Case Study: Leading Information Solutions Provider achieves $2M annual net savings and converts $283M to electronic payments with Corcentric Payments

Information Solutions Provider Transforms AP Process with Corcentric Payments

Leading Information Solutions Provider was struggling with an inefficient Accounts Payable function dominated by paper checks, inconsistent supplier terms and payment types, and a costly, unreliable ACH validation process. The company selected Corcentric and its Corcentric Payments solution to create a comprehensive, streamlined AP strategy that could support multiple electronic payment methods.

Corcentric implemented Corcentric Payments, auditing and consolidating vendor payment terms into a single system, enrolling suppliers and providing a 24/7 portal for payment details and remittance info. The vendor transitioned 13,185 transactions to electronic alternatives—converting $283M in spend and 943 suppliers to electronic payments—eliminated in-house ACH validation costs, and delivered an estimated $2M annual net benefit while reducing AP effort and improving supplier relationships.