CHERRY HILL, N.J., March 19, 2024 (GLOBE NEWSWIRE) -- Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced today that the company achieved high marks for its Managed Accounts Payable (AP), Payments, and Procurement services in the Spend Matters Spring 2024 SolutionMap.
The Spring 2024 SolutionMap and TechMatchSM rankings include 79 procurement technology vendors that underwent the most rigorous functionality and capability assessment within the industry. SolutionMap contains 500+ Request for Information (RFI) requirements across 12 Source-to-Pay (S2P) categories with mandatory demos and impartial, anonymized customer ratings.
“Beyond feature/function, we look at the platform elements to see what’s real and what’s not. Some users look for configurability, others don’t,” said Pierre Mitchell, chief research officer at Spend Matters. “We reflect buyer needs against, for instance, the application of AI, user experience, low-code platforms. With SolutionMap, procurement has this information at their fingertips.”
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.
“Under the most stringent assessment within the industry, we are delighted to see our key services perform at such a high level,” said Matt Clark, president and CEO at Corcentric. “This recognition stands as validation of our approach to combine industry-leading technology innovation with a knowledgeable and robust team constantly providing the highest level of individualized services to our customers.”
Corcentric offers a full suite of Managed AP solutions that combine service, technology, and financing to work as an extension of a customer's back-office, optimizing end-to-end workflows. From invoice receipt to approval routing to purchase order (PO) and receipt of goods matching, Corcentric helps customers reduce costs, increase accuracy, and offer real-time visibility into invoice and expense status.
Corcentric’s Managed Payments solutions eliminate friction in the payment process by optimizing programs through platform innovation, personalized support, and continuous process refinement. This combination of business payment services is key to unlocking cash flow. The benefits go way beyond the finance department, including stronger supplier and customer relationships, the elimination of fraudulent payments, and increased overall organizational efficiency.
Corcentric’s Managed Procurement frees your team to focus on value creation by taking on the burden of your day-to-day Procure-to-Pay (P2P) tasks, from tactical and strategic purchasing to supplier management. In addition, Corcentric provides the analytics that identify cost-saving opportunities and unlock working capital to grow a customer’s business.
About Spend Matters – Solution Intelligence for Procurement
Spend Matters started as the first blog and social media site in the procurement and supply chain sector and has since grown into the leading source for data-backed technology and solutions intelligence. Serving private and public sector organizations, consultants, private equity and services and solution providers, Spend Matters drives strategic technology purchasing decisions and superior marketing and sales, product and investment outcomes for clients. Spend Matters is the only tech-enabled, proprietary data platform with exclusive IP that serves the global procurement, finance and supply chain technology ecosystem.
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
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1753ff0a-94cd-4b3e-8129-50c944e75a0b
