greater Automation: Some Cadency by Trintech users may look for something more advanced and modern, following the current trends in SaaS for finance solutions.

In summary, those who use Cadency or consider using it but want to explore more may do that to adjust the usability, costs, support, scalability and advanced automation within their enterprises. 

Discovering the Top 5 Cadency by Trintech Alternatives

Whether you made a decision to use an alternative or you just explored the market, here are the top alternatives to Cadency by Trintech to consider:

1. Aico - Enterprise-level Closing Solution

Aico stands out as a top alternative to Cadency by Trintech, addressing the most common challenges European companies may face. For enterprises that operate in the EU, Nordics, Benelux and the United Kingdom, Aico is the best solution as it adheres to the local laws and financial operations, ensuring an efficient financial close process no matter the period. 

What Aico Offers?

• Unified and Configurable Platform: With Aico, you can manage the tasks, journal entries, reconciliations, intercompany invoices and compliance using one dashboard that answers your company's needs - without compromising accuracy.
• Real-Time Integrations: Enjoy the seamless live ERP integration, allowing your finance team to work with the most current data, automate reconciliations and ensure immediate posting of journal entries.
• Advanced Automation: Aico automates manual and repetitive tasks while providing compliance monitoring, which speeds up the period-end closes, keeping them accurate.
• Superior User Experience: The platform is designed for ease of use, with a modern interface and intuitive workflows that drive high adoption rates among finance teams.
• Comprehensive Features: Automated reconciliations, real-time intercompany matching, compliance, integrations with forecasting and analysis (after merger with Mercur)

How does Aico compare to Cadency by Trintech regarding the financial close solutions?

2. BlackLine

BlackLine as an alternative is a popular financial solution worldwide. It offers robust account reconciliation, journal entry management, high-volume transaction matching, task management and strong audit/compliance capabilities. 

Why choose it as a Cadency alternative?

• A unified platform for complete finance control and automation
• Integrations with major ERP systems and global accessibility
• BlackLine is also focused on releasing new features, often

3. FloQast

FloQast streamlines financial close processes for large accounting teams. It can be used to manage external and internal finance teams efficiently, too. 

Why choose it as a Cadency alternative?

• Centralised workflows and real-time visibility
• ERP integrations for accurate close tasks and reconciliations
• Modern interface that is also relatively easy to use

4. Vena

Vena offers Excel-native flexibility, making it easier for onboarding and adoption. It's suitable for large companies seeking robust financial close and performance management solutions.

Why choose it as a Cadency alternative?

• Rapid reporting features that save time for your team
• Centralised data and consolidated reporting and analysis
• Ideal for enterprises needing close management in a familiar Excel environment

5. Workiva

Workiva offers a centralised platform for many finance-related activities. It is often used for financial close management, regulatory reporting and audit support.

Why choose it as a Cadency alternative?

• Real-time collaboration platform to easily manage any-size team
• Regulatory focus and compliance documentation
• Works for large organisations that need simple close solutions

What to Look For in Cadency by Trintech Alternatives?

When comparing Cadency to the other five alternatives, we kept a few essential criteria in mind. 

We focused on features and capabilities that support a robust, compliant and efficient financial close and automation process, like:

• Core Functionalities: Automated financial close, account reconciliations and close task management 
• Integration Capabilities: ERP compatibility (SAP, Oracle, Microsoft Dynamics and data API integration for real-time handling
• Automation and Intelligence: Rule-based automation, machine learning capabilities and accuracy
• Audit and Compliance: Documentation, audit trails, control testing and role-based permissions when using the tool
• Usability and Collaboration: Adoptive user interface, task assignment and team coordination
• Scalability and Flexibility: Multi-entity support for growing businesses that need to scale the solution as they grow

Here's a breakdown:

Conclusion

As the demands on finance teams grow more complex, large enterprises are increasingly seeking automated solutions to streamline and control their financial close processes. While Cadency by Trintech offers comprehensive policy-driven close automation, some alternatives offer greater flexibility, advanced automation, real-time ERP integration and enhanced user experiences. 

Platforms like Aico, BlackLine, FloQast, Vena, and Workiva each bring unique strengths like hyper-configurable workflows and live data integration, as well as intuitive interfaces or Excel-native environments. The best fit ultimately depends on organisational size, process complexity, technology stack and the need for collaboration, compliance and scalability. By carefully evaluating these alternatives, finance leaders can select a solution that accelerates the close and empowers their teams to focus on strategic value creation.

Curious to discover how Aico works?

Frequently Asked Questions

1. What are the main reasons enterprises seek alternatives to Cadency by Trintech?

Enterprises may look for alternatives due to Cadency’s complexity, integration challenges, user interface concerns, implementation time and cost, customer support experiences, scalability needs or the desire for more advanced automation and innovation[.

2. How does Aico compare to Cadency for large organisations?  

Aico is a top alternative for large enterprises thanks to its unified, highly configurable platform, real-time ERP integration, advanced automation and modern user experience. It matches or exceeds Cadency’s strengths in automation, compliance and global process management.

3. How does Aico’s real-time ERP integration benefit the financial close process?

Aico’s real-time ERP integration ensures finance teams always work with up-to-date data, automates reconciliations and journal entries and provides a single source of data, leading to faster, more accurate closes and improved compliance.