Case Study: Leading Facility Management Company achieves $1.9M annual net benefit with Corcentric Payments

Facility Management Company Turns to Corcentric for Payment Automation

Leading Facility Management Company was struggling with an inefficient, paper-check–based payment program that was time-consuming, error-prone and lacked supplier payment options and visibility. To overhaul its disbursements and improve security and supplier terms, the company selected Corcentric and implemented Corcentric Payments.

Corcentric automated and centralized the company’s payables, enabling multiple electronic payment types and converting 3,978 suppliers to electronic payments. About 84,000 check transactions (84,090 eliminated checks) were moved to electronic payments, $262M in spend was converted, and the program delivered an estimated $252,270 in transactional savings plus a $1.9M annual net benefit within one year. Corcentric’s solution also consolidated payment terms into a single system of record, reduced payment runs (daily to weekly), increased visibility and sped invoice-to-disbursement processing, freeing up AP resources.