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 a complete and immediate solution through Lavante SIM.
I’d like to use this format to repeat a few of the Lavante SIM features called out by Sears in her article.
1. It drives compliance from suppliers. It automates the process of gathering information that would cost your company money, time, and resources if it were missing. Perhaps most importantly this year, with the 1099 tussle, Lavante SIM performs an automating taxpayer identification number (TIN) match to ensure quality data. In addition, it automates the process of collecting data and documents by pinging suppliers when their expiration dates are approaching. Lavante SIM also offers an out-of-the-box solution for new supplier set-up and data collection, taking note of details such as the supplier’s status as woman- or minority-owned.
2. It’s affordable.Lavante SIM is a software-as-a-service (SaaS), so organizations don’t have to invest their IT time in setting it up in-house. Also, organizations can start with one or two components and add others as they go. Known for its high-yielding audits in the profit recovery space, Lavante offers a unique solution for keeping the cost of its vendor portal product low. Lavante’s recovery services can pay for the project.
3. It‘s scalable. Charges are based on the application’s ability to get suppliers to comply with data requests. It’s a subscription model based on the number of suppliers per month per tier.
Check back for more links to media coverage of Lavante SIM.