Case Study: Independent Energy Company achieves $600K+ annual net benefit and 375% ROI with Corcentric Payments

Independent Energy Company Automates Payment Process and Sees Major ROI

Independent Energy Company, an oil and gas producer focused in the Williston and Green River Basins, needed to reduce paper checks, consolidate accounts payable, integrate its Excalibur financial system with bank payments, and improve cash forecasting and supplier relationships. After evaluating proposals, the company selected Corcentric and its Corcentric Payments solution to transition suppliers and land owners to electronic payments.

Corcentric conducted vendor audits, ran virtual card and ACH enablement campaigns plus tailored land‑owner outreach, and configured Excalibur to create bank-ready electronic payment files; within 90 days 77% of supplier check payments, 49% of targeted supplier check spend for virtual card, and 50% of land‑owner check payments were converted. The Independent Energy Company gained 100% payment visibility, recovered conversion costs in three months, and is realizing more than $600,000 net benefit per year and a 375% annual ROI as Corcentric continues work toward 100% electronic supplier payments.