Lavante SIM revenue doubles while profit margins for the SaaS platform achieve record level
Client growth and business momentum continued to roll along as Lavante finished well ahead of plan for H1 revenue in 2016. To accomplish these elevated levels, the company drove 2X growth in SIM revenue over the same period from the previous year. Lavante also enjoyed the highest monthly per-client recovery totals in the company’s history.
Revenue growth is owed to constant technology advances from the company’s quarterly product releases which consistently improve Lavante’s ability to drive rapid deployment and maximum scalability while ensuring the highest security standards. H1 improvements to the SIM platform’s outreach and communication capabilities have increased supplier compliance levels by an average of 16% over previous levels. Better communication, higher compliance and more consistent participation from suppliers have escalated H1 2016 profit margins – netting a gain of seven points above the profit margins from the same period in the previous year.
Lavante used the first half of 2016 to release Lavante SIM 6.0, which included, among other features, Lavante ScoreCarding, the first score carding module of its kind to incorporate real-time access to data and configurable controls. Lavante SIM 6.0 dramatically expands the client’s ability to evaluate supplier performance and drive value from their relationships.
Lavante’s growth and innovation come in parallel to a number of other major company milestones during the last two quarters: Lavante strengthened their claim as the premier SIM platform in the healthcare industry, nabbing three of the country’s top providers; Lavante was highlighted as a “Top Service Provider to Watch” in 2016 by SpendMatters; Lavante senior leadership team member, Josh Morrison, was selected to join the board of the Institute of Financial Operations; Lavante delivered a record-setting Spring Webinar series aimed at educating the market on the importance of Supplier Data Quality.
Lavante is the leader in on-demand supplier information management. Built on the patented Lavante Connect Platform, Lavante solutions generate and deliver 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 in industries including hospitality, retail, entertainment, manufacturing and medical. Headquartered in San Jose, California, Lavante is privately held and was founded in 2001. For more information, visit www.lavante.com.
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