MONITOR DAILY: Frank Bussone, CTP, Vice President of Data Science and Analytics, Capital Equipment Solutions at Corcentric, explains why leasing allows fleets to maximize their investments in technology and avoid technological and economic obsolescence by positioning them to be nimble in the market.
FLEET OWNER: Bill McCouch, Senior VP of Procurement at Corcentric, discusses a study from the Hackett Group that found that 84 percent of a group it surveyed believe that the digitalization of the procurement process is the next step for their businesses. McCouch offers five areas to consider in order to determine if your business is ready to go digital.
PYMNTS: PYMNTS’ new Payables Friction Index, a collaboration with Corcentric, surveyed executives at 2,570 firms and scored accounts payable (AP) processes on a scale of 0 to 100, based on performance in onboarding, receipt, approval, and payment. The average index score among our survey’s firms was 57.3 out of 100.
TECH HR: North American organizations generally fall behind their international counterparts in back-office digitization, primarily due to differences in tax structure and the amount of regulation regarding accounts payable automation, according to “2019 Payables Insight Report,” from Corcentric, a leading provider of procurement and financial process automation solutions, and Levvel Research. “ Despite the challenges for many organizations in North America, P2P automation stands out as an incredible opportunity for the C-level executive to implement transformative strategies,” noted Matt Clark, President and COO of Corcentric.
CPO RISING: The acquisition of Determine Inc. by Corcentric enables the combined organization to provide a holistic and broad set of capabilities encompassing strategic sourcing and procurement consulting, a unified cloud platform for source-to-pay and contract lifecycle management, and comprehensive payment and financing solutions to improve working capital.
MARKET SCREENER: Determine begins a new chapter as a Corcentric company, and notes that they provide a truly holistic portfolio of products and services across the entire source-to-pay continuum, as well as detail about Gérard Dahan, CMO and SVP EMEA for Determine, a Corcentric company, who recently gave a keynote speech at Matinale Digital Achats 2019 (a procurement event in Paris), where he shared his vision of what the capabilities and key performance indicators will be for future buyers.
SPEND MATTERS: A Q&A with Corcentric President and COO Matt Clark in which he discusses the company’s move from the Provider to Watch to the Provider to Know list, biggest lessons learned, best features and services, and the future of source-to-pay.
NJBIZ: Corcentric Founder, Chairman, and CEO is a winner of the NJBIZ Digi-Tech Innovators Award Competition. He was recognized with other executives who represent pioneers from New Jersey who have, and are, introducing significant advances in the technological and digital space at their organizations, thus enhancing the overall productivity and performance of their companies.
FLEET OWNER: Bill McCouch, Corcentric Senior Vice President of Procurement, discusses if you want your accounting function to be one of your strategic differentiators, you need to make some changes, including collecting metrics, focus on being an agile operation, creating innovation with the financial supply chain.
THE PAYPERS: A discussion about how one of the US companies that saw an extensive line of M&A activity since 2019 debuted was Corcentric, through first securing a $200M credit facility, and acquiring both Netsend and Deterrmine, Inc.