Project Description

October 26, 2010 – Lavante Record Growth Continues Through Third Quarter 2010

Lavante more than doubles year-to-date revenue and adds record number of new customers

San Jose, CA – October 26, 2010 – Lavante, the leading provider of on-demand recovery auditing and supplier information management (SIM) solutions and services, today announced record company revenue, growth and customer acquisition for the third quarter of 2010.

Lavante’s Q3 and year-to-date revenue results more than doubled that of the same periods in 2009. Record new customer acquisition, as well as contributions from Lavante’s growing population of partners fueled Lavante’s growth and momentum.

Lavante’s new Fortune 1000 customers include industry leaders in newspaper publishing, home improvements, luxury hotels, healthcare, financial services, retail and manufacturing.  “We are looking forward to working with Lavante,” states Gerald Embry, Vice President – Administration, Shaw Industries Group, Inc.  ”Lavante is the industry’s recognized leader in statement auditing.”  Shaw Industries Group, Inc., a subsidiary of Berkshire Hathaway, Inc., is the world’s largest carpet manufacturer and leading floor covering provider.

Since 2001, Lavante has developed innovative solutions for connecting companies and suppliers, driving the highest supplier compliance in the industry.  Lavante solutions include on-demand recovery auditing and supplier information management which help companies drive dollars to the bottom line, ensure quality of supplier data and improve supplier relationships.  Lavante recovers millions of dollars for large enterprises on an annual basis.

“Lavante is experiencing amazing growth in this economic climate,” said Joe Flynn, Founder and CEO of Lavante.  “We’re helping our customers improve their supplier data, while finding more vendor statement credits and delivering cash faster than anyone in the industry.”

About Lavante

Lavante (www.lavante.com) is the leading provider of recovery auditing and supplier information management (SIM) solutions and services, helping Fortune 1000 companies enhance cash flow, productivity and compliance.  Lavante’s on-demand SIM solution enables companies to proactively communicate with suppliers and gain real-time visibility into suppliers and relationships, including the ability to collect and validate Tax Identification Numbers (TINs) and W9s to drive compliance with new 1099 reporting changes.  Lavante’s Recovery Audit solution enables companies to maximize vendor statement audit recoveries and supplier insights across 95% of spend.  Delivered on-demand, Lavante’s Solutions help companies drive dollars to the bottom line, ensure quality of supplier data and improve supplier relationships. For more information, visit www.lavante.com. Follow us on Twitter at www.twitter.com/lavanteinc.