Corcentric Positioned in Latest IDC MarketScape Reports
Recognized as a Major Player in Procurement, Procure-to-Pay Applications and a Leader in Supplier Relationship Management, Buy-Side Contract Life-Cycle Management, Spend Analysis and Management, and Sourcing Applications
Cherry Hill, NJ, February 23, 2021 — Corcentric, a leading provider of business spend management and revenue management software and services, has been recognized by the IDC MarketScape in the following reports:
- A Major Player in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Procurement Applications 2021 Vendor Assessment (Doc US45015719, February 2021)
- A Major Player in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Procure-to-Pay Applications 2021 Vendor Assessment (Doc US45015519, February 2021)
- A Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Supplier Relationship Management Applications 2021 Vendor Assessment (Doc US45015919, February 2021)
- A Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Buy-Side Contract Life-Cycle Management Applications 2021 Vendor Assessment (Doc US45016019, February 2021)
- A Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Spend Analysis and Management Applications 2021 Vendor Assessment (Doc US45015319, February 2021)
- A Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sourcing Applications 2021 Vendor Assessment (Doc US45015419, February 2021)
Corcentric’s technology solutions and advisory services support $320 billion of annual B2B commerce across more than 2,300 customers. The company recently consolidated Source One, Determine and Netsend under the Corcentric name, as well as made its largest acquisition – a $100 million purchase of B2B payments provider Vendorin from Juvo Technologies.
“As a result of years of strong organic growth and strategic acquisitions, we’ve completed our vision of being the only end-to-end software, advisory services and payments solution to optimize procurement, accounts payable and accounts receivable,” said Matt Clark, president and COO at Corcentric. “2021 will be a banner year for Corcentric and the businesses we work with as we continue to drive digital finance transformations with our unrivaled technology and advisory services.”
By integrating data and workflows across purchasing, suppliers, contracts, and finance, Corcentric is helping organizations streamline and transform procurement processes to save money, increase efficiency, reduce risk, and improve working capital to drive measurable, sustainable results. Despite many organizations temporarily closing or shifting to a remote workforce over the past 12 months, Corcentric Platform customers have been more digitally enabled and increased key metrics such as total spend on purchase orders (+3.6%), the value of invoices with a workflow status of booked or paid (+9.67%), total spend under management (+9.01%) and the total spend under contract (+9.5%).
About the IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
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.