Dublin based and AIM-listed since May 2021, accounts payable experts Glantus Holdings (GLAN) have enjoyed an excellent 2021. In full year results published yesterday the company reported revenues up 27%, margins have gone from 27% to 29% and Glantus are now analysing $1.6 trillion worth of data. "We have delivered on our promises, our expectations for 2021" said CEO Maurice Healy.
Maurice Healy also told us that the market for their 'software as a service'-based automated accounts payable services is forecast to grow from around $2.7 billion to $3.5 billion over the next four years.
"That's the size of the AP SaaS market, and we are pretty unique: we have developed our own software which is disrupting that entire industry at the moment. Much of the work being done around recovery of working capital has been manual to this point and now we have our own technology - with five key areas. Recovery of working capital, fraud detection, analytics, anomaly detection and compliance. So it's a unique package we offer and I think that accounts for why we are getting such traction in the market at the moment."
"We have made those AP departments of large organisations more effective and we are driving more working capital for them because our software does it better" explained Maurice.
