Glantus Holdings PLC Customer Win (9560T)
July 28 2022 - 2:00AM
UK Regulatory
TIDMGLAN
RNS Number : 9560T
Glantus Holdings PLC
28 July 2022
28 July 2022
Glantus Holdings plc
("Glantus" or the "Company")
CUSTOMER WIN
Dole Ireland selects Glantus to Automate 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 that
it has been chosen by Dole Ireland Limited ("Dole Ireland") a
subsidiary of Dole plc to provide an automated statement
reconciliation solution.
Dole plc is an American - Irish agricultural multinational
corporation headquartered in Ireland and listed on the New York
Stock Exchange. Dole plc is the largest producer of fruit and
vegetables in the world, operating with 74,300 full-time and
seasonal employees who are responsible for over 300 products in 90
countries.
Dole Ireland has appointed Glantus to automate the processing of
their statement reconciliation, reduce mistakes, consolidate data,
and give real time reconciliation reports. The task of reconciling
the creditor's ledger against supplier statements is an essential
financial control function for Dole Ireland.
Dole Ireland previously manually reconciled supplier statements
to their creditor's ledger, a time consuming and costly process
that tied up key personnel. Invoice transactions recorded in both
the creditor's ledger and an incumbent invoice automation system
were manually checked against all supplier statements. Once each
invoice was correctly reconciled to the statement and confirmed, it
was then processed for payment approval. This process was slow and
labour intensive, which meant several of Dole Ireland's full-time
employees spent over 200 hours per month manually reconciling.
Automating the statement reconciliation function was estimated to
remove up to 90% of manual effort and liberate key staff for
value-added tasks.
Using the automated accounts reconciliation process, Glantus can
provide Dole Ireland with an in-depth investigation and analysis of
all AP transactions, giving Dole Ireland greater visibility and
control. Glantus' experience within the automation space, strong
relationships with stakeholders across various levels, and the
superiority of the overall approach were the key factors in Dole
Ireland's decision to work with Glantus on this initiative.
Denise Carpenter, Financial Controller, Dole Ireland said , 'We
are surprised at the speed at which we are reaping the benefits of
the system, after only a short period from Go live. Layered on top
of our existing AP solution and ERP creditors ledger, Glantus
provides the all-inclusive solution that facilitates easy capture,
reconciliation, visibility, and communication back to the vendor,
ensuring accurate results. We are now in a position where our AP
data matches all our vendors data, minimising duplicates, and
issues down the line. The new streamlined process has made a
significant impact on our business, which is vital during the
current climate and as we look to further grow as an
organisation.'
James Welch, Glantus Managing Director, EMEA said , 'Glantus are
honoured to have the opportunity to work with Dole Ireland. Their
exciting brand is world-renowned, and we are grateful to be able to
help them to fulfil their vision of an end-to-end automated AP
function. We look forward to great success with Dole Ireland and
giving them the perfect platform to bring increased efficiencies
across their finance function globally.'
For further Information visit www.glantus.com , follow on twitter @GlantusLTD or contact:
Glantus Holdings plc via Flagstaff
Maurice Healy, Founder and Chief Executive
Officer
Grainne McKeown, Chief Finance Officer
Shore Capital and Corporate Limited (Nominated
Adviser and Broker)
Patrick Castle / John More / Tom Knibbs (Corporate
Advisory)
Andrew Beswick (Corporate Broking) +44 20 7647 8147
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Flagstaff Communications Financial PR & IR
Tim Thompson +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.
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END
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