The Supplier Information Management (SIM) industry leader delivers a powerful plug-and-play solution suite into the middle market.
San Jose, CA January 26, 2016 — Lavante, Inc. the leading provider of SaaS solutions for Supplier Information Management (SIM) announced today the development and deployment of its Lavante SIM solution suite into a market segment stretching well below the company’s traditional Fortune 1000 marketplace.
Leveraging their award-winning Lavante Connect platform, the San Jose based technology firm has packaged a streamlined and powerful SIM solution suite to meet the needs and demands of the mid-market – which Lavante defines as companies spanning from $200 million to $2 billion in revenue.
The new off-the-shelf solution deploys in just days and delivers all of the critical features that set apart Lavante SIM in the enterprise market place including: a supplier portal; supplier on-boarding; W8/W9 management; contract management; bank information validations; certification collection; diversity tracking and much more. In addition, the mid-market offering remains SOC 1 Type 2 & SOC 2 Type 2 compliant, a distinction that Lavante alone holds amongst competitors in the SIM marketplace.
The newly deployed product allows Lavante to serve a substantially broader market, and the benefits to mid-market companies and their suppliers are demonstrable. Ernie Martin, industry expert and chief analyst at ReceivableSavvy, acknowledges the impact on the new market segment, “With an ever-increasing need for all companies to expertly manage their supplier information and relationships, the Lavante mid-market offering grants growing companies access to the same world-class tools in use at large international enterprises.”
“Over time and through many deployments, the core functions of our underlying platform have become highly scalable and efficient,” explains Vinay Ambekar, Senior Vice President of Engineering. “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.”
The migration into mid-market bodes well for growth of the Lavante Supplier Network. Expansion into this market segment will drive a new and massive population of companies into the portal. Every client, partner and supplier in Lavante ecosystem benefits from this expansion.
Lavante’s Q4 2015 SIM sales grew by 134% over the same period in the prior year while annual 2015 SIM revenues nearly doubled. To satisfy growth in the core enterprise market alongside the parallel growth into the mid-market Lavante doubled their sales staff in 2015 and plans to double the team again in 2016.
Lavante is the leader in on-demand supplier information management. Built on the patented Lavante Connect Platform, Lavante solutions generate and delivers the highest-quality data to clients and suppliers while syndicating data solutions to partners throughout the P2P ecosystem. Lavante data optimizes supplier value and supports better decision making across enterprise environments. Lavante solutions are deployed across Fortune 1000 companies including the hospitality, retail, entertainment, manufacturing, and medical industries. Headquartered in San Jose, California, Lavante is privately held and was founded in 2001. For more information please visit www.lavante.com.
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