REG - Glantus Holdings PLC - Customer Win

Glantus HoldingsAnnouncement

28/07/2022 07:00

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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 (http://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)  +44 20 7647 8147

 Patrick Castle / John More / Tom Knibbs (Corporate Advisory)

Andrew Beswick (Corporate Broking)

 Flagstaff Communications Financial PR & IR                          +44 7710 718 649

 Tim Thompson

 

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 (https://www.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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