Corcentric Acquires Vendorin to Monetize Supply Chain Transactions
Vendorin will enhance Corcentric’s payment and supply chain finance capabilities.
Corcentric acquired Vendorin from Juvo Technologies to help the company monetize transactions through payments, supply chain finance and group purchasing.
“We are in the midst of a broad secular shift from paper payments to electronic. The majority of this spend takes place in the enterprise where a large percent of their indirect spend still gets paid via paper check,” says Matt Clark, president and COO at Corcentric. “Incumbent solutions have not had the right incentive nor technology to disrupt this status quo until Vendorin, and we have been impressed with how sought after this solution has become. As part of Corcentric, Vendorin will greatly enhance our payment and supply chain finance capabilities that are a key piece of our turnkey suite of procurement, AP and AR solutions.”
- Vendorin is a high-growth B2B integrated payments network that makes it easy for buyers to enroll and pay their suppliers via any payment method.
- Leveraging Corcentric’s supplier network, there is a large opportunity to move payments to electronic forms and increase overall supplier acceptance.