Lavante has released a new Supplier Information Management (SIM) application, delivered in a software-as-a-service (SaaS) model. According to the vendor of profit recovery and supplier-management tools, Lavante SIM aids in compliance across the entire supplier lifecycle, from initial vendor master file cleansing to on-boarding and ongoing maintenance. The tool automates the collection, validation and management of supplier data, including information about tax, diversity, risk and insurance certificates. Users can create a "single source of truth" to ensure the integrity of supplier data, gain insight into the supplier base, drive compliance with regulations and reduce the cost of managing suppliers. Lavante SIM allows for the collection and validation of tax information, including taxpayer identification number (TIN) matching against the IRS, as well as the collection of W-9s and W-8s.
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