Financial automation and data intelligence solutions firm Glantus has acquired the audit credit recovery firm JPD Financial, creating a business with an approximate $12 million turnover, Glantus announced on Monday (Feb. 24).
The acquisition brings expanded automation and artificial intelligence (AI) to credit recovery and financial processing offered to global businesses and shared services units.
“This acquisition significantly deepens our ability to serve global organizations at scale,” said Maurice Healy, founder of Glantus, which is based in Dublin, Ireland and also has a presence in London. “It propels Glantus forward in our ambition to drive the future of financial processing with real-time data intelligence.”
Glantus offers advanced automation solutions to accounts payable functions and has blue-chip clients that include Europcar, Applegreen, Hertz, Hydrogen, Deloitte, Barclays and Paddy Power Betfair.
Silicon Valley-based JPD Financial partners with Fortune 1000 companies and has been a leader in vendor credit recovery services for 30 years. The service “returns millions of dollars to the bottom line of JPD Financial customers each year,” according to the acquisition announcement. The firm also offers accounts payable auditing and master data cleansing.
“JPD customers are increasingly looking at automation and AI to drive further efficiencies in their financial processes,” said John Doyle, president and CEO of JPD Financial. “With Glantus, JPD now has the advanced technology platform and the team behind it to deliver these new services.”
The Glantus data platform, integrated with the expertise in service delivery from JPD Financial, will “deliver significant benefits to existing customers and accelerate the delivery of innovative new financial processing solutions,” Glantus said.
Innovations in accounts payable (AP) and accounts receivable (AR) have introduced new technologies to sit between buyers’ and suppliers’ systems for deeper integrations between business partners and their operations. Tools like virtual cards (v-cards) and vendor payment optimization solutions, can address friction on both ends of a B2B transaction.