Great story from the Lavante newsroom today! We announced the development and deployment of our Mid-Market SIM offering for general availability. This is no small feat for our team as we have, to this point, invested so heavily into building a powerful enterprise application. The new product is in production at several mid-market companies now spanning in size from $200M to $2.0B and universally our new clients are thrilled with our ability to expand and create a parallel offering for the mid-market that is as powerful as the enterprise version and offers many of the critical features.
In the news story, we feature a key quote from our SVP of Engineering Vinay Ambekar, where he explains “over time and through many deployments, the core functions of our underlying platform have become highly scalable and efficient.” Vinay is quoted further as saying “we have leveraged our deep and unique knowledge in the SIM space to create a sleek package that satisfies the expressed supplier information management needs of the middle market while still delivering a strong out-of-the-box product at a competitive price point.”
Vinay is pointing out that our goal was not to create a lite application to sit on the Lavante Connect Platform for quick and dirty use at Mid-Market companies. (The market is littered with a number of failed attempts to quickly stand-up a supplier portal.) Our goal was to “leverage” the many things that make us unique. As Vinay points out, we leverage our award-winning platform; we leverage our many SIM deployments since 2008; and we are leveraging a management team that has been together for many years building these solutions. It is only through the perfect storm of an award-winning platform, major F1000 deployments, and expert experience that you can create the leverage required for making a successful, scalable – and yet affordable – SIM solution for the mid-market.
In anticipation of growth in the new market segment, we have expanded the size of the sales team and we are anticipating strong adoption for the new offering. Clearly, the new wave of clients using the SIM application will send a massive volume of suppliers into the Lavante Supplier Network. The migration of more companies into the network will have very positive impact for all Lavante clients; for all suppliers; and for our partner community. Ultimately an announcement like today’s speaks very clearly to the ultimate goal of creating a definitive network where every company in the ecosystem has easily integrated access into the highest quality data.