Corcentric blog

Back-office transformations can have a substantial effect on a company’s EBITDA by improving operation efficiencies, propelling cost savings, and increasing indirect revenue

Breaking up with a supplier is sometimes necessary, but it doesn't need to be difficult. Here are the 5 steps to follow to ensure a positive outcome

Procurement risk management, especially when it comes to assessing suppliers, is essential for organizations aiming to stay resilient amid ongoing supply chain disruptions.

Supplier portals are an excellent way to help make your accounts payable more efficient, secure, and strategic. By opening the door to unprecedented efficiency, portals address pervasive AP challenges while delivering multiple benefits.

The challenges of modern supplier management are real, but so are the opportunities. By embracing automation and integrating TIN/OFAC screenings into a comprehensive validation process, businesses can protect themselves from fraud, maintain compliance, and build stronger, more resilient supply chains.

Outdated accounts payable processes are more than just a bottleneck—they’re a liability, hindering growth and compromising supplier relationships. Corcentric offers a revolutionary approach to overcoming these challenges with its tailored AP and payments solutions

A good deal of thought and energy go into building an SRM program. Which is why too many smaller organizations fail to do so and are left wondering why their bigger competitors seem to have the cream of the crop when it comes to supplier resources. Like all relationships, organizations get out of their suppliers what they put in. Investing time and attention into SRM is the most reliable way to improve the output of your most important suppliers.

Shifting from traditional checks to digital payments like ACH and virtual cards offers businesses more efficiency, security, and cost savings. Checks, though simple, come with high costs and increased fraud risks. However, moving away from them requires proper supplier information management (SIM) to ensure accurate and secure payment processing.

An over-reliance on template-driven RFPs and apples-to-apples comparisons can stifle innovation and creativity in procurement, reinforcing the perception of procurement as mere RFP administrators and savings calculators.