Trintech, a leading global provider of integrated, cloud-based Record to Report (R2R) finance software solutions for the office of finance, and Wipro, a leading global information technology, consulting and business process services company, announced a strategic partnership to deliver digital solutions that help simplify and automate business finance functions at enterprises.

As a strategic partner, Wipro will offer its clients Trintech's portfolio of financial solutions, which encompass high-volume transaction matching, balance sheet and intercompany reconciliations, journal entries, financial close task management, disclosure and fiduciary reporting, and compliance management. Wipro will work further with its clients to complement Trintech's portfolio with its strong consulting and execution capabilities in three key areas: collaborating with Wipro's AI & Automation platform HOLMESTM to extend the footprint of Trintech's Risk Intelligent RPATM financial solution; planning and delivering world-class financial transformation along with integration services with clients' systems; and post-implementation support utilizing Wipro's global delivery model.

Global research and advisory firm Gartner estimates a 17% year-over-year growth in the IT financial management tool market, with an approximate market size of USD 420.7 million in revenue in 2017.

''We are confident that organizations committed to digitally enabling their financial processes will benefit immensely from the combination of Trintech's financial solutions portfolio and Wipro's expertise in helping businesses simplify and automate their processes. Together, we aim to help clients to not only resolve financial reconciliation and challenges related to month-end closures, but to also transform their finance organization to become simpler, agile, and more efficient,'' said Phil Dunmore, Vice President and Global Head of Consulting, Wipro.

Shares of the company gained Rs 5.85, or 1.99%, to trade at  Rs 299.20.  The total volume of shares traded  was  24,040 at the BSE (9.29 a.m., Thursday).