We are thrilled to announce that Basware has successfully acquired Glantus Holdings PLC, a pioneer in specialist audit recovery and fraud prevention software. This acquisition aligns seamlessly with our ongoing mission to deliver exceptional value to you, our customers.
Combining Strengths for Greater Value
With this acquisition, two global leaders in invoice processing have joined forces to offer complete coverage throughout the invoice processing and capital management lifecycle. The integration of Glantus’ cutting-edge solutions into Basware’s platform will deepen our expertise and expand our offerings, particularly in fraud prevention and cash protection.
Why is this important?
Reports show that over 70% of businesses are subjected to invoice or payment fraud yearly. Among these, AP teams continue to be the most targeted of all departments, with 58% being compromised annually through vendor impersonator scams alone. For systems used to combat fraud, automated AP processes rank first, with 72% of finance leaders stating that it would make their companies better protected. Basware's acquisition of Glantus positions it at the forefront of this rapidly expanding landscape.
What does this mean for Basware Customers?
Basware and Glantus will create a joint offering, delivering customers complete coverage and a data-driven view of their invoicing and financial operations. Basware customers will benefit from Glantus' expertise in audit recovery and fraud prevention software, providing demonstrable value for finance and accounting teams. This will add cost-saving opportunities and an extra layer of security through fraud detection, overpayment error reduction, and reconciliation reporting.
What’s Next?
As we proceed with the integration, we are excited to make these enhanced solutions available in the new year. Over the coming weeks and months, you will hear more about the innovative services and solutions that Glantus brings.
To learn more about what this deal means for you, join us at Basware Bespoke on November 9th.
Have Questions?
In the meantime, if you have any questions, please don’t hesitate to contact your Customer Success Manager (CSM). Your continued engagement and feedback are instrumental in shaping our solutions and services.
Final Remarks
The completion of this acquisition opens up new avenues for creating customer value. We are committed to keeping you informed and empowered, and we look forward to your active participation as we step into this exciting new phase.
For those interested in more details, the official announcement is available on both the Basware and Glantus websites.
Reserve your spot for Basware Bespoke today, and stay tuned for more updates.
