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Corcentric Positioned in Latest IDC MarketScape ReportsCHERRY HILL, N.J., Feb. 23, 2021 /PRNewswire/ -- Corcentric, a leading provider of business spend management and revenue management software and services, has been recognized by the IDC MarketScape in the following reports:
Corcentric's technology solutions and adviory services support $320 billion of annual B2B commerce across more than 2,300 customers. The company recently consolidated Source One, Determine and Netsend under the Corcentric name, as well as made its largest acquisition – a $100 million purchase of B2B payments provider Vendorin from Juvo Technologies. "As a result of years of strong organic growth and strategic acquisitions, we've completed our vision of being the only end-to-end software, advisory services and payments solution to optimize procurement, accounts payable and accounts receivable," said Matt Clark, president and COO at Corcentric. "2021 will be a banner year for Corcentric and the businesses we work with as we continue to drive digital finance transformations with our unrivaled technology and advisory services." By integrating data and workflows across purchasing, suppliers, contracts, and finance, Corcentric is helping organizations streamline and transform procurement processes to save money, increase efficiency, reduce risk, and improve working capital to drive measurable, sustainable results. Despite many organizations temporarily closing or shifting to a remote workforce over the past 12 months, Corcentric Platform customers have been more digitally enabled and increased key metrics such as total spend on purchase orders (+3.6%), the value of invoices with a workflow status of booked or paid (+9.67%), total spend under management (+9.01%) and the total spend under contract (+9.5%). About the IDC MarketScape About Corcentric Contact: Andrew Jennings, [email protected]
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