Our announcement last week that SAP Ventures led our series C funding round is being greeted by the market with great enthusiasm! This is the buzz we are hearing from our customers as well as industry influencers. We are thrilled to receive such positive reinforcement, and will present how our customers have reacted to the news in this blog. Next week, I’ll post a recap of how the industry has reacted.

Overwhelmingly, our clients have had positive feedback about the news. On one level, they are looking forward to faster, more aggressive new product development and roll-outs. As our customers have first-hand experienced the many benefits of the Lavante recovery audit and supplier information management solutions, they just want more! They are especially excited at the ability to use Lavante Recovery to fund the deployment of the Lavante Supplier Information Management solution. This drives a double win-win for our clients.

Additionally, our customers recognize that this investment is a clear testament from one of the world’s technology leaders that Lavante’s strategy is sound and positioned for significant growth. They see that that the relationship with SAP Ventures makes good sense, given the how Lavante solutions work as a compliment or extension of enterprise existing ERP systems. Lavante clients use an array of ERP systems, including PeopleSoft, Oracle, JD Edwards, and Lawson, as well as SAP. Whether using Lavante Recovery™ or Lavante SIM™, our customers see a positive future in our working closely with all ERP systems.

Next week, I will look at how the industry has responded to this news and what we believe it means for the recovery audit and supplier information management market moving forward.