SAN JOSE, Calif.--(BUSINESS WIRE)--Lavante Inc., the leading provider of cloud-based supplier management and profit recovery solutions for Fortune 1000 companies, announced today a major product expansion for international support, supplier collaboration and fraud prevention. Product expansion comes in parallel to strong H1 2015 revenue growth for the Supplier Information Management (SIM) product line as well as record growth for client acquisition across multiple industries.
Lavante's SIM platform in its Q2 release extended its support for international users across all major European languages and many Asian languages. Also extended was support for tax information validation as well as banking information validation. The expanded Lavante platform is currently host to tens of thousands of worldwide enterprise users through their respective corporate single sign-on applications.
In addition to expanded languages and validations, the product suite has seen a major uptick in supplier/client collaboration. Suppliers working with Lavante clients on the Lavante SIM application can now ensure that they are best representing their position as a premier business partner for their existing and future customers. Lavante software integrates with multiple third party sources to ensure companies can properly evaluate and represent their diversity, minority and small business status as well as many other critical business statuses. Lavante has also significantly improved suppliers’ ability to promote their credit worthiness and ensure their standing as a fraud-free entity while at the same time avoiding and preventing the possibility of inaccurately appearing on any terrorist watch lists including OFAC, OIG, EPLS, SAM and more.
"Our product expansion and client growth are both rooted in our ability to partner closely with customers," said Frank Harbist, CEO, Lavante. "Our most recent product release has been inspired entirely by partnering with clients and their suppliers to deliver real solutions to their everyday problems."
Product momentum comes at a time of steep growth for Lavante in terms of both revenue and client acquisition. Overall, company revenues continued to grow year over year anchored by a strong performance from the Lavante SIM product line which saw 82% revenue growth as compared to the same period in 2014. At the same time, growing market demand helped to catapult new client acquisition in H1 to record levels as total new clients grew by over 2X year-over-year. The strong growth underscores Lavante's position as the premier industry provider for profit recovery and supplier information management solutions.
Lavante is the leading provider of cloud-based supplier management solutions for Fortune 1000 companies. Our mission is to connect businesses with their suppliers while adding value to both by automating and improving the quality, accuracy and cost effectiveness of business interactions. For businesses our software and services help drive dollars to the bottom-line by ensuring quality of supplier data and automation of supplier onboarding and management, including burdensome tax and compliance requirements. For suppliers, we simplify the process of delivering value to clients and improve customer satisfaction, the ability to win new accounts, and profit.
Learn more about Lavante: http://www.lavante.com