Big news today! Lavante and Experian are teaming up to change the game as it relates to managing supplier risk. Read all about it in today’s press release.
By teaming up with Experian, Lavante will incorporate multiple commercial attributes from Experian’s BizSource database into its flagship solution, Lavante SIM, to deliver a financial stability modeling tool for enterprises to more thoroughly evaluate their new and potential suppliers and business partners. The new offering enables valuable workflows and functionalities that were previously unavailable in the marketplace.
In addition, the Lavante Supplier Network (LSN) will leverage Experian’s data and analytics to enhance its preferred supplier score-carding abilities and relay an accurate assessment of a suppliers’ business standing to enterprise clients. This offering is the only solution of its kind to completely assess the health and viability of service providers prior to their selection as a trusted supplier. As a core component of the initial delivery, clients will be granted complete flexibility in the Lavante SIM configurable set up engine to define their specific parameters for supplier evaluation.
Noted industry expert and champion of fraud prevention in the P2P space, Chris Doxey gave the joint solution two thumbs up, “Supplier fraud and risk are arguably among the biggest challenges facing an enterprise today. I cannot think of a single enterprise that would not benefit from employing the Lavante and Experian toolset.”
Future products that will soon arise from this combination of solutions will include granting suppliers real-time access to rating and status as a potential business partner with future clients and customers. Suppliers will gain the ability to view potentially perceived risks and deficiencies, as well as access to tools that address any shortcomings through corrective measure.
The goal for Lavante and Experian in delivering this expanded solution is for enterprises and suppliers is to significantly reduce the incidence of fraud and risk in their relationships while raising the overall quality of available data to enhance decision making for all parties.
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