For Statement Audits
Automated, Real-time Recovery
Lavante Recovery+ goes well beyond traditional statement audit services, delivering a comprehensive, automated, and continuous recovery solution that speeds more than dollars to your bottom line. With its patented technology and private supplier network, Lavante Recovery+ transforms the recovery process, maximizing both time and credit dollars recovered, while simultaneously enabling AP to take complete control of the recovery process.
Lavante’s process continually monitors all of your suppliers for credit activity and recovery. This contrasts sharply to traditional audit firms that only solicit statements from a limited vendor population during periodic audit engagement — often performed only on an annual (or longer) basis. The credits that occur during the interim period are often lost as they are cleared from the supplier’s statements.
Statement Audits with Lavante
No matter how tight internal processes are, errors occur and credit dollars disappear. And with the extreme volumes of complex supplier relationships to manage, AP cannot rely on manual efforts to successfully manage this process. Lavante answers this need with a technology-enabled solution that partners with AP to assure that no credit is lost, and AP has total control over and visibility across the entire process. Lavante Recovery+ maximizes supplier statement audit recoveries while improving supplier insights across 95% of spend.
Lavante Recovery+ Delivers More
Lavante Recovery+ is unique in providing clients with a best practice, ongoing statement audit solution, focused on finding gaps in processes and enabling the ongoing governance and management of suppliers. Built on advanced SaaS technology, Lavante Recovery+ provides over and above the capabilities provided by traditional statement recovery services, without the need for onsite auditors.
Here are just a few of benefits Lavante Recovery+ delivers:
- Dedicated ‘Self-Service’ Interactive Web Portal: Clients have 24x7 access to their dedicated Lavante portal – a single common platform where all work is performed by both Lavante auditors and clients. With an intuitive, easy-to-use interface, users can immediately begin processing credits, gaining complete control over the process.
- Real-time, Interactive Reporting and Monitoring: Lavante clients enjoy industry leading reporting and monitoring of the statement audit process, in real-time. Clients can interactively view reports (claims by type, status, ranking, amounts, etc.) and configure results by different time periods and across business units, with click-through drill-down to view details of all items. Users can easily export selected graphs or the raw data for use in management reports.
- Automated, Comprehensive Supplier Outreach: Lavante technology enables us to cast a wide net when connecting with suppliers. Automated outreach goes across the breadth of a client’s supplier base; all compliance and non-compliance are tracked, monitored and displayed, eliminating a significant document management burden for AP.
- Private Supplier Network with Ongoing Cleansing: Each recovery program leverages the over 2 million suppliers in Lavante‘s private, secure network. Clients take advantage of this continuously updated supplier data by uploading cleansed supplier files into their corporate ERP systems.
In short, Lavante Recovery+ for Statement Audits functions as a partner for AP, continuously working off-site, using a single on-line portal to assure every dollar is recovered, transactional processes are at peak performance, and management understands the value the recovery program delivers to the organization.
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