A Conversation with Corcentric’s Executive Vice President and CFO, Mark Joyce, and North American Order-to-Cash Practice Lead, Jeffrey Grosman
Given the complexities all companies have faced in 2020, there are two common goals that, while simple, are top of mind regardless of industry or size: 1. To have cash flow, and 2. to have predictable cash flow. Fortunately, an improved order-to-cash (O2C) cycle can address both by improving alignment with contracts and remaining compliant with payment terms.
One quantifiable example of how O2C management affects the business is in their days sales outstanding (DSO) performance. When collections are made sooner, companies can borrow less and pay less interest, and make strategic decisions about how to leverage those additional resources.
In this Corcentric Conversation, Mark Joyce, Executive Vice President and Chief Financial Officer of Corcentric, and Jeffrey Grosman, Corcentric’s O2C Practice Lead for North America, joined us to discuss the impact that guaranteed O2C business outcomes can have on company performance as a whole and CFO priorities more specifically:
- Bringing an end to “DSO creep” by making outstanding payments more visible and easier to manage
- Managing the receivable risk exposure on individual accounts
- Opportunistically use available cash flow to consider acquisitions or reinvest in the business
Thank you for listening. Be sure to tune in to our next Corcentric Conversation. Until next time!
About our Guests:
Mark Joyce is the Executive Vice President and Chief Financial Officer of Corcentric. He sets the financial, corporate development, investor relations and human resources goals for the company of 500+ employees. Mark is also responsible for Corcentric’s global business strategy that has generated substantial company growth. In 2020, he led the company’s efforts securing a significant minority growth equity 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.
Jeffrey Grosman is Corcentric’s Order-to-Cash (O2C) Practice Lead for North America. He is a seasoned executive with over two decades of experience in marketing, management, branding and operations across a wide spectrum of enterprise and consumer-oriented businesses, he has held senior roles in marketing, product management and operations at MCI Telecommunications, Network Solutions, Youbet.com, and Determine, Inc.