Project Description

May 26, 2009 – Lavante Founder, President and CEO Joe Flynn Named One of Silicon Valley’s Most Accomplished “Under 40” Executives

Flynn Recognized on the Silicon Valley / San Jose Business Journal’s “40 under 40” List for Professional and Community Achievements

San Jose, Calif. – May 26, 2009 – Lavante, formerly AuditSolutions, the leading provider of on-demand profit recovery solutions for Fortune 1000 companies, today announced the selection of Joe Flynn to the Silicon Valley / San Jose Business Journal’s “40 Under 40” list. This year’s honorees come from a broad spectrum of professions in the Silicon Valley business community and are being recognized for their entrepreneurial spirit, community contributions and impact on their respective industries in Silicon Valley. The full list appeared in a special issue of the Business Journal, which appeared on May 22. The group will also be honored at a special presentation at the Computer History Museum in Mountain View on June 25.

Joe Flynn’s Professional Accomplishments

  • Lavante has grown by using innovative technology to automate what traditionally has been a labor-intensive auditing process. The company is servicing Fortune 1000 companies across the country, including a $20 billion healthcare provider, a $7 billion manufacturer and distributor of paper products, a $4 billion Miami-based cruise line, and a $2 billion fast food chain.
  • Today, Lavante has become the fastest growing firm in its industry by recovering millions of dollars for its clients, with recovery totals far higher than competitors, and providing vital information that helps companies prevent future transactional errors. Lavante has generated an average of over 50 percent revenue growth each year since 2006. The most recent quarter ending March 31, posted growth of more than 90 percent compared to the same quarter in 2008. The upward revenue trend is projected to continue in 2009 as more companies discover the benefits of the Lavante solution.
  • Lavante and its investment partners Venrock and ATA Ventures closed the company’s Series B financing on April 8, 2009. The incremental capital will allow the company to accelerate its business operations through additional management, sales, and operational hires.
  • Lavante was voted overall top vendor by accounts payable professionals at the recent IAPP Conference in Orlando, Fla., April 19-23.

Joe Flynn’s Community Achievements 

  • Flynn serves as chairman of the finance committee for work2future, a non-profit organization that exists within the San Jose Office of Economic Development. work2future is dedicated to strengthening the economic base of San Jose and Santa Clara counties by offering training programs and providing businesses with the workforce tools they need to succeed. These programs increase employment opportunities and job retention for all residents. As proof of Flynn’s commitment to work2future’s mission, Lavante currently employs individuals that have participated in the organization’s training programs.
  • Flynn serves in the Bay Area chapter of Vistage, a non-profit organization that mentors professionals to reach their full leadership potential.
  • Flynn was involved with the creation of BusinessOwnerSpace.com, an online  integrated source of information and services for those entrepreneurs and small business owners who want to start, grow and sustain a business in San Jose.

Quotes

“It’s an honor to be recognized by the Silicon Valley / San Jose Business Journal for both professional and community accomplishments. I’m extremely proud of the entire Lavante team and what we have been able to accomplish, but I also believe we have a responsibility to contribute to our community in ways that make a real difference. I’m very pleased that the Business Journal embraces this definition of ‘accomplished’ and it bodes well for the future of our region and industry.”
Joe Flynn, Founder and CEO, Lavante

“I’m happy to see Joe get honored with this prestigious ‘40 Under 40’ selection. I have always respected him as a businessman and appreciated his dedication and commitment to helping our organization better serve the community. His business experience, get-it-done attitude, and ‘practices what he preaches’ actions of hiring our training program graduates, are invaluable assets in making work2future effective.”
Jeff Ruster, Executive Director, work2future

“Joe represents the epitome of entrepreneurial leadership. He’s smart, resourceful, and dedicated. That dedication applies to his organization, his firm’s stakeholders, his family and his community. It continues to be an absolute pleasure to work with a business leader of Joe’s caliber.”
Bob Puette, CEO Puette Capital Management and Lavante Director

Lavante, formerly AuditSolutions, is the leading provider of on-demand strategic profit recovery and vendor information management software solutions. Lavante helps Fortune 1000 companies enhance cash flow, productivity and control. Lavante’s innovative software automates the collection of information from a company’s vendor community and applies analytics to uncover, clarify, and map vendor relationships. The company’s Strategic Recovery process combines this knowledge and vendor accounts receivable records with intelligent accounts payable audit algorithms to maximize cash recoveries associated with transactional errors. Lavante’s SaaS-based offering provides on-demand visibility into the audit process and helps prevent future profit loss. For more information, visit www.lavante.com.  Follow us on twitter at twitter.com/lavanteinc.