Fintech PR
Basware Completes Acquisition of Glantus to Expand AI-driven Overpayment and Fraud Detection Capabilities
The acquisition brings together two forces in financial technology to revolutionize the future of invoice automation
LONDON, Oct. 18, 2023 /PRNewswire/ — Basware, the leader in making AP automation and invoice processing happen, today announced the successful completion of its acquisition of Glantus. The acquisition brings together two forces in AI-driven accounts payable (AP) automation and financial technology.
Earlier in August, Basware made an offer to purchase the entire share capital of Glantus Holdings plc, which was sanctioned by the High Court of Ireland on October 10, 2023 and completed and became effective on October 18, 2023. Following the successful acquisition, Glantus has now been delisted from the London Stock Exchange. The Glantus board and shareholders welcomed the acquisition.
Basware is renowned for its market leading e-invoicing and AP automation platform for almost 40-years, helping customers automate their invoice processing – from receipt through to approval and payment. Glantus is an AP specialist in audit recovery and fraud prevention for the North America and European markets. It uses AI technology to help businesses recoup lost funds made from duplicate payments, missed discounts, cancelled invoices, incorrect pricing calculations, refunds and VAT reclaims.
The AP Automation market is fast growing. It is projected to increase by 10.8% every year for the next five years and will be worth $5.8bn globally by 2029. North America will account for $2.1bn and Europe for $1.7bn, collectively representing more than two-thirds of the global market.
At the same time, invoice fraud and overpayment errors remain an ongoing concern. Reports show that more than 70% of businesses are subjected to invoice or payment fraud each year. 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.
Basware and Glantus will come together to create a joint offering, delivering customers with complete coverage and a data-driven view of their invoicing and financial operations. Basware will benefit from Glantus’ expertise in audit recovery and fraud prevention software, providing demonstrable customer 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.
Jason Kurtz, CEO of Basware, commented on the acquisition:
“This acquisition marks a significant milestone for Basware and Glantus. Glantus has a very strong track record of delivering ROI and we share a mutual mission to drive value for the CFO’s team. This deal will only accelerate our ability to deliver demonstrable savings and innovation to our customers through a joint value proposition. This move signifies further investment activity to come for Basware, solidifying our position as the leader in the AP automation industry.”
Maurice Healy, Founder and CEO of Glantus, welcomed the acquisition:
“This change brings a new chapter for both companies, one marked by innovation, collaboration, and a relentless commitment to driving customer value. Basware’s growth strategy in terms of their size, focus, and market potential makes us a seamless match. We look forward to combining our expertise and products under one value proposition.”
Forward-Looking Statements
This press release contains certain forward-looking statements with respect to Basware’s acquisition of Glantus (the “acquisition”) and the combined group’s estimated or anticipated future business, performance and results of operation and financial condition, including estimates, forecasts, targets and plans for the combined group. The words “believe,” “expect,” “anticipate,” “project”, “intend” and similar expressions, among others, generally identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Any forward-looking statements in this communication are based upon information available to Basware, Glantus and/or their respective boards of directors, as the case may be, as of the date of this communication and, while believed to be true when made, may ultimately prove to be incorrect. No obligation is undertaken to update these forward-looking statements.
Media Contact
Basware
Abs Hassanali
Global Head of PR & Communications
[email protected]
+44 (0)7400227701
About Basware
Basware is how finance leaders in global enterprises can finally automate their complex, labor-intensive invoice processes and stay compliant with regulatory change. Our AP automation and invoicing platform helps you achieve a new level of efficiency – in a matter of months – while reducing errors and risks. We bring a unique combination of true automation, complete coverage, and deeper expertise to make it all just happen for our customers. That’s why the world’s most efficient AP departments at thousands of companies rely on Basware to handle over 170 million invoices per year. Basware. Now it all just happens.™
About Glantus
Glantus is a global provider of accounts payable automation and analytics solutions. The Glantus mission is to simplify data to drive constant innovation. The award-winning Glantus Datashark Platform is rapidly deployed around existing transactional systems to provide a single platform for Accounts Payable transformation. The automation solutions recover lost working capital, improve efficiency, and prevent errors. The advanced analytics empower customers to make decisions based on real-time data. We connect all AP systems and suppliers, eliminating cost and delivering new revenue streams. Glantus champions the amazing potential of the AP industry by freeing up its leaders, its best thinkers, and its doers to realise new value. We work in tandem with our partners, to deliver joint enterprise digital transformation solutions. For more information see glantus.com.
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EDEN ISLAND, Seychelles, Jan. 16, 2025 /PRNewswire/ — Seekapa, a standout name in global trading companies, has unveiled a major enhancement to its offerings, now providing access to over 600 tradable assets. This expansion spans a wide array of asset classes, including stocks, cryptocurrencies, forex pairs, commodities, and indices, reinforcing its reputation as a one-stop destination for those seeking diversity and innovation.
Nick Zander, Seekapa spokesperson, highlighted the significance of this development: “Our mission is to empower members by offering them access to a diverse range of high-quality assets,” he said. “This latest expansion opens doors to greater opportunities, enabling users to diversify their portfolios and capitalize on new market trends effectively.”
A Good Way to Diversify Trading
The addition of these new assets is a direct reflection of Seekapa’s dedication to staying at the forefront of industry trends. Traders now have the opportunity to explore and invest in emerging sectors alongside traditional financial instruments. This expansion fosters greater diversification, allowing customers to capitalize on a variety of market conditions. The intuitive, user-friendly platform combined with powerful analytics tools offers a seamless experience for traders at all levels, ensuring they can make informed, strategic decisions regardless of market volatility.
Zander noted, “In an ever-changing financial landscape, staying ahead of the curve is essential. By expanding our offerings, we’re not just meeting the needs of our current users, we’re empowering them to stay competitive, well-informed, and adaptable to shifts in the market.”
Seekapa’s enhanced portfolio is part of a broader strategy to solidify its position as the go-to platform for global clients. The platform’s commitment to security, education, and user experience drives its ongoing efforts to redefine how traders engage with the market. As a result, the brand continues to set new industry benchmarks, providing unparalleled access and innovative solutions for users across the globe.
About Seekapa
Since its inception, Seekapa has emerged as a trailblazer in the trading industry, continuously pushing boundaries in the foreign exchange market. With a steadfast commitment to innovation, the firm has consistently developed and enhanced its products, services, and trading software to meet the evolving needs of traders worldwide.
By setting new benchmarks and redefining the trading experience, the broker remains dedicated to empowering its users with cutting-edge solutions and unmatched opportunities. As a leader in the industry, Seekapa continues to shape the future of trading through excellence and innovation.
Website: https://seekapa.com
View original content:https://www.prnewswire.co.uk/news-releases/seekapa-expands-portfolio-to-over-600-tradable-assets-302353354.html
MIAMI, Jan. 16, 2025 /PRNewswire/ — The financial services sector is witnessing a surge in demand for virtual bookkeeping expertise as businesses grapple with a persistent talent shortage in accounting. This trend is driven by businesses seeking solutions to a persistent talent gap in the accounting sector, as many organizations face challenges in finding qualified professionals to meet their financial needs.
The need for skilled virtual bookkeepers is surging globally, driven by increasingly complex financial landscapes and technological advancements. Businesses are increasingly seeking advanced expertise, with New York leading the way in adopting innovative solutions to meet the growing demand for skilled financial professionals.
Virtual bookkeeping in New York is stepping in to fill this talent gap by leveraging advanced technology and providing access to skilled financial professionals. As businesses face ongoing challenges in recruiting qualified accountants, these services offer a reliable and efficient solution to maintain financial accuracy and support sustained growth.
Book your 30-minute free consultation today and discover how virtual bookkeeper can simplify your business finances-https://www.ibntech.com/free-consultation/?pr=prnewswire
Industry Challenges
The growing reliance on virtual bookkeepers highlights the increasing demand for skilled professionals in major markets like New York. Businesses are navigating challenges such as financial inaccuracies, compliance risks, and delays in critical operations like payroll and tax filings. In 2025, the focus has shifted toward continuous professional development for bookkeepers, enabling them to adapt to evolving industry requirements and deliver efficient financial solutions.
Technology as a Solution
Cloud-based platforms, automation, and data analytics are becoming essential tools as businesses adopt innovative technology to address these challenges. These technological advancements are reshaping how virtual bookkeepers operate, with key metrics like accuracy and responsiveness now guiding service evaluations.
A Strategic Asset for Business Growth
Bookkeeping has transformed into a key strategic function, with professionals now tasked with providing actionable insights into cash flow management, financial forecasting, and long-term business growth strategies.
“Virtual bookkeeping has shifted from a support function to a critical strategic asset,” noted Mehta. “Today’s bookkeepers drive financial agility and resilience, enabling businesses to thrive in a rapidly changing environment.”
Demand for Virtual Bookkeepers Soars in New York
New York is seeing a growing demand for virtual bookkeepers as businesses increasingly turn to technology-driven solutions for efficient financial management. This growing scarcity has raised concerns about financial accuracy, compliance risks, and delays in crucial tasks like payroll and tax filings. To address these challenges, businesses are increasingly turning to advanced outsourcing solutions.
Companies like IBN Technologies are helping businesses navigate these complexities by providing highly skilled accounting and bookkeeping services that ensure financial accuracy, regulatory compliance, and timely reporting.
“To stay competitive in 2025, virtual bookkeepers in New York and elsewhere will need to continuously upskill and adapt to the latest technological developments,” said Ajay Mehta, CEO IBN Technologies. ” This is crucial for responding to the evolving demands of the industry and improving client value.”
Setting the Stage for Success in 2025
The growing need for specialized virtual bookkeeping services is reshaping how businesses manage their finances. Companies are looking to virtual bookkeepers not just to manage their day-to-day operations, but to provide crucial insights and drive long-term strategic growth. With technology playing an increasingly important role in bookkeeping services, the industry is poised for continued innovation and transformation in the coming years.
As businesses seek to navigate complex financial landscapes and ensure compliance with ever-evolving regulations, the expertise of skilled virtual bookkeepers will be crucial in helping them achieve financial agility and operational success.
About IBN Technologies
IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
Contact Details:
Pradip
[email protected]
+1 – 844 – 644 – 8440
USA:
IBN Technologies LLC
66 West Flagler Street Suite 900 Miami, FL 33130
India: Global Delivery Centre
IBN Technologies Limited
Kohinoor House, 2nd floor,
691/A/1B, Plot no. 7,
Bibwewadi Road, Pune-411037
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ATLANTA, Jan. 16, 2025 /PRNewswire/ — ThoughtFocus, Inc. (“ThoughtFocus” or the “Company”), a leading provider of digital services and technology-enabled operations specializing in the financial services industry, is pleased to announce the appointment of Sanjib Banerjee as Head of the Global Payments Practice.
Sanjib will lead ThoughtFocus’ global payments strategy and growth, leveraging his deep industry expertise to align emerging market trends with client priorities. He will focus on delivering innovative, future-ready solutions that drive client success and reinforce ThoughtFocus’ leadership in the global payments’ ecosystem.
“Sanjib’s appointment underscores our commitment to client-centric innovation and strategic excellence,” said Santhosh Ananthakrishnan, Chief Business Officer, ThoughtFocus. “With his proven ability to translate macro trends into actionable strategies, Sanjib will help accelerate our growth, strengthen client relationships, and deliver transformative value across our global portfolio.”
Sanjib joins ThoughtFocus with more than two decades of experience driving growth and large-scale digital transformation in the payments and fintech industries. His leadership journey includes prominent roles at Cognizant, Deloitte, PwC, and U.S. Bank, where he consistently delivered strategic impact and fostered innovation across the financial ecosystem.
With extensive experience in building scalable frameworks, forging strategic partnerships, and anticipating industry trends, Sanjib will play a pivotal role in driving ThoughtFocus’ growth in the dynamic payments landscape.
ThoughtFocus is making substantial investments to better serve clients in the Payments Industry. By leveraging its intellectual property and harnessing the power of AI, the firm is driving innovation in this field.
About ThoughtFocus
ThoughtFocus helps forward-looking companies and organizations in the financial services, manufacturing, and higher education/public services sectors innovate and achieve a better future faster. ThoughtFocus’ innovative and cutting-edge technology solutions enable its customers to deploy new capabilities faster, deliver better user experiences, and drive operating efficiencies. With headquarters in the U.S., the company has more than 3000 employees in locations spread across five countries. For more information, please visit the company website www.thoughtfocus.com.
Contact:
ThoughtFocus, Inc.
14110 Dallas Pkwy,
Suite 250
Dallas, TX 75254,
United States
www.thoughtfocus.com
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View original content:https://www.prnewswire.co.uk/news-releases/thoughtfocus-appoints-sanjib-banerjee-as-head-of-global-payments-302352612.html
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