Corcentric Recognized on Annual Inc. 5000 List for Tenth Time
Business spend management and revenue optimization company achieves three-year revenue growth of 85 percent
Cherry Hill, NJ – August 18, 2020 – Inc. magazine revealed Corcentric is No. 4,105 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent businesses.
This marks the 10th year Corcentric has made the annual Inc. 5000 list and first time since 2015. The recognition comes on the heels of a major period of growth for the company driven by recent acquisitions of SourceOne, Determine and Netsend, as well as a strategic investment round from private equity firm Bregal Sagemount, to support global expansion efforts.
“It’s always an honor to be recognized on the Inc. 5000 list,” commented Matt Clark, president and COO at Corcentric. “The investments we’ve made in our team and areas of expertise in recent years has paid immense dividends. It’s apparent now more than ever why businesses need a comprehensive suite of solutions to manage their sourcing, procurement, accounts payable, and accounts receivable.”
Corcentric supports almost $500 billion of annual B2B commerce across more than 2,000 customers in manufacturing, transportation, wholesale/distribution, retail, healthcare, and financial services end markets.
Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists as well. The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000’s aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the past three years.
“The companies on this year’s Inc. 5000 come from nearly every realm of business,” says Inc. editor-in-chief Scott Omelianuk. “From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism.”
Corcentric is a leading provider of source-to-pay and order-to-cash solutions for businesses in the United States and Europe. Corcentric’s procurement, accounts payable, and accounts receivable solutions empower companies to spend smarter, optimize cash flow, and drive profitability. Corcentric was named a 2019 ‘50 Providers to Know’ by Spend Matters and a leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation 2019. Since 1996, more than 6,000 customers from the middle market to the Fortune 1000 have used Corcentric to reduce costs and improve working capital. Learn more at corcentric.com.