Corcentric Names Tom Spencer as Senior Vice President and Head of Accounts Payable Solutions

CHERRY HILL, N.J., Nov. 20, 2023 – Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced today that Tom Spencer has been appointed as senior vice president and head of the Accounts Payable (AP) Solutions sales division. A payments veteran, Spencer brings deep industry knowledge and experience to guide this critical area of the Corcentric sales team.

“Tom has a wealth of experience in and understanding of the AP and payments space and customer needs,” said Fredrick “Fritz” Smith, chief revenue officer at Corcentric. “His track record of substantially growing revenue at multiple companies is second to none within the industry. We look forward to his leadership in guiding these vital areas of our Corcentric sales initiatives.”

Spencer’s experience includes senior leadership roles with Intuit and AvidXchange, the latter of which where he spent nine years leading substantial revenue growth.

“I’m thrilled to join Corcentric to help drive revenue growth to the next level for the organization,” said Spencer. “Success always comes from helping customers with their end-to-end business processes. Corcentric offers financial choice regarding timing of payments that enables customers to optimize their working capital and solve their strategic priorities.”

Corcentric’s AP Solution combines technology, financing, and managed services teams, to guarantee several business outcomes and transform a customer’s AP lifecycle into a fast and frictionless process. This enables businesses to unlock cash flow by automating and digitizing every step of the purchase-to-payment lifecycle and identifying days payable outstanding (DPO) adjustments that put money back into a customer’s business to fuel growth. From invoice receipt to approval routing to PO and receipt of goods matching, Corcentric helps customers reduce costs, increase accuracy, and provides real-time visibility into invoice and expense status.