Press Release

Corcentric Procures New Payments Partnership with Manufacturing Multinational ProMach

CHERRY HILL, NJ, Sept. 20, 2022—Corcentric, a leading global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and middle-market companies, announced today its partnership with ProMach, a worldwide leader in packaging and processing machinery solutions, to provide its Corcentric Payments suite of payments digitization services.

“Corcentric is passionate about providing finance teams with a comprehensive solution, including digital payments, fraud prevention, and supplier management,” said Executive Vice President of Corcentric Payments Chris Mashburn. “We’re excited to partner with ProMach as they transform their payment processes to provide their suppliers a more streamlined experience.”

Payments digitization allows businesses to pay bills online, eliminating physical checks or cash—lowering processing costs, adding cash flow visibility, and reducing errors from manual processes. According to a PYMNTS.com and Corcentric report, 71% of CFOs surveyed at firms generating between $400 million and $2 billion in annual revenue say they have accelerated their digitation efforts since March 2020. Of those, 38% said they have done so with the goal of improving their balance sheets. The research shows that payments process digitization has generated other benefits as well, including strengthening working capital management and improving efforts to combat payment fraud.

“ProMach strives to deliver consistent, high-performance, industry-leading processing and packaging solutions from our various business lines to our entire customer base,” said Kevin Carroll, Vice President of Corporate Finance at ProMach. “Implementing the Corcentric Payments solution helps us deliver the same level of performance to our highly valued suppliers through a proven, innovative, and secure payment platform.”

Corcentric Payments optimizes electronic payments through people, process, and platform innovation. Through its PayNet platform, a safe, secure, bank-agnostic platform supporting all payment types, suppliers receive payment and remittance information. Its StopFraudTM 12-point verification process validates payment details and attributes to secure customers’ and suppliers’ data and protect from potential fraud. These services and more are managed by experienced customer success teams delivering active payments program management.

About Corcentric

Corcentric is a leading global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and middle-market companies. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit www.corcentric.com.

About ProMach

ProMach is a family of best-in-class packaging and processing solution brands serving manufacturers of all sizes and geographies in the food, beverage, pharmaceutical, personal care, and household and industrial goods industries. ProMach brands operate across the entire production line: filling, bottling and capping, decorative labeling, flexibles and trays, pharma, handling and sterilizing, labeling and coding, and robotics and end of line. ProMach also provides systems and integration including turnkey solutions, design/build, engineering services, and productivity software to optimize production line design and deliver maximum uptime.

ProMach designs, manufactures, integrates, and supports the most sophisticated and advanced packaging and processing solutions in the global marketplace. Its diverse customer base, from Fortune 500 companies to smaller, privately-held businesses worldwide, depends on reliable, flexible, technologically advanced equipment and integrated solutions. ProMach is headquartered near Cincinnati, Ohio, with manufacturing facilities and offices throughout North America, Europe, South America, and Asia. For more information about ProMach, visit www.ProMachBuilt.com and for more information on ProMach Careers, visit www.ProMachCareers.com.

Media Contact for Corcentric:

Stacy Bronstein
Director of Communications
sbronstein@corcentric.com
(267) 807-0164

Media Relations
Stacy Bronstein
(267) 807-0164
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About Corcentric

Corcentric is a leading global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and middle-market companies. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit corcentric.com.

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