Lavante is the leading provider of on-demand supplier management solutions for connecting companies and suppliers. Lavante delivers Supplier Information Management and Recovery Audit solutions that help companies drive dollars to the bottom line, ensure quality of supplier data and improve supplier relationships. Lavante SIM includes on-demand Tax Identification Number (TIN) collection and management that allows companies to drive corporate compliance with tax legislation and changes.
Lavante was founded in 2001 by industry visionary Joe Flynn and has fundamentally changed the $1.8B AP recovery auditing industry. AP recovery auditing began 40 years ago as a service focused on the historical accounting records of a company’s AP department. Lavante approaches recovery auditing from the supplier side with a revolutionary on-demand solution. Lavante performs statement audits – reviews of the AR accounting records of a company’s suppliers for un-offset credits. The challenge with successfully executing a large-scale supplier AR review is managing communication with mass volumes of suppliers. Lavante automates the end-to-end statement auditing process with on-demand software to manage supplier data, orchestrate outreach, collect and manage incoming information from suppliers and identify credits. On average, Lavante recovers $600-$900K of credits per $1B in spend – 5-10x the result of traditional approaches. Because the process is automated, customers see almost immediate results – the average time to cash for Lavante customers is only 19 days.
Building on its experience with supplier communication and management, Lavante expanded the product footprint to include Supplier Information Management (SIM). SIM enables companies to establish ongoing connections with suppliers, ensure quality of supplier data, and gain real-time visibility into suppliers and relationships. With a single platform for both recovery auditing and supplier information management, Lavante offers the market a unique, self-funding combination for supplier AR reconciliation and quality supplier data. While driving customer success and supplier adoption of its solutions, Lavante continues to build out the Lavante Supplier Network of over 2.1 million suppliers.
The Lavante Difference
For 10 years, Lavante has pioneered processes and technology for companies and suppliers delivering the following benefits to enterprises across industries:
- Quick Time to Value: Lavante delivers its solutions on-demand, ensuring rapid customer deployments, low impact on customer resources, and immediate results
- Highest Supplier Compliance: With best-practice compliance processes and services, Lavante delivers the highest supplier compliance in the industry, averaging 8X results of traditional, alternative solutions
- Quality Supplier Data: Lavante drives proactive and continuous communication with suppliers, enabling suppliers to manage their own information and ensuring that supplier information is always validated and accurate
- Lavante Supplier Network: Lavante continues to build and leverage its supplier network of over 2.1 million companies to drive supplier compliance; suppliers benefit from a single, self-service portal to manage their information across all Lavante customers
- Increased Cash Flow with Self-Funding Capabilities: Lavante delivers 5-10X the results of traditional vendor statement audit approaches, with average time to cash of 19 days; Lavante customers can fund projects with the credits they find from Lavante Recovery
Lavante solutions are deployed across Fortune 1000 enterprises including the hospitality, retail, entertainment, manufacturing and medical industries. Headquartered in San Jose, California, Lavante is privately held.
- Lavante SIM™: On-Demand Supplier Information Management
- Lavante Recovery™: On-Demand Recovery Auditing
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