Project Description

October 27, 2009 – Lavante Expands Management Team with Key Engineering Hire

Leader in On–Demand Profit Recovery Continues Strong Growth

San Jose, Calif. – October 27, 2009 – Lavante, the leading provider of on-demand profit recovery and vendor information solutions for Fortune 1000 companies, today announced that Leigh Anne Glasson has been named vice president of product development. This and other personnel additions come as Lavante continues its rapid growth, with a doubling of new customer acquisitions for the first nine months of 2009 compared to the same period in 2008.

Glasson brings extensive experience in software development to Lavante, which will accelerate innovations in its SaaS-based profit recovery and vendor management products.  In addition to Glasson, Lavante continues to build its organization to increase product development, enhance customer service, expand audit operations and accelerate growth.

In a year that has seen many companies struggle in the midst of a challenging economic environment, Lavante has generated significant growth and momentum as it changes the fundamental nature of the profit recovery audit industry. As companies are forced to reduce staff, increasingly Accounts Payable and Accounts Receivable departments at Fortune 1000 companies are viewing Lavante services as an extension to their vendor file and cash flow management efforts.

News Highlights

  • Vice President of Product Development—Leigh Anne Glasson brings more than 20 years of software development and engineering leadership experience to Lavante.  Most recently, Glasson was the vice president of IT applications at VMware where she fostered engineering execution excellence. Prior to VMware, she was the vice president of engineering at Ariba where she was responsible for all development, QA and support for the Ariba Supplier Network and all of Ariba’s procurement products. During her more than nine years at Ariba, Glasson held various senior technical leadership roles and helped the company grow from its early stages into a large, successful corporation.  Previous positions include engineering management roles at DataMind, Informix and Hewlett Packard. She holds a B.S. in Computer Science from California Polytechnic State University.
  • Sales Growth – The number of new customers acquired has doubled compared to the same nine month period a year ago. Additionally, the size of the companies contracted with has increased by over 30%, a positive indicator for future revenue. All of the new customers added to-date in 2009 are Fortune 1000 companies.
  • Organizational Expansion – Lavante has continued to invest in personnel across the organization to support its rapidly expanding business. Management and staff additions in development, audit consulting, sales, and finance have been made this past quarter. Staffing has grown by nearly 30% compared to a year ago.

Quotes

“We continue to strengthen our organization with key hires to support and help drive our growth. The addition of Leigh Anne, with her extensive application development background, is an important addition to Lavante as we focus on introducing innovative products to our customers. I’m extremely pleased with the addition of this seasoned executive.”
Joe Flynn, Founder and CEO, Lavante

About Lavante

Lavante is the leading provider of on-demand profit recovery audit software and services, and vendor information management software solutions. Lavante helps Fortune 1000 companies enhance cash flow, productivity, compliance and control. Lavante’s innovative software automates the collection and analysis of information from a company’s entire vendor community. The Strategic Recovery process combines this vendor knowledge and accounts receivable records with intelligent accounts payable audit algorithms to maximize cash recoveries. Lavante’s SaaS-based software offerings provide on-demand, real-time visibility into the audit process and automate the updating and cleansing of vendor records. For more information, visit lavante.com. Follow us on twitter at twitter.com/lavanteinc.