Everest Group Names Corcentric a Major Contender on its PEAK Matrix® for Finance and Accounting Outsourcing Service Providers 2022
CHERRY HILL, NJ, December 13, 2022 – Corcentric, a leading global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and mid-market companies, announced today that Everest Group has recognized Corcentric as a Major Contender on its proprietary PEAK Matrix framework for assessing Finance and Accounting Outsourcing (FAO).
Everest Group named Corcentric a Major Contender due to its global reach and ability to service a multitude of industry segments. Corcentric has capabilities to address industry-specific problems with comprehensive digital solutions that solve the problems clients face daily.
According to a recent Corcentric and PYMNTS report, 87% of surveyed CFOs said they plan to invest in one or more areas of payments and finance digitization, and 94% already are doing so. Looking ahead, they said they are increasing investments in digitization for accounts payable to modernize processes and improve payment processes. In fact, 68% of firms surveyed that did not invest in accounts payable in the past now are or are planning to do so over the next two years.
“In response to economic challenges over the last several years, businesses increasingly are open to partnering with third-party service providers to automate and digitize accounts payable and the broader finance function,” said Matt Clark, President and Chief Operating Officer at Corcentric. “We’re grateful for Everest’s recognition of our work in payments and financial digitization, which our own research shows is what CFOs are embracing to reduce costs, improve processes, and drive business expansion and growth.”
Everest Group’s PEAK Matrix Assessment adopts a data-driven and fact-based approach leveraging vendor RFI responses and Everest Group’s proprietary databases. These results are validated and fine-tuned based on Everest Group’s market experience, buyer interaction, and provider/vendor briefings. Corcentric’s strengths in delivering value to clients based on customer feedback and transformational impact, its delivery footprint, and global sourcing capabilities were key highlights in the report.
“Corcentric is a specialist provider that offers unique, integrated O2C and S2P solutions leveraging its advisory and consulting services, technology solutions, and managed services capabilities. One of its key differentiators is its ability to deliver guaranteed Days Sales Outstanding (DSO) reduction through flexible engagement models and outcome-based pricing constructs,” said Vignesh Kannan, Practice Director, Everest Group. “It has maintained its position as a Major Contender in Everest Group’s Finance and Accounting Outsourcing (FAO) Services PEAK Matrix® Assessment 2022 and continues to invest in its suite of proprietary tools, which is reflected in its high client satisfaction ratings of digital and domain capabilities.”
Learn more about why Corcentric is a Major Contender in Everest Group’s PEAK Matrix report here.
Corcentric is a leading global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and mid-market companies. Corcentric delivers S2P and O2C focused software, payment solutions, advisory and managed services that reduce costs, optimize working capital, and maximize revenue. To learn more, please visit www.corcentric.com.
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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.