Let your team focus on the work of tomorrow, while we do the work of today
You want to elevate finance to a strategic function, where your team are freed up from constant hassles and complexity across your finance and procurement processes. With a dedicated team of experts, Corcentric Managed Services provides that structured simplicity for your business. Through a unique blend of managed services and award-winning technology, along with trade financing, we take the stress out of achieving your day-to-day responsibilities so you’re free to do what you do best: focus on projects with high strategic value.
Managed Accounts Receivable (AR)
Transform your AR process with experts, technology, and financing that reduces DSO, mitigates risks, and frees trapped working capital, to deliver guaranteed outcomes.
Managed Accounts Payable (AP)
Managed AP experts streamline workflows from invoice receipt to PO matching, optimizing processes, enhancing efficiency, and providing real-time visibility into your AP.
ManagedPayments
Optimize DPO, unlock cash flow, and fuel growth. We streamline the PO-to-payment cycle, saving time, enhancing efficiency, and strengthening supplier and customer relationships.
Managed FraudProtection
We fortify your accounts payable processes, proactively preventing payment fraud and ensuring secure transactions. Our experts safeguard your financial operations and enhance compliance.
ManagedSourcing
Ensure reliable supply and on-time delivery. With 20+ years of expertise, we help secure preferred supplier agreements, increasing spend under management, reducing costs, and driving immediate business results.
ManagedProcurement
Our procurement experts handle P2P tasks, freeing your team to focus on value creation. We streamline operations, manage suppliers, and deliver analytics to unlock savings and working capital for growth.
Control your accounting lifecycle with our managed service solutions
By leveraging our team of experts, you can achieve cost savings and free up your team to work on more strategic, value-add tasks.
“There’s Corcentric and our clients, and then each client’s community of buyers and sellers, so there are four entities involved in any transaction. Functioning as a true partner means caring about each of these individuals, and that’s what facilitates success.”
Amanda Fallows
MANAGER, COMMUNITY PROGRAMS • CUSTOMER SUCCESS
Customer Story
"With Corcentric, it's been a partnership every step of the way."
Robert Mcilvaine, Chief Technology Officer, Aurora Parts
Aurora Parts talks Managed Accounts Receivable with Corcentric
Benefits of Corcentric Managed Services Solutions
Cash flow confidence
Through service level agreements, non-recourse agreements and trade finance, we support your business by removing the burden of risk.
Scalability
Leverage Managed Services for as many business processes as you need — with flexibility built in, we grow and expand as you do.
One partner
We simplify all your business needs in one place — Managed Services, technology, and trade finance.
Managed Services FAQs
Managed Services refers to the practice of outsourcing or augmenting your team within certain business functions to a partner who assumes responsibility for managing and executing those functions on behalf of your organization. These services can cover a wide range of activities, ranging from IT to finance to accounting. This approach is intended to improve efficiency, reduce costs, and enhance overall performance while allowing you to focus on your core business activities.
Getting started with Managed Services is simple. Our Advisory team brings decades of experience to evaluate your existing processes so that we can recommend the right services to optimize your business. These services can include everything from system design and implementation to ongoing maintenance and support. We manage integration with your existing systems (without the IT headache) and rapidly deliver the service you require. Corcentric picks up the scalability and financial risk, and you retain full process visibility and control through dashboards, reporting, and service-level agreements.
Managed Services can offer several benefits to your organization. Partnering with a Managed Services provider allows your organization to focus on their core business activities or strategic initiatives, while the provider takes care of the repetitive and manual activities. Additionally, Managed Services can provide access to specialized skills and expertise that may be difficult or expensive to develop in-house or challenging to recruit for in a challenging labor market. Think of it as an augmentation or extension to your current team to scale and grow your business.
The main difference between Managed Services and Business Process Outsourcing (BPO) is that Managed Services focuses on specific functional areas or services, whereas a BPO involves outsourcing entire business processes, such as finance and accounting, human resources, or customer service. A BPO does not have trade finance and will typically use a software solution from another third-party, further complicating the effectiveness of the outsourcing activities.
Through Managed Services, we partner with you to implement scalable solutions without costly and resource-intensive technology administration. One of the key advantages of Managed Services over software is that we provide a more personalized and customized approach to managing business functions. While software can be powerful and feature-rich, it often requires significant customization and integration efforts to meet the unique needs of an organization. We effectively manage these services for you and provide the technology needed to remove the burden and risk associated with implementing a point solution, while delivering measurable ROI.
Find out what our unique combination of people, technology and finance can do for you.
Resources
Our latest insights
REPORT
Investing in Payments Systems for the Digital Economy
In an uncertain economy, CFOs are making technology investments that are crucial for long-term success.
PODCAST
How managed services optimizes P2P
A discussion on how managed services can optimize procure-to-pay processes — and many others, too.
white paper
Shortening the Cash Conversion Cycle
Whether you are a buyer or supplier, learn how managed services can help you free up working capital.