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Corcentric is a leader in cloud-based financial process automation solutions including accounts payable and accounts receivable, e-invoicing, credit and collections management, working capital management, and business intelligence.  These solutions are delivered through two products:  CorConnect, our accounts receivable platform; and COR360, our accounts payable platform.

Our CorConnect solution tackles complexity in multi-enterprise commerce by removing the cost, friction, and risk out of doing business in a complex B2B ecosystem. We do this by digitizing transactions across the network and enabling companies to streamline, automate, and manage transaction processes including e-invoicing, accounts payable and accounts receivable, collections, order management, credit risk management, reporting, and payments.

Our COR360 accounts payable workflow software is a configurable, SaaS solution that enables companies to automate their accounts payable processes with e-invoicing, three way matching, automated invoice processing, ERP integration, and payments.

Corcentric is headquartered in Washington, D.C., with offices in Philadelphia, PA, Chicago, IL, New York, NY, Fort Lauderdale, FL, Atlanta, GA and Naples, FL.

Corcentric was founded in 1998

More than 2,000 companies are using Corcentric solutions to automate their business commerce needs.

P2P is the abbreviation for Procure-to-Pay. This follows the complete process from the purchase of goods by a buyer to the payment received by the supplier.

O2C is the abbreviation for Order-to-Cash.  This is a set of business processes that involve receiving and fulfilling customer requests for goods or services.

E-invoicing or electronic invoicing is the exchange of the invoice document between a supplier and a buyer in an integrated electronic format like Electronic Data Interchange (EDI) or XML formats.  On the contrary, an e-invoice is not an email, pdf, or fax version of the invoice.  An e-invoice should contain data from the supplier in a format that can be integrated into the buyer’s Account Payable (AP) automation system without requiring any data input from the buyer’s AP administrator.

A closed-loop network is a complex private commerce network with many suppliers, dealers, distributors and purchasers – such as a National Account model, or a GPO purchasing from many suppliers on behalf of many buyers.

The Corcentric Supplier Network (CSN) connects Corcentric customers with their suppliers for electronic business collaboration. The Supplier Network provides a centralized network to deliver electronic invoices from suppliers to your Accounts Payable Systems. Included in the Supplier Network is a Supplier Portal which provides electronic purchase order and invoice information including payment status.

All access on the Corcentric Supplier Portal uses HTTPS (Secure Hypertext Transfer Protocol), which is the standard for secure Internet communication. HTTPS uses SSL (Secure Socket Layer), which incorporates RSA’s highly regarded encryption system.  Supplier security only allows access to the suppliers own invoices.

ZeroTouch processing allows companies to be paperless on day one through the use of an Invoice Virtualization Center and Corcentric Supplier Network. Your suppliers send invoices to a PO Box managed by Corcentric. Then, paper invoices are converted to electronic ones through scanning and OCR capture in the Invoice Virtualization Center. Electronic invoices are then transmitted through the Corcentric Supplier Network. Through both processes, companies never have to touch a paper invoice again.

Straight Through Processing (STP) is the ability to match invoices to PO’s and receipt of goods without AP processor involvement. Invoices, after being converted to electronic, are matched to electronic PO and receipt data using business rule algorithms configured to your company’s processes. The straight through processing rules are configured using the same logic your AP processors are using in your invoice matching process. When the STP rules are met, the invoices are automatically matched in COR360 before being interfaced to your ERP or AP system for final matching, all without AP processors needing to do any work.

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