Glantus Holdings PLC - Dublin-based data platform for accounts payable and shared services - Wins contract to provide a recovery audit for London-based distribution and services firm Bunzl PLC for its UK and Ireland businesses. "This Glantus solution enables a self-funding model to identify the root cause of issues, find lost working capital and unlock the use of that capital to automate manual processes in line with Bunzl's continuous improvement model," Glantus explains.
"After a detailed evaluation, Bunzl has appointed Glantus to streamline the process, reduce mistakes, consolidate their data, and give real time reconciliation reports. This will ensure and deliver the efficient, timely and accurate presentation of monthly/quarterly accounts and cashflow projection reporting for their finance shared service centre and the UK/ Ireland business as a whole," Glantus adds.
The firms did not close financial information about the deal.
Current Glantus Holdings stock price: 50.80 pence, up 0.6% on Tuesday
12-month change: down 44%
Current Bunzl stock price: 2,746.00 pence, down 0.5% on Tuesday
12-month change: up 12%
By Tom Budszus; tombudszus@alliancenews.com
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Bunzl (BNZL)