Corcentric Managed Services
Effortless simplicity across finance and procurement – designed for you
Empowering you to drive value, growth, and results
You want business results, not constant hassles and complexity across your finance and procurement processes. With a dedicated team of experts, Corcentric Managed Services provides that structured simplicity. 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 focus on projects with high strategic value.
Corcentric Managed Services
Focused on you, your success, and your peace of mind
Managed Accounts Receivable (AR)
AR process transformation that pays for itself
Managed AR replaces bad debt, payment risks, high Days Sales Outstanding (DSO), and overworked teams with guaranteed business outcomes. We support your team with a combination of subject matter experts, financial services, and software that can liberate working capital trapped in your AR ledger — giving you the cash, and the peace of mind, you need to grow the business.
- Immediate DSO Reduction – Tell us when you want to get paid for every invoice and Corcentric will pay you in full — guaranteed.
- Eliminate Collections Risk – We’ll pay all your invoices on time, every time — no bad debt or credit risk. Plus, a non-recourse agreement ensures you’re never liable for late payments.
- Liberate Working Capital – The unlocked working capital in your AR ledger becomes cash on the balance sheet, ready to be used to improve liquidity and/or fund growth.
Managed Accounts Payable (AP)
Eliminate costly, time-consuming tasks and enhance your efficiency
Managed AP works as an extension of your back-office to optimize end-to-end AP workflows. From invoice receipt to approval routing to PO and Receipt of Goods matching, we’ll streamline your processes to reduce costs (and stress), increase accuracy, and give you real-time visibility into invoice and expense status.
- Frictionless – Straight-through processing and three-way matching speeds invoices right to your ERP or accounting system for accurate and timely payment.
- Stress Relief – Process automation reduces manual errors and delays (and frustration) and the cost of managing them.
- Unique to You – Configures to your business needs and goals.
You’re only as good as your suppliers; we’ll find you
In challenging times, it’s critical to have preferred suppliers to ensure a trusted source of goods and on-time delivery. With 20+ years of experience, we’ll help your team put preferred and pre-negotiated supplier agreements in place for your top categories, enabling increased spend under management, cost reduction, accelerated time to value, and immediate business results.
- Power Source – Keep your business operating smoothly with a supply of goods and services with a roster of trusted, preferred suppliers.
- Instant Savings – Our Group Purchasing Organization (GPO) Programs provide immediate cost savings through large group purchasing capabilities that are fast and simple.
- Eliminate Risk – Strategic sourcing produces vetted suppliers who deliver on promises, ensuring you get precisely what you need when you need it.
Streamline operations, generate savings, and
Managed Procurement frees your team to focus on value creation by taking on the burden of your day-to-day procure-to-pay (P2P) tasks, from tactical and strategic purchasing to supplier management. What’s more, we’ll provide the analytics that identify cost-saving opportunities and unlock working capital to grow your business.
- Simplified Procurement – From procurement administration and purchasing to managing 3rd-party risk and one-off needs, our experienced team gets you out of the back office.
- Spend Control – You not only have access to our GPO for discounts on procured goods, but we also boost savings through spend control that eliminates maverick buying.
- No Guesswork – Consolidated bill payment makes it easy to understand and process payments from a multitude of suppliers.
Control your payment terms, unlock your cash flow
Managed Payments unlocks cash flow by finding Days Payable Outstanding (DPO) adjustments that will put money back into your business to fuel growth. We help transform your payments into a fast and frictionless process by accelerating every step of the PO-to-payment cycle. This not only saves you time and effort, it helps build stronger supplier and customer relationships, mitigates fraudulent payments, and increases efficiency.
- Flexibility Pay Off – We process single invoices or bulk imports, and handle any payment term, type, or situation (ACH, vCard, check, and early payment discounts).
- Easy Money – Unlock working capital by optimizing DPO and put that money right back into growing your business.
- Supplier Onboarding – We take a big burden off your plate by enrolling suppliers into the payment portal on your behalf and managing your frequent supplier relationships.
Managed Services FAQs
What are Managed Services?
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.
What is involved in the Managed Services offering?
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.
Why do we need Managed Services?
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.
What’s the difference between Managed Services and BPO?
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.
What are the advantages of Managed Services vs. software?
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.