In my last post, I focused on how our customers have reacted to SAP Ventures’ investment in Lavante. Here, I’d like to present why I think this move offers very good news for the financial/AP audience.
The recovery audit industry has increased the demand for real solutions that move beyond the manual processes of traditional recovery solutions. There is a critical need to incorporate advanced technology that will invigorate and reinforce these more traditional approaches to recovery audit offerings.
At the same time, the supplier information management market has not yet taken off in the manner the industry expected. Quality supplier data is absolutely critical to companies and enterprises feel the pain of dirty supplier data on a daily basis, but the market has yet to explode. Click here to read Jason Busch’s Spend Matters article about the market for more information.
At Lavante, we think we’ve cracked the code by combining the two markets and providing an integrated, on-demand technology solution for both recovery auditing and supplier information management. SAP Ventures funding in Lavante validates a vision that Lavante has long championed – where on-demand solutions enable companies to tap into previously unavailable recovery resources while automating and streamlining the entire supplier communications processes. Consider a key reason SAP Ventures gave for investing in Lavante:
“Lavante’s supplier information management solution, combined with its recovery auditing solution, is the killer application to drive rapid adoption of the Lavante Supplier Network. SAP Ventures sees a massive market opportunity for Lavante.” — Andreas Weiskam, partner, SAP Ventures
Killer apps rise to the top because they answer a critical business problem and solve real pain points. The first killer app was produced in the late 1970s as VisiCalc* gave the finance community a revolutionary electronic spreadsheet (soon followed by Lotus 1-2-3 and finally Excel), dramatically propelling the nascent personal computer market forward. Lavante’s ability to leverage the benefits of recovery audit together with a comprehensive supplier information management within a single on-demand platform, like a killer app, will deliver remarkable power to today’s enterprises and solve immediate pain points for enterprise finance departments.
Lavante is committed to delivering on this vision, delivering technology solutions that can scale to meet today’s enterprise needs for seamless connections and transparent access to all supplier information.
Be sure to subscribe to The Hub and receive email alerts when we have posted new blogs to The Hub. The next topic will look at the, statement audit recovery process, and how technology can help deliver continuous dollars to your company’s bottom line.
* Click here to read for more information on the VisiCalc story