Lavante Delivers On-Demand Vendor Information Management for AP Departments

SAN JOSE, CA, Apr 20 (MARKET WIRE) --
Lavante, a leading provider of on-demand profit recovery solutions for
Fortune 1000 companies, today announced Lavante Vendor Information
Management (VIM), a new on-demand service for accounts payable
departments that are challenged with constantly changing vendor
information. VIM automates the process of ensuring accurate, up-to-date
vendor information, which helps prevent payment discrepancies and
improves the amount of profit recovery. In a related press release, the
company also announced today it will be showcasing the full suite of
Lavante's profit recovery solutions at the IAPP Conference April 19-23 in
Orlando, Fla.

Lavante VIM works with Lavante Strategic Recovery software and the Lavante
Vendor Network to maximize every recovery effort, providing instant,
real-time visibility into related, merged and duplicate vendors. With a
comprehensive and accurate view of its entire vendor population, companies
can now recover more cash with less effort and find new opportunities for
negotiating better pricing and terms with its vendors.

Benefits and Features

-- Comprehensive View -- Lavante VIM combines data from the vendor
database, the Lavante Vendor Network and external reference databases to
create the most accurate, comprehensive view of vendors. The on-demand
solution automatically updates contact information, removes duplicates, and
matches "parent" and "child" entities.
-- Enhanced Vendor Relationships and Communication -- Lavante VIM
facilitates automated correspondence and document sharing, and centralizes
information storage. A centralized database helps companies more easily
communicate with their often vast vendor population.
-- Improved Accuracy -- A comprehensive database helps companies more
easily reconcile their accounts payable records with their vendors'
accounts receivables. The system detects duplicate payments to related
vendors, helps prevent future duplicates, and gives visibility into vendor-
generated transaction errors.
-- Increased Recovery -- Automation enables a deeper, more comprehensive
review than with traditional methods, thus dramatically increasing cash
recoveries.
-- New Cost-Saving Opportunities -- With an aggregated view of all
vendors, Lavante VIM helps companies review their vendor relationships and
identify new opportunities for negotiating better pricing and terms.
-- Ease of Deployment and Use -- The on-demand, hosted Lavante VIM
service requires no hardware or software installation or on-site personnel.
All vendor information is available through an intuitive point-and-click
interface with real-time, dynamic access.

Quotes

Sherry Depew, Vice President, Product Management

"Companies relying on manual recovery audits are really caught between a
rock and a hard place today. The only way they can recover more of their
desperately needed cash is to spend more cash to do so! By providing a
comprehensive, accurate, real-time view of the entire vendor population,
the on-demand Lavante Vendor Information Management service works with the
Lavante Strategic Recovery software to provide an automated solution for
increasing cash recovery -- by as much as three times over typical audits
-- while simplifying, shortening and driving down the cost of the
process."

Sandy Champion, Accounts Payable Manager, Transit Mix

"Maintaining accurate vendor information such as W-9 forms, IRS TIN
matching and a myriad of other types of compliance information is a very
time consuming and resource intensive process. A system that automates the
process of collecting vendor information, keeps it updated over time, and
stores it in a central repository would significantly reduce resource
requirements, minimize payment errors and improve vendor compliance."

About Lavante

Lavante, formerly AuditSolutions, is a leading provider of on-demand
profit recovery, vendor information management and more. Lavante helps
Fortune 1000 companies to enhance productivity and cash flow by automating
communication with vendors and by creating an automated method to reclaim
and prevent profit loss due to typical transaction errors. For more
information, visit www.lavante.com. Follow us on twitter at
twitter.com/lavanteinc.

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Contact Information

Brigit Valencia
Eastwick Communications
650-480-4019
Email Contact

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