It’s Been a Great Year for Corcentric. Thank You to All Who Made It Possible
This is the time of year when we all gather with family and friends to celebrate the holidays and welcome the New Year. Before I leave to spend the holidays with my family and friends, I wanted to take this opportunity to thank all of our employees, customers, and suppliers for making 2018 a fabulous year for Corcentric.
There is an old adage that begins, “success has many fathers,” and in the case of this year at Corcentric, that is absolutely true. We have been so fortunate in 2018, and the credit for that goes to so many people who have contributed a huge amount of their time and effort to bring it to fruition.
I’ve always been so proud of our Corcentric team…their dedication to the company and to our core values to “Do the right thing,” “Be empowered,” and to “Embrace and drive change.” This year has put all our employees to the test and they’ve all come through with flying colors. Here are just a few of the accomplishments we’ve made:
Brand unification –We unified our Corcentric and AmeriQuest Business Services brands under the Corcentric name. We were able to consolidate our message of connecting transaction processes, financial processes, and procurement processes under a single banner, making us a “one-stop shop” offering a suite of solutions to our customers. This required a new look, new website, new collateral materials and new messaging that was consistent throughout the company. That message: Corcentric optimizes how customers purchase, pay, and get paid. This huge initiative was made possible through the hard work of many, many people.
Acquisition of Source One Management Services – Source One is a leading tech-enabled procurement service provider that we acquired in May. This acquisition enables us to use Source One’s strategic sourcing expertise to optimize our customers’ sourcing capabilities. Customers can now use Corcentric to fulfill their entire source-to-settle cycle.
Tremendous improvements in our products and services – In addition to the additional services realized by the Source One acquisition above, we also developed a more robust Payments solution, advanced our Supply Chain Finance offerings, increased our Indirect Spend program offerings, and expanded our Capital Equipment solutions.
Secured a $200 million credit facility – This credit facility, secured from Bank of America, JP Morgan Chase, and TCW Asset Management Company, LLC, will be used to support future growth, both organically and through acquisitions.
200 new customers added to our roster – Of course, the goal of everything above is to grow our business and that we’ve definitely managed to do as is evidenced by the new customers we’ve added. We are grateful for their business and welcome them; but that hasn’t taken our attention away from our existing customers, those who have been with us for years. The improvements and changes we’ve made will benefit them as well…and we couldn’t be happier about that.
We also want to thank the thousands of suppliers who have partnered with us throughout the years to offer Corcentric customers great products and services at great prices. You have all played a major role in our success.
We wish all of you and your families the happiest of holidays and a happy and healthy 2019.