Corcentric Acquires Determine
Finance Transformation Experts Acquire Source-to-Pay Provider. Corcentric to Offer True End-to-End Spend Management Thanks to Determine Acquisition.
Willow Grove, PA, May 7, 2019 – Corcentric, a leading provider of Finance and Procurement optimization solutions, has finalized its acquisition of Determine, Inc. For approximately $32 million, Corcentric will absorb all of the Source-to-Pay and Enterprise Contract Lifecycle Management solution provider’s assets.
Experts have long recognized Determine as a leading provider of solutions aimed at empowering the Procurement function. The mission is to deliver world-class cloud tools that provide heightened visibility and boost the ROI organizations can generate from their spend and supplier data. Currently, they serve more than 200 global customers across industries including Manufacturing, Insurance, and Pharmaceuticals.
As a combined entity, Corcentric and Determine’s entire Finance optimization team looks forward to immediate and long-term value. Most notably, the acquisition will empower Corcentric to build a one-stop shop for spend management services. With access to the full spectrum of Procure-to-Pay (P2P) solutions, they will refine their service offering and continue delivering the best possible outcomes to clients and prospects.
“Acquiring Determine will mean greater opportunity to generate value and optimize the entire purchasing process,” says William Dorn, VP of Operations at Source One, a Corcentric company. “When Corcentric acquired Source One, our combined resources immediately provided for greater value generation. We’re all looking forward to accessing Determine’s solutions and expertise to serve customers even more effectively.”
Purchasing Determine promises to fully transform both Corcentric’s approach to the purchasing cycle and the results it can generate alongside clients. Providing a truly holistic spend management solution, they’ll drive the purchasing function into yet another new strategic era.
Corcentric is a global provider of business spend management and revenue management software and services for mid-market and Fortune 1000 businesses. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit corcentric.com.