5 Jul 2022 07:00
Glantus Holdings plc
("Glantus" or the "Company")
CUSTOMER WIN
Bunzl selects Glantus for Recovery Audit and Automated Statement Reconciliation
Glantus plc (AIM: GLAN), a leading provider of software as a service ("SaaS") solutions delivering automation and analytics to the Accounts Payable ("AP") function, is pleased to announce Glantus has been chosen by Bunzl plc ("Bunzl") to provide a recovery audit and an automated statement reconciliation solution for it's UK / 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.
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. The task of reconciling the creditor's ledger against supplier statements is an essential financial control for Bunzl, but it can be a manual, onerous, time-consuming task. Bunzl sought a provider to support them on a project to transform the AP function.
Proven integration with Bunzl's ERP stack, combined with Glantus' experience within the audit recovery space and strong relationships with stakeholders across various levels, were key factors in Bunzl choosing to partner with Glantus.
Laurence Hill, Finance Director UK & Ireland said, "We saw Glantus as an ideal fit, with their track record of identifying working capital and their ability to use that capital to automate AP processes in one single project, with a strong alignment to our technology driven transformation programme."
James Welch, Glantus Managing Director, EMEA said, "Bunzl are a leading innovative distribution organisation and have great foresight in leveraging technology to give their teams an edge in dealing with their global supplier reach. We are delighted to have the opportunity to work with Bunzl in progressing their automation vision and streamlining their AP initiatives."
For further Information visit www.glantus.com ,follow on twitter @GlantusLTD or contact:
Glantus Holdings plc Maurice Healy, Founder and Chief Executive Officer Grainne McKeown, Chief Finance Officer
| via Flagstaff
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Shore Capital Nominated Adviser and Broker) Patrick Castle / John More / Tom Knibbs (Corporate Advisory)Andrew Beswick (Corporate Broking)
| +44 20 7408 4090
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Flagstaff Strategic and Investor Communications Tim Thompson/Mark Edwards/Fergus Mellon glantus@flagstaffcomms.com | +44 7710 718 649
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About Glantus Holdings plc
Glantus Holdings (AIM: GLAN) Glantus is a global provider of accounts payable automation and analytics solutions. Glantus' mission is to harness technology to drive innovation, unlocking efficiencies in AP to maximise working capital for global enterprise organisations. The award-winning Glantus DataShark Platform connects all AP systems and suppliers on one agile platform, eliminating cost and delivering new revenue streams. We work in tandem with our partners to deliver joint enterprise digital transformation solutions. For more information see glantus.com.
Founded in 2014 and headquartered in Dublin, Glantus has offices in the United States, United Kingdom, and Poland, employing over 120 people.