GBS_Annual_Report2018_V12.1_SCREEN

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Glanbia Business Services 2018 Update Financial Shared Services Overview New GBS office, Aurora, USA On April 11 th , the GBS Executive and wider GBS team hosted Siobhán Talbot and Mark Garvey at the official opening of their new offices in Aurora, IL. Our Shared Services Centres located in Dungarvan, Ireland and Aurora, US support the Glanbia organisation with a wide range of financial services. Using the latest technologies and following world class processes, our Shared Services teams deliver efficiencies and value in Accounting & Financial Services, Accounts Payable & Receivable, Indirect Tax and Payroll. Our expertise and innovation in the above areas enable our Business Unit partners to focus on their primary goals and drive business growth. In addition to it being a celebratory event, it reiterated the commitment of GBS to Glanbia’s continued growth in North America. It also highlights the significant value of GBS as an enabler and contributor to the overall expansion and success of the group. The new GBS facility comes complete with standup desks, collaboration rooms, state of the art video conferencing solutions and an updated canteen. The open floor plan fosters a collaborative environment and overlooks a large pond and walking path. In the spirit of Winning Together and Performance Matters, there are additional open offices and desks available for visitors and future growth within GBS. Please stop by if you are in the area. The new office is located at 4255 Meridian Parkway, Suite 151, Aurora, IL 60504. By Geoff Roche Shared Services Director North America 22
Glanbia Business Services 2018 Update Financial Services Indirect Tax Accounts Payable The Financial Services team conduct a huge amount of transactional and analytical activities—general ledger account reconciliations, bank reconciliations, Capex management, fixed asset accounting, cash flow forecasting, and monthly reporting are just some examples of these activities. The team is expanding quickly in all regions to support Glanbia’s continued growth—enabling our business partners to focus on these growth activities. Accounts Receivable The Accounts Receivable team supports the business units in the order to cash process while mitigating risk. The team manages customer master data, credit reviews, customer status, credit insurance, cash collections, ledger reviews, reporting, and analysis in partnership with our business units. The team leverages technology to enhance AR Credit and Collection processes and build business relationships with partners. We commenced our digital journey with the introduction of Hanse Orga, the SAP application to automate the process of allocating cash from our customers. The Tax teams are responsible for Valued Added Tax (VAT) worldwide and Sales/Use tax in the U.S. as well as customs taxes, real and personal property taxes. The teams support our business to ensure taxes including VAT returns, sales & use tax, customs, and property are correctly calculated and filed with the tax authorities. The team is also responsible for monitoring all tax law changes and proactively making any changes necessary for the Glanbia entities to remain in compliance. The Tax teams continue to provide expert services, proactively facilitating Glanbia’s expansion into new markets and ensuring accurate tax liabilities. Payroll The Payroll Services process and pay our employees across UK & Ireland and many of our expanding international markets ensuring our employees get paid accurately and on time. The Payroll Services will continue to expand, enabling our North American and International markets to grow, and ensuring a compliant and accurate payroll service is delivered. The Accounts Payable and Business Support teams drive efficiency and add value in transactional processing of vendor invoices, managing master data, reconciling vendor statements, promptly paying our suppliers, and providing overall support to our most important customers; Glanbia business units and the vendor community. We too are digitising our processes with the adoption of Ariba and the automation of Vendor Reconciliations. 23
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