Case Study: Peak Cashflow achieves AP efficiency and converts $60.9M to electronic payments with Corcentric Payments

Peak Cashflow converts $60.9M to electronic payments with Corcentric

Peak Cashflow, a major automotive dealership, faced significant challenges with its accounts payable processes. These included a heavy reliance on paper checks, inconsistent supplier payment terms, difficulty tracking discounts, and a costly in-house ACH validation process. Seeking to transform its payment operations, the company partnered with vendor Corcentric to implement their Corcentric Payments solution.

Corcentric provided a fully integrated payment service that automated and centralized the dealership's disbursements. The solution consolidated all payment terms and types, converted over 3,200 transactions to electronic payments, and enabled 414 suppliers to get paid electronically. This implementation by Corcentric resulted in an estimated $22,701 in savings from eliminated paper check costs, converted over $60.9 million in spend to electronic payments, and generated $190,815 in annual net benefit within the first year.

Peak Cashflow