Yearly Archives: 2010

/2010

CUSTOMERS APPLAUD SAP VENTURES’ INVESTMENT IN LAVANTE

Find out how Lavante customers have greeted the news that SAP Ventures led Lavante's C round of funding. The second in a series of three blog posts by Lavante CEO Joe Flynn.

Lavante Funding Validates Technology Leadership in Recovery Auditing and Supplier Management

Joe Flynn, CEO & Founder of Lavante, discusses his thoughts about Lavante's series C funding, which is led by SAP Ventures. The blog presents the reasons he feels the funding validates Lavante's vision of how on-demand supplier information network solutions will enliven this industry.

Senate Votes on 1099 Tax Reporting Amendment / Repeal

There has been no shortage of speculation about a forthcoming repeal of the 1099 reporting changes that were included in the passage of 2010’s Patient Protection and Affordable Care Act. Under the new law, companies will be obligated to perform 1099 reporting on a much larger population of vendors than in prior years*.  As a result of these changes and the subsequent debate, we need to seriously ask ourselves if it is likely that the law will ever be repealed and what, if any, affect should that have on the manner in which we prepare for the forthcoming changes. In response to the legislation Congressional Democrats and Republicans have both submitted repeals and or amendments in an effort to undo some of what many see as overly burdensome elements of the new 1099 reporting requirements.  The first wave of these efforts -amendments to raise the $600 limit and to repeal the law altogether –  were both denied by the Senate on September 14th.   This Monday, similar amendments were introduced by Senate Democrats and Republicans to the Small Business Jobs Act but… […]

Happy Thanksgiving from Lavante!

It is hard to take one day of the year and squeeze in all of the “thanks” that we have built up over the other 364 days.  But it is nice for us to at least give it a try.  Lavante and all of our employees have much to be thankful for through the first [...]

By | November 25th, 2010|Categories: AP Industry, Lavante|Tags: , |0 Comments

Lavante and Ariba highlighted for New Cashflow Metrics

AP Matters Magazine highlighted Lavante in a recent article in their September/October edition. The Article features conversations with executives from Lavante and Ariba discussing how their firms are creating new cash flow metrics that are helping financial executive watch there bottom line a little more closely. Joe Flynn, CEO of Lavante discussed how Lavante's DCO [...]

FREE – 1099 Reporting Changes Webinar – September 17, 2010

FREE 1099 Reporting Changes Webinar Attend a free  webinar to help you understand the effects that the new 1099 laws will have on your company and department. The presentation will be hosted by Sherry DePew the former head of Boise Cascade's global  Shared Services Group and Mindy Harada a renown tax consultant with Armenino McKenna [...]

For Consumers, Online Bill Payment Is Becoming Mainstream

That’s one conclusion from Fiserv’s 2010 Billing and Payment Trends Survey, which was completed in January by more than 3,000 individuals. Some highlights: About four out of five households pay at least one bill online through their financial institution. Overall, about one-fourth of all bill payments were completed online, up from about 7 percent in 2000, and nearly equal to check payments, which came in at 26 percent. In 2000, just over half of all consumer payments were completed via checks. […]

By | September 9th, 2010|Categories: Technology|0 Comments

IAPP Coverage of Lavante Supplier Information Management – Lavante SIM

Last week Lavante got some excellent coverage by AP Matters editor Diane Sears about Lavante's Supplier Information Management product, Lavante SIM. Sears makes a number of very compelling observations about the need for SIM in the current corporate environment and she does a great job explaining how corporations that are faced with increasing TIN collection demands  can achieve [...]

Burr Pilger & Mayer’s comments on new 1099 Reporitng Laws

Recently Burr, Pilger & Mayer LLP published an article discussing the new 1099 tax laws that were passed in this year's Patient Protection and Affordable Care Act (PPACA).  The new law is an expansion of Internal Revenue Code 6041, which currently requires Form 1099-MISC only for purchases of services and specifically excludes reporting transaction with [...]

By | September 1st, 2010|Categories: AP Industry, 1099 Reporting|0 Comments

Wachovia Bank wins positive pay lawsuit

If your firm hasn’t installed positive pay, you should seriously consider doing so. That’s one lesson to be learned from a recent case involving Wachovia Bank and its client’s insurance company. According to this summary of the case by Greg Litster, president of SAFEChecks, and Frank Abagnale of Abagnale & Associates, Wachovia came out the winner in a lawsuit against its customer’s insurer, after the payee on one of the company’s checks – for more than $150,000 – was altered. Wachovia’s client, Schultz Foods Company, had demanded that Wachovia cover the loss, saying it had processed the check in violation of the Uniform Commercial Code. Wachovia refused, noting that the company had repeatedly refused to implement positive pay, which would have picked up on the altered name. In fact, the company had been a victim of check fraud several times before the incident that led to the suit. Wachovia had covered those losses. […]

By | September 1st, 2010|Categories: AP Industry, Recovery Audit|0 Comments