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We are pleased to announce Glantus has been chosen by Dole Ireland ("Dole") to provide an automated statement reconciliation solution. This solution provides a total platform to automate processing from statement capture, automated reconciliation processing, and detailed reporting on each transaction.
Dole plc is the global leader in fresh produce. Headquartered in Dublin, Ireland and employing 38,500 people across its global operations, Dole plc grows, markets, and distributes an extensive variety of fresh fruits and vegetables sourced locally and from around the world. Dedicated and passionate in exceeding their customers’ requirements in over 75 countries, Dole plc’s goal is to make the world a healthier and a more sustainable place.
Dole 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.
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.
Dole previously manually reconciled supplier statements to their creditor's ledger. This meant 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’s FTE’s 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.
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.
Denise Carpenter, Financial Controller, Dole Ireland
Using the automated accounts reconciliation process, Glantus has the ability to provide Dole with an in-depth investigation and analysis of all AP transactions. This will give Dole 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’s decision to work with Glantus on this initiative.
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.
James Welch, Glantus Managing Director, EMEA