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 CreditsWhy a Fast Start to Credit Recoveries is a Best PracticeWhile 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. |
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Automating the Recovery Process - WebinarHow Technology is a Best Practice in Recovery AuditHenry 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 CreditsEarlier 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. |
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Accurate Supplier Data in Pharmaceutical ProcurementBy Thomas Kase, Lead Analyst, Spend MattersThis 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. |
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The Case of the Disappearing Credits - WebinarWhy a Fast Start to Credit Recoveries is a Best PracticeMary 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. |
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Strategic Profit RecoveryLAVANTE 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. |
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Strategic ReportingLAVANTE 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 LineOn Deck with Lavante for Ongoing CreditsOn 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.” |
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Lavante Recovery — A Risk-Free Way to Segue Into SIMBy 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. |
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Developing and Maintaining Accurate Supplier DataBy 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!” |
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Maximizing the Results of Statement AuditsImplementing Best Practices to Drive Fast, Continuous Credit RecoveriesIn 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. |
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Industry Resources: Statement Audits: An Untapped Source of Dollars for your CompanyBy PayStream AdvisorsIf 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: |
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Lavante Awarded New Patent for Advanced Statement Audit Processes, Technology and Software ApplicationIndustry-Changing Recovery Audit Approach Drives More Dollars to Companies’ Bottom Lines with Immediate ResultsLavante 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 ResultsSee 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. |
Latest Recovery Topics from the Lavante Blog
- Lavante Is Honored to Receive Technology Excellence Award from PayStream Advisors
At last month’s PayStream Advisors Fast Track to P2P Automation Summit in Charlotte, NC, Lavante was honored to be included in the technology... - Notes from the Field: Presentation to IFO Chapter Meeting Focuses on Finding Lost Vendor Credits as Part of an Automated Statement Audit Process
Last month I shared some thoughts about a recent trip to Minneapolis where we presented The Future of AP at an industry lunch & learn session. I... - A Leading Healthcare Provider Recovers $300,000 in Lost Credits Thanks to a Lavante Recovery Process
Earlier this year, Lavante Recovery+ worked to return over $300,000 to one of its clients through its automated recovery processes. The credit that... - Lavante Recognizes AP Thought Leaders at Fusion 2012
For those of you who were able to attend the IFO Fusion 2012 conference in Nashville, I hope you had a chance to stop by Lavante’s booth and... - Notes from the Field – AP Discussion Increases around the need for Effective Supplier Management Processes
Last month I had the pleasure of visiting Minneapolis to participate in two separate events – a lunch & learn session co-sponsored by Lavante,...
"Lavante's technology is a vast improvement over the current state of the recovery audit industry. It is hard to imagine performing a third party audit without the benefit of their online interface. They not only recover a large sum of lost revenue, but they help uncover trouble areas within our vast vendor population."
-AP Manager, Boise Inc.
- Fast "time-to-cash"
- 10x traditional results
- Seemless, automated solution