LAVANTE Recovery Resources

Transactional errors result in millions of dollars worth of credits at suppliers for F1000 companies. An ongoing, comprehensive review of your suppliers’ AR records, known as a statement audit, recovers these dollars for your company on a regular basis. If you’re not performing a statement audit, chances are that you are missing credits, and literally leaving money with your suppliers.

 
Lavante Recovery enables organizations to maximize vendor statement audit recoveries and supplier insights across 95% of spend. Whether you want a solution to work alongside your current, traditional recovery audit service, or are looking for a single solution, Lavante can help. Our on-demand recovery application and services automate this process, from communicating with suppliers, to discovering credits and delivering recoveries to our customers. All in days – not months.

 
Find out more with these resources. We continuously update these offerings, so check back often or subscribe to our Blog or eNewsletter.

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The Case of the Disappearing Credits

Why a Fast Start to Credit Recoveries is a Best Practice

While the term ‘time is of the essence’ usually refers to legal matters, it unfortunately applies equally as well to the recovery of vendor credits. For, as the research in this paper demonstrates, waiting to claim credits from your vendors is a costly course of action. Over time, they simply evaporate.  The research presented is based on data collected through access to the Lavante Recovery platform, which backs this simple thesis: Time really does matter when it comes to vendor credit recoveries. Waiting a year or two to recover them is expensive. That expense comes not from the time value of money but rather from the vendor finding uses for open credits other than returning them to their customers.

Download White Paper >>

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Automating the Recovery Process - Webinar

How Technology is a Best Practice in Recovery Audit

Henry Ijams of PayStream Advisors adds his expertise in how the use of recovery technology is a best practice in the recovery audit field. The presentations will outline and demonstrate the multiple benefits companies gain by deploying an automated technology solution that delivers results beyond dollars to the bottom line— benefits including vendor master file cleansing and the ability to gain complete control over the recovery process.

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Healthcare Provider Recovers $300K in Lost Credits

Earlier this year, Lavante Recovery+ recovered an over $300,000 credit for our client, a leading healthcare provider. The story of how this credit was identified and recovered is a testament to the effectiveness of an ongoing, continuous audit that leverages technology to update supplier contact details through an extensive supplier network all while providing real time visibility into the relevant supplier communications and audit details.

Read the Entire Blog Post >>

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Accurate Supplier Data in Pharmaceutical Procurement

By Thomas Kase, Lead Analyst, Spend Matters

This study looks at a Fortune 100 pharmaceutical company – a global healthcare firm delivering health solutions, prescription medicines, and vaccines with over 90,000 employees worldwide and over $45B in revenue.

Download Case Study >>

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The Case of the Disappearing Credits - Webinar

Why a Fast Start to Credit Recoveries is a Best Practice

Mary Schaeffer, Publisher and Editorial Director of AP Now & Tomorrow, and Tom Flynn, VP Lavante, present new research that clearly demonstrates why it is critical to start audit recovery efforts sooner rather than later. Mary presents case studies in this hour-long webinar that clearly shows how dollars disappear if recovery efforts are not implemented, and that starting the audit as soon as possible will save organizations considerable money.

View Webinar >>

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Strategic Profit Recovery

LAVANTE RECOVERY™

Lavante’s unique, on-demand recovery solution leverages the power of our supplier network and the communication power of Lavante Connect™ to identify new opportunities and to maximize recoveries across all ranks of our clients’ supplier populations. Built with patented technology, this powerful recovery application can serve as a standalone service or as a complement to the traditional recovery model by applying in-depth supplier insights to historical AP records.

Read the Entire Article >>

Download PDF >>

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Strategic Reporting

LAVANTE RECOVERY™

Lavante’s powerful, on-demand recovery solution delivers a full range of reports through an easy-to-use web portal. With fingertip access to a wide variety of reports, users have a real-time view of all recovery results, including total claims recovered by type, vendor compliance rates, duplicate vendor identification, and more. All documentation associated with recovery claims are also immediately accessible.

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Global Cruise Line

On Deck with Lavante for Ongoing Credits

On the recommendations of the cruise line’s parent company, which used Lavante services, they selected the Lavante Recovery solution. Based on the manager’s previous experiences with the traditional audit services she was skeptical, explaining “I’ve been through the heartbreak with other audit firms and needed to see it to believe it.”

After starting with a small scope to prove that Lavante would deliver on its commitments, the audit scope was very quickly expanded. “I didn’t really think they could do what they can do, but I quickly found out that they are just really good at what they do – highly professional and noninvasive. So, we turned the audit over to the people who know what they are doing.”

Read the Entire Article >>

Download PDF >>

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Lavante Recovery — A Risk-Free Way to Segue Into SIM

By The doctor, Sourcing Innovation

“Given it’s unique foundation, and the decade of recovery audit experience that has been baked into it, it is no surprise that Lavante is finding ten (10) times the savings of an average recovery audit, and up to fifty (50) times for select clients — even though the product is still in Private Beta and full (seamless) integration (with SIM) won’t be available until next year.

Read the Entire Article >>

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Developing and Maintaining Accurate Supplier Data

By Thomas Kase, Lead Analyst, Spend Matters, and Jason Busch, Executive Editor, Spend Matters

“The lack of consistent, high-quality supplier information is costing the typical Global 2000 company tens of hundreds of millions of dollars — annually!”

This new research report reveals the often hidden impact that “dirty” vendor data has on an organization. The findings in the report show the breadth of this issue before discussing how AP and Procurement can fix the problems and deliver continuous, long-term savings to their companies.

Download White Paper >>

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Maximizing the Results of Statement Audits

Implementing Best Practices to Drive Fast, Continuous Credit Recoveries

In this recent interview with Sherry DePew, V.P. of Account Management at Lavante and former Director,  Shared Accounting Services at Boise Cascade, she discusses the impact of credit aging on statement audit recoveries, the different types of credits captured, and how without a statement audit process, these credits can be lost over time.

Read the Entire Interview >>

Download PDF >>

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Industry Resources: Statement Audits: An Untapped Source of Dollars for your Company

By PayStream Advisors

If you’re not doing a comprehensive statement audit, you are missing a huge opportunity. PayStream and Lavante worked together to conduct new research presented in a new white paper and webinar focused on how you can implement a statement audit that expands traditional recovery audit processes and delivers more dollars to your company.
 

Click on the links below to access these two valuable resources:

Download White Paper >>

Watch the Webinar Replay >>

 

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Lavante Awarded New Patent for Advanced Statement Audit Processes, Technology and Software Application

Industry-Changing Recovery Audit Approach Drives More Dollars to Companies’ Bottom Lines with Immediate Results

Lavante has been awarded a new patent by the US Patent and Trademark Office. The patent covers Lavante’s ground-breaking statement audit processes, technology and software application that fundamentally change the recovery auditing industry.

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LAVANTE Client Results

See how much Lavante customers have recovered, driving continuous dollars to enterprise companies' bottom lines - in days, not months

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The experts at Lavante will continue to present thought-provoking discussions around recovery audit processes.  

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