Corcentric, a leading provider of business spend management and revenue management software and services, has been recognized as a Supplier E-Invoicing Vendor named in the Procurement Vendors and APIA Vendors categories of the Gartner Competitive Landscape: Supplier E-Invoicing Software, 2020 report. The report states, "Gartner defines supplier e-invoicing as the set of business processes required to receive, validate and archive B2B invoices received from suppliers in an electronic format."
"We're seeing an increasing number of businesses of all sizes shift their accounts payable processes toward e-invoicing solutions this year," said Matt Clark, president and chief operating officer, Corcentric. "COVID-19 has exposed finance teams to the bottlenecks that paper-based invoices create, highlighting opportunities for fraud, time lost and payment term issues. We look forward to continuing our work educating companies on how e-invoicing solutions cut invoice processing time, ensure data accuracy and foster supplier loyalty."
Corcentric's e-invoicing technology enhanced through financing services and global partners helps create a turn-key solution for fully digitizing invoices straight through to approval, payment and reconciliation into an ERP and other financial accounting systems, while reducing friction with suppliers and improving invoice compliance. With Corcentric, best-in-class accounts AP departments are realizing cost savings of up to 82% per invoice and have cut the time to process an invoice by more than 70%.
Corcentric's combined solutions supports almost $500 billion of annual B2B commerce across more than 2,000 customers in manufacturing, transportation, wholesale/distribution, retail, healthcare, and financial services end markets.
1Gartner, "Competitive Landscape: Supplier E-Invoicing Software, 2020," Balaji Abbabatulla, Kaitlynn Sommers, Micky Keck, 20 July 2020
About Corcentric
Corcentric is a global provider of market-leading source-to-pay, order-to-cash, and fleet solutions. From the mid-market to Fortune 1000 businesses, Corcentric delivers technology, managed services, and strategic advisory focused on reducing costs, optimizing working capital, and unlocking revenue. Corcentric was named a 2020 '50 Providers to Know' by Spend Matters and a leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation 2019.
