IDC MarketScape Names Corcentric a ‘Major Player’ in Saas and Cloud-Enabled Procurement Applications

March 02, 2023 at 09:00 AM EST

CHERRY HILL, N.J., March 02, 2023 (GLOBE NEWSWIRE) -- Corcentric, a leading global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and mid-market companies, announced today that it has been named as a ‘Major Player’ in the IDC MarketScape: Worldwide SaaS and Cloud-enabled Procurement Applications 2023 Vendor Assessment, Doc #US48785722, March 2023.

The Corcentric Platform solution is designed to deliver value that helps enforce compliance, while improving efficiency and effectiveness across source-to-pay processes and the ability to automate manual processes. The IDC MarketScape recommends that clients consider Corcentric when seeking a “strong out-of-the box S2P solution, coupled with a robust, enterprise grade, invoice ingestion solution that supports a range of intake formats.”

The report noted, “Corcentric supports wider source-to-pay processes, extending and supporting both AP and accounts receivable (AR) business-to-business transactions – helping lower costs, increase process efficiencies, and create greater business value.”

The IDC MarketScape highlights Corcentric’s strengths, including:

“Corcentric provides ancillary services to the core procurement application offering, to include supply chain financing and managed services, that increase the mindshare for Corcentric's offerings and provide clients with a greater range of options.”
“Reference clients appreciate the flexible approach taken by Corcentric and its willingness to support customization of their respective instances.”
“Exceptional support services that include a very responsive support team were cited by multiple client references that consider Corcentric to be a trusted partner.”

“We’re grateful for the IDC MarketScape’s recognition of our work in the SaaS and procurement applications markets,” said Matt Clark, President and Chief Operating Officer at Corcentric. “For more than 20 years, Corcentric has provided solutions for CFOs and their teams to streamline business processes and remove risk from the equation. We will continue to offer services that allow our customers to focus on what matters most – growing their business.”

“Corcentric is a Major Player in this IDC MarketScape report,” said Patrick Reymann, Director, IDC Research Director, Procurement and Enterprise Applications. “There are many options for entities looking for Source-To-Pay and Order-To-Cash solutions, but very few provide these solutions and combine them with a host of ancillary services that includes advisory, managed services, and financing options. Entities interested in improving their working capital would do well to consider Corcentric.”

About IDC MarketScape:
IDC MarketScape vendor assessment 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.

About Corcentric
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.

Media Contact for Corcentric:
Rob Tacey
Director, Communications & Public Relations
Press@Corcentric.com
(302) 897-3094