Case Study: Leading Retailer eliminates 75% of supplier checks and reduces payment initiation costs by 88% with Corcentric Payments

Retailer Swaps Inefficient Manual Processes for Electronic Supplier Payments

Leading Retailer faced an outdated, manual supplier payment process—relying on checks, lacking integration with its legacy financial system, missing supplier discount opportunities, and exposed to check fraud and reconciliation challenges. After reviewing proposals from its bank and two vendors, Leading Retailer selected Corcentric and its Corcentric Payments solution to automate and centralize disbursements and enable electronic supplier payments.

Corcentric conducted a master vendor review, a six-week supplier outreach and enablement effort, and configured the retailer’s financial system to produce bank-ready electronic payment files; within 90 days 75% of supplier check payments were converted and 50% of targeted suppliers transitioned to electronic payments. The Corcentric Payments deployment delivered a 761% ROI, an 88% reduction in payment initiation costs, full cost recoupment in one month, improved payment security and reconciliation, and greater control over organizational spend.