I am very proud to announce that Lavante SIM was released for general availability on August 9th. This launch marks the expansion of our vendor file management services into a larger suite of supplier information management products and services.
Lavante SIM has been created specifically to address the feedback that we have received from the market over the years about the challenges that all of you face. Lavante has learned that supplier information is integral to optimizing relationships with suppliers and for maximizing the value from your ERP system and other automated solutions. Used correctly, a well-kept supplier master data file is a strategic asset that you can leverage into time savings, resource savings and dollars to your bottom line.
The collection and management of supplier data is more important now than ever based on the growing number of regulations and controls that your departments are faced with. In that last years alone stricter penalties and controls have accompanied new OFAC screening laws, Sarbanes Oxley and diversity mandates (to name a few). In just the last few months, 1099 tax legislation was included in the new health care bill which will require you to collect TINs, W-9s and W-8s and to perform 1099 reporting on a larger scale than ever before. Your companies will likely need to implement new policies and new systems to manage supplier information and stay in compliance.
Lavante SIM has been built as a direct solution to the challenges that you and your departments face. The on-demand application is the industry’s most advanced solution and enables companies to proactively engage with suppliers on an ongoing basis. The product drives 8 times the compliance of any other competitive solution and manages communication across the entire supplier lifecycle, from on-boarding, to data capture and validation, to automated maintenance. Lavante SIM can help you with vendor master file cleansing as well as TIN collection and validation against the IRS website. The product will even help to reduce costs and labor of ERP installs and upgrades.
We are proud to announce the delivery of this revolutionary product and we are proud to work so closely with our clients to create real solutions to major industry problems. I encourage you to reach to your Lavante contact person or to visit the Lavante website at www.lavante.com to learn more.
Thanks for taking the time to read this,
Joe Flynn, Founder and CEO, Lavante Inc.
Lavante Supplier Information Support: