Corcentric Strengths, Domain Expertise, and Key Differentiators
Corcentric is a provider of procurement and finance solutions that transform how companies purchase, pay, and get paid. Corcentric's procurement accounts payable and accounts receivable solutions empower companies to spend smarter, optimize cash flow, and drive profitability.
Corcentric Recent Developments
In April 2021, Corcentric chose Wolters Kluwer’s eOriginal® solution to help offer compliant, end-to-end electronic equipment lease finance transactions. eOriginal, acquired by Wolters Kluwer’s Governance, Risk and Compliance division in December 2020, provides purpose-built digital lending solutions. eOriginal solutions include electronic signatures, collateral authentication and an electronic vault. The eOriginal suite of services will support the creation, execution and security of electronic equipment lease finance transactions, making a historically cumbersome process simple and secure for Corcentric customers.
In May 2020, Corcentric received investment from New York-based private equity firm, Bregal Sagemount. The $80 million capital raise will support Corcentric’s product innovation and solution integration efforts as the company continues its global expansion; helping businesses reduce costs and spend more efficiently.
Corcentric Mergers and Acquisitions (M&A) Activities
In February 2021, Corcentric acquired Vendorin from Juvo Technologies for a purchase price of $100 million. Other financial terms were not disclosed, and the acquisition was financed with cash on hand following Bregal Sagemount’s investment in May 2020.
In April 2019 Concentric acquired Determine Inc.(global Source-to-Pay and Enterprise Contract Lifecycle Management solutions). The sale was approved by the Board of Directors of both companies, and Determine’s stockholders, and completed as an all-cash transaction for $32 million. The acquisition enabled Corcentric to become the only solution provider with an end-to-end solution suite for both Source-to-Pay and Order-to-Cash delivered through consulting, technology, services, and an ability to optimize B2B payment flows.
In February 2019 Concentric acquired Netsend Ltd (Headquartered in London, Netsend offers electronic billing, invoicing, and document distribution services to the FTSE 100 and global blue-chip companies in over 50 different countries) The acquisition marks Corcentric's expansion into the global e-billing market as a SaaS provider.
In May 2018 Corcentric acquired Source One Management Services, LLC (tech-enabled procurement services provider delivering cost reduction and savings through strategic sourcing and procurement transformation) Corcentric is adding their sourcing and procurement expertise to his portfolio of procure-to-pay solutions.
Corcentric Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Corcentric applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Corcentric and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Corcentric Platform customers.
Ownership: - x
Number of Employees: 500
Functional Markets: ERP Financial, Procurement,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K389, Higher Education, Federal Government, State and Local Government, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Manufacturing, Media, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Corcentric Key Enterprise and Cloud Applications
Corcentric Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Corcentric Revenue Breakdown By Type, $M:
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Corcentric Enterprise Applications Revenues By Functional Markets, $M:
Corcentric Enterprise Applications Revenues By Verticals, $M:
Corcentric Revenues By Region, $M
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Corcentric Direct vs Indirect sales
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Corcentric Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Corcentric Customers
No. of Corcentric Customers: 6000
No. of Corcentric Enterprise Applications Customers: 6000
No. of Corcentric Cloud Customers: x
No. of Corcentric Cloud Subscribers: x
UNIVI, a French national healthcare and social association player, has implemented Corcentric’s Procure-to-Pay solution. Created in 2019 by the Supplementary Retirement Institutions of the Malakoff Humanis, Klésia, Apicil, AG2R La Mondiale and B2V Groups, UNIVI welcomes, accommodates and treats people made vulnerable by age, disease or disability in its geriatric hospitals, independent residences, service residences, EHPAD and accommodation and service homes for disabled people. With the creation of the Procurement department, the UNIVI Group wanted to define, optimize and digitize its processes.
Mr. Bricolage, a leading specialist in DIY retail in France, has implemented Corcentric’s modular SaaS Procurement Solution. Over the past four years, the Mr. Bricolage Group has been growing to become a leader in the home and garden DIY space, and is targeting to have 1000 retail outlets by 2028. To enable this growth, Mr. Bricolage Group has digitized its procure-to-pay processes to better support the development and performance of its network of stores by implementing the Corcentric Procurement Solution.
Corcentric has 6000 customers some of them are Dalmer, DOT, LAWSON Products, UMRH, and others.
Corcentric Market Opportunities, M&A and Geo Expansions
Corcentric announced three appointments to the leadership team. Ed Benack has been appointed Chief Customer Officer, Manish Jaiswal as Chief Product Officer, and Brent Kinman as Senior Vice President of North American Sales.
Corcentric announced the expansion of its Global Alliance Partner Program. Through the program, Corcentric provides its clients with a network of third-party software and services, while enabling strategic partners with Corcentric’s industry-leading solutions in procurement, accounts payable automation, integrated payments, fleet procurement, indirect and fleet group purchasing organization (GPO), and managed accounts receivable solutions to grow and expand their businesses. The announcement was given by Sean Regan in April 2021.
In March 2020, Corcentric launched the Global Alliance Program the new partner program increases access to source-to-pay and order-to-cash solutions for global companies. The Corcentric Global Alliances Program is open to private equity, advisory, system integrator, technology, and reseller partners.
Corcentric Risks and Challenges
In January 2021, Corcentric completed the rebranding of source-to-pay software provider, Determine, e-billing provider Netsend, and strategic sourcing services provider Source One, under the Corcentric name. The new Corcentric is a combination of software, advisory services, and payments to reduce operating costs and unlock new potential within enterprises. The unification is the culmination of a multi-year effort that combined organic business growth with targeted acquisitions to expand globally, reach new industries and become end-to-end provider of procurement, accounts payable, and accounts receivable solutions. By acquiring Source One, Netsend, and Determine, Corcentric added significant and complementary capabilities to broaden the depth of offerings and expertise, as well as develop new software solutions in the areas of e-billing, source-to-pay, enterprise contract lifecycle management, procurement, and financial process automation
In March 2018, AmeriQuest and Corcentric Announce Unification of Brand Identity.
Corcentric Ecosystem, Partners, Resellers and SI
In April 2021, Corcentric signed a strategic partnership with supplier risk and compliance provider, Beroe. The integration of Beroe Know Your Supplier (KYS) with the Corcentric Platform offers Corcentric customers an essential and unique opportunity to easily link supplier profiles with leading third-party risk data providers by removing the need to strike individual agreements. Beroe’s KYS provides Corcentric Supplier Management customers information from the leading providers of supplier risk data including financial, reputational, sustainability, and cyber risk information.
Some of Corcentric partners are HBR Consulting, Flyxum, DocuSign, Commerce Bank, and others.
In February 2019 Corcentric Relocates Headquarters in Cherry Hill, NJ, to Accommodate Rapid Growth.
In December 2018 Corcentric Expands Partnership with Conversion Technologies International (full-service document and image conversion center). The relationship marks the continued integration of Corcentric’s solution with CTI as a way to provide customers with smarter technology that optimizes the invoice-to-payment process.
Corcentric Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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