Glantus and VAT IT UK Ltd Announce Partnership

RNS Number : 1199O

Glantus Holdings PLC

06 October 2021

 

 

Glantus Holdings plc

("Glantus" or the "Company")

Glantus and VAT IT UK Ltd Announce Partnership

Glantus and VAT IT UK Ltd form a strategic partnership assisting enterprise customers to maximize their vat, working capital savings, and compliance.

Glantus and VAT IT UK Ltd(' VAT IT' ) , today announce that they have signed a partnership agreement to offer tax and working capital reclaim services.

VAT IT customers will now have access to the Glantus Data Platform and expertise to realize additional savings through targeted accounts payable analysis, credit recovery, and automation of the accounts payable process. Glantus customers will also benefit from having access to the leading global VAT reclaim company, to bring innovative digitalization and analytics-driven problem-solving to the VAT recovery process.

Joint customers benefit by combining savings on utility expenditure with reduced vendor transaction costs, accelerated recovery of working capital, and increased visibility of accounts payable data.

Customers who use the integrated Glantus and VAT IT platforms will achieve a greater return to their bottom line through machine learning and Artificial Intelligence. This will be done by eliminating manual processes and ensuring invoice compliance in an ever-changing VAT landscape. By working together, companies can now use the combined data to identify anomalies faster and deliver targeted automation to ensure continued savings.

To remain competitive, Financial Controllers must aim to make the finance function a profit center by seeking data-driven actions to save money and offer innovative solutions that transform their operations.

Working together, Glantus and VAT IT combine both proprietary platform technologies and experience, to reach out to more companies globally, helping them save more money through analysis of all tax and accounts payable transactions, as well as creating significant operational efficiencies.

Andrew Frazer, Executive VP, Head of Global Strategic Alliances and Partnerships at Glantus, said: "The vision for Glantus is to offer our enterprise customers key analysis, timely insights and automation across their finance function to drive growth. By partnering with VAT IT, we now connect to a platform that maintains its status as the largest, most reliable VAT recovery partnership in the world".  

Selwyn Stein, Group Managing Director of VAT IT Reclaim , said: "The ability to bring together two complimentary solutions, neatly packaged and available to customers is incredibly exciting. Customers will have access to real-time insights and leverage our expert teams to help them save time, save money, remove paperwork and drive automation across their finance functions." 

For further Information, contact:

Glantus Holdings plc                                                           + 353 1 8895300

Maurice Healy, CEO

Grainne McKeown,CFO

[e-mail]  

Arden Partners plc                                                                [phone]

Nominated Advisor and Broker

Ruari McGirr / Richard Johnson (Corporate)

Simon Johnson (Broking) 

Flagstaff Strategic and Investor Communications

Tim Thompson                                                                                +   44 7710 718 649

Mark Edwards

Fergus Mellon

[e-mail]

About VAT IT

VAT IT has been involved in the cross-border VAT reclaim industry for over 20 years. Through organic and acquisitive growth, we have evolved into the leading provider of VAT recovery services internationally. VAT IT offers a full, end-to-end Foreign & Domestic VAT reclaim solution to over 13,000 clients in over 117 different countries which include 50% of the fortune 500 companies. Our tailor-made service and industry-leading technology are designed to maximize your Foreign & Domestic VAT savings and compliance. We envision ourselves as an extension of your finance team, freeing your employees to focus on critical areas of the business function. For more information see   vatit.com

About Glantus

Glantus is a global provider of accounts payable automation and analytics solutions. Our mission is to simplify data to drive constant innovation. The award-winning Glantus Data 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 .

 

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