Trive Capital Joins Forces with Illumis Global to Enhance Vendor Management Solutions

Trive Partners with Illumis Global to Form Vendor Management Platform

Trive Capital, located in Dallas, has made headlines by announcing its latest investment in Illumis Global, a leader in accounts payable recovery audits and business intelligence solutions. This collaboration is set to create a cutting-edge vendor management platform designed to enhance the financial clarity and contract compliance for various corporate clients.

Founded in 1994 and based in Mount Pleasant, South Carolina, Illumis Global specializes in accounts payable audits, contract compliance, and supply chain optimization. Utilizing innovative technology, such as their proprietary audit software tools, IQ and Knowledge Exchange, Illumis enables its team to effectively reconcile accounts directly with suppliers. This technology-driven process not only improves accuracy but also increases recovery rates while fostering collaboration between clients and their vendors.

Jason Lipari, the President of Illumis, expressed enthusiasm about this new venture, which aims to expand their audit services through Trive’s support. “With this strategic alliance, we will tap into advanced technology and introduce a proprietary Group Purchasing Organization (GPO) to provide our clients with even greater savings,” he stated. Lipari emphasized the shared vision of building a comprehensive vendor management platform that enhances financial recovery, nurtures vendor relationships, and mitigates risks for clients.

The announcement comes as Eric Hsu, a Managing Director at Trive Capital, shared his optimism regarding Illumis’ data-driven approach. He noted Illumis has distinguished itself as a top-tier provider of accounts payable audit solutions with industry-leading recovery rates. As part of the partnership, Trive intends to invest in technology resources that will augment Illumis’ capabilities and broaden its service offerings.

Blake Bonner, a Partner at Trive Capital, underlined Illumis’ credibility as a trusted partner for leading organizations. He commented, “Illumis has built a reputation for delivering tangible cost savings and enhancing transparency across complex spend categories. We believe its distinct service model and industry expertise uniquely positions it as a leader in the field.”

Moreover, Conner Searcy, Co-Founder and Managing Partner at Trive Capital, remarked on the promising opportunity this investment provides to strengthen Illumis’ foundational success. “By partnering with a talented management team, we are creating a scalable platform to meet the evolving needs of clients facing intricate supply chain challenges,” he explained.

This partnership not only signifies a crucial milestone for Illumis as it looks forward to amplifying its impact on the market, but it also marks an integral phase for Trive Capital. With over $8 billion in assets under management, Trive's focus has consistently been on strategically viable middle-market companies, aiming for significant operational improvements. Their investment philosophy mirrors the complexities of modern business landscapes and reaffirms their commitment to transformative growth.

Overall, the collaboration between Trive Capital and Illumis Global is set to reshape vendor management practices, streamline operational processes, and ultimately enhance financial outcomes for their clients. As both companies honor their commitment to innovation and strategic development, their journey ahead appears poised to yield substantial benefits for not only their organizations but also the clients they serve.