CHERRY HILL, N.J., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced today that the company has been recognized by Spend Matters as a Top 50 Procurement Provider to Know for the fifth consecutive year.

Now in its tenth year, the Spend Matters Top 50 Providers to Know list recognizes best-in-class companies in the procurement and supply chain market. Vendors listed are independently selected by the analyst team over multiple rounds of debate, focusing on factors such as innovation, market presence, tech competency, and solution delivery.

“Corcentric's fundamental Source-to-Pay (S2P) and Accounts Payable (AP) capabilities have evolved significantly over time,” said Nikhil Gaur, Research Analyst & Project Associate, Spend Matters. “Comprising various business lines, Corcentric has made substantial strides in expanding its footprint within both the S2P and Order-to-Cash (O2C) domains, while also deepening its focus on payments, working capital, and trade financing.”

Corcentric leverages smarter services and technology across the procurement and finance lifecycle, allowing customers to optimize profitability by reducing costs, increasing efficiencies, and improving cash flow. And with real-time visibility into spend, smarter analytics, and accurate forecasting, customers can focus on strategic growth planning.

“This recognition is a testament to the commitment, ingenuity, and customer-first attitude embodied by everyone throughout our organization,” said Matt Clark, president and CEO at Corcentric. “Our people ensure every day that our products and services are not only all-encompassing across the procurement spectrum, but easily tailored to meet the individualized needs of each customer to provide the best financial outcomes for their business.”

As a part of its robust Managed Services offering, Corcentric’s Managed AP works as an extension of a customer’s back-office to optimize end-to-end AP workflows. From invoice receipt to approval routing to PO and receipt of goods matching, Corcentric streamlines processes to reduce costs, increase accuracy, and provide real-time visibility into invoice and expense status.

Corcentric’s innovative S2P solution helps businesses save money, increase efficiency, reduce risk, and improve working capital to drive measurable, sustainable results. The single platform solution also provides real-time data that allows a customer’s sourcing and procurement teams to improve forecasting, category management, decision making, spend analysis, and more.

And with Corcentric’s O2C solution, part of its Managed Account Receivable (AR) suite of services, customers can significantly reduce days sales outstanding (DSO) by guaranteeing payments and eliminating credit risk. This translates directly into an improved working capital position, better customer service and, ultimately, a positive impact on a business’s cash flow.

About Spend Matters
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner.

About Corcentric
Corcentric is a leading global provider of best-in-class procurement and finance solutions. We offer a unique combination of technology and payment solutions complemented by robust advisory and managed services. Corcentric reduces stress and increases savings for procurement and finance business leaders by forming a strategic partnership to diagnose pain points and deliver tailor-made solutions for their unique challenges. For more than two decades, we've been a trusted partner who delivers proven results. To learn more, please visit www.corcentric.com.

Media Contact for Corcentric:
Rob Tacey
Director, Communications & Public Relations
Press@Corcentric.com
(302) 897-3094