Supplier Information Management
Lavante SIM: On-Demand Supplier Information Management
Our enterprise-grade SIM software platform provides a simple, yet powerful, platform for clients to onboard and manage their entire global supplier base.
With technology based upon our patented recovery audit communications platform and defined by our 12 years of experience in helping companies to develop accounts payable best practices, our SIM platform enables our customers to easily onboard suppliers, ensure regulatory compliance, collect critical information, improve supplier communications, and significantly improve their bottom line.
Lavante SIM™: Benefits
Corporations that implement SIM realize a number of tangible benefits while simultaneously improving relationships with their vendors. Some of the benefits realized include:
- Reduced Vendor Support Expense - SIM greatly reduces direct and indirect expenses related to managing your Supplier relationships by providing end-to-end automation of the process. Lavante’s ROI Calculator helps organizations understand their current costs and the savings that implementing SIM will generate for the organization.
- Reduced Compliance and Fraud Exposure - Through automatic, on-going data review, refinement and reminders, supplier data is always updated and validated.
- Reliable Streamlined Single Source of Information - With SIM integrated tightly into its processes, companies have a reliable, streamlined, single source for Supplier information.
- Flexibility to Respond to Changes in Regulatory and Corporate Policy - SIM's built-in configurable workflow engine and configurable, dynamic fields ensure that it can grow with the needs of the organization, or as governments change their regulations.
Lavante SIM™: Features
Lavante SIM - Software as a Service (SaaS)
- SaaS Service – Hosting, Backup and Support included
- Simple implementation
Vendor Master Data Management
- Integrated supplier on-boarding
- Ongoing Automated Vendor Master File cleanse
- Proactive duplicate record management
- Regulatory compliance: TIN Matching, W9 capture, W8 Capture, OFAC/SDN watch lists
- Diversity tracking, credentials capture and retention
- Validation of supplier address to USPS database
- Expiration tracking and notifications
- Unlimited custom data fields
- Electronic signatures
- Configurable workflow
- Sub-organization capabilities enable distinct processes by business unit or geography
Separation of Duty Controls
- Role based security
- Real time data audit trails
- Real time process audit trails
Integrated Document Repository with E-Signature support
- Configurable Document collection: Insurance Cert., SSAE16, Diversity, etc.
- Ability to add internal documents: Contracts etc.
- Data and Image archive
Integrated Multi-Mode Outreach Engine
- Workflow enabled dynamic outreach algorithms (Email, Phone, Fax, Postal)
- Initial on-boarding and ongoing supplier communication email and fax campaigns.
- Document revision/retention history
Results-Based Decision Support Reporting and Analytics
- Integrated configurable online dashboards
- Unlimited real-time ad-hoc queries with integrated supplier outreach
Optional Advanced Features
- Advanced W8 collection and validation
- Integrated Recovery Audit Service
- Supplier Payment Visibility
- Multi-Language Support
- ERP Integration
Case Study: S&P 500 Diversified Manufacturer
Non-respondent suppliers respond with Lavante SIM
"This study looks at how a Mid-Western S&P 500 Diversified Manufacturer uses Lavante SIM to automate its communications and data collection with a generally non-respondent supplier population. As a result, the client has significantly reduced its exposure to risk as well as the cost to manage its supplier base. This manufacturer also uses Lavante Recovery which has enabled the collection of open credits from its suppliers which in effect has paid for Lavante SIM. "It's a dream come true for AP and Purchasing," says the Senior Account Payable Manager."
Download S&P Diversified Manufacturer Case Study Click here >>
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