Corcentric
Proven results. Built together.
Executive Summary
Corcentric is a global cloud-based software platform that provides end-to-end procurement and finance solutions, including Accounts Payable (AP), Accounts Receivable (AR), and Source-to-Pay (S2P) automation. It serves medium to large enterprises across various industries, aiming to optimize profitability by reducing costs, increasing efficiencies, and improving cash flow and financial visibility. The platform differentiates itself through a combination of advanced technology, AI-powered applications, managed services, and strategic advisory expertise.
Use Cases
- Automating Accounts Payable processes from invoice receipt to payment, including electronic invoicing and approval workflows.
- Streamlining the entire Source-to-Pay lifecycle, encompassing strategic sourcing, supplier management, contract management, procurement, and payments.
- Optimizing Accounts Receivable operations to accelerate cash flow, reduce Days Sales Outstanding (DSO), and minimize bad debt.
- Enhancing supplier relationships and management through self-service portals, improved communication, and performance tracking.
- Gaining real-time visibility and advanced analytics into spend data to identify cost-saving opportunities and improve forecasting.
- Preventing financial fraud and ensuring payment security through robust validation and verification frameworks.
Features
Visibility
- Real-time Invoice and Payment Status: Provides instant access to the status of invoices and payments for both internal AP teams and external suppliers through dedicated portals.
- 360-degree Spend View: Offers a comprehensive and holistic view of all spend data across various business functions, enabling deep insights and informed decision-making.
- Cash Flow and Working Capital Dashboards: Delivers real-time dashboards that provide critical visibility into an organization's cash flow and working capital across both accounts payable and accounts receivable.
- Supplier Performance Analytics: Includes powerful analytics tools to monitor and evaluate supplier performance against key performance indicators (KPIs), aiding in strategic supplier relationship management.
Intelligence
- AI-powered AP Automation: Digitizes 100% of invoices with high accuracy (up to 99.9%), automatically matches them to purchase orders and receipts, and intelligently routes exceptions for review.
- Gopher Intelligent Assistant: An AI-powered assistant utilizing Natural Language Processing (NLP) to provide quick access to key information and facilitate seamless collaboration across the organization.
- Automated Approval Workflows: Standardizes and automates approval processes for invoices and purchase orders, significantly reducing processing time and errors.
- Fraud Prevention (StopFraud™): A robust framework that employs layered validation, advanced security features, and human oversight to verify suppliers, secure payment data, and prevent financial fraud.
Support
- Dedicated Strategic Advisors: Access to a team of experienced sourcing, procurement, and payments experts who provide guidance and support for process optimization.
- Managed Services: Augments or outsources specific business functions like Accounts Receivable, Accounts Payable, Sourcing, Procurement, and Payments, freeing up internal teams.
- Comprehensive User Training: Provides thorough training sessions for users on how to effectively utilize the system, access documents, configure settings, and troubleshoot common issues.
- Extensive Resource Library: Offers a vast collection of thought leadership content, white papers, case studies, videos, and practical guides to help users optimize their processes.
Technical Specifications
- Architecture
- Cloud-native SaaS
- Deployment
- Cloud/SaaS
- Authentication
- SSO, MFA
- API Available
- Yes
- MCP Server
- No
AI/ML Stack
- NLP
- Machine Learning
Integrations
- SAP
- Oracle
- NetSuite
- Microsoft Dynamics
- Workday
Security & Compliance
Certifications: SOC 2 Type II, GDPR
Encryption: AES-256 at rest, TLS 1.2+ in transit (inferred for secure payment data and enterprise SaaS)
Data Residency: Cloud-based
Pricing
- Model
- Subscription
- Starting Price
- Contact sales
- Target Customer
- Mid-market to Enterprise
- Contract Type
- Annual
- Free Trial
- No (credit card required)
About Corcentric
Corcentric is a global provider of procurement and finance solutions, offering automation of accounts payable and receivable, management of procurement processes, and strategic advisory services to optimize financial operations.