Case Study: Watermark Retirement Communities achieves best-in-class Source-to-Pay visibility and agility with Corcentric

Watermark Achieves Best-in-Class Source-to-Pay Functionality

Watermark Retirement Communities, a national senior living operator managing 65 communities, faced inefficient, email-based Source-to-Pay processes that created poor visibility and control across contract lifecycle management, supplier management, sourcing, procurement, and invoicing. To streamline operations and support growth, Watermark turned to Corcentric and the Corcentric Platform for an end-to-end Source-to-Pay solution.

Corcentric implemented its Contract Lifecycle Management, Supplier Management, Procurement, and Invoice Management solutions, delivering automated workflows, e-signatures, real-time supplier data integration, and pre-programmed shopping carts. The results include 2,000 contracts uploaded annually (30 contract types), one- to two-minute uploads, 38%–52% faster contract execution, 34% higher spend compliance, 900 users with 100% automation, faster invoice-to-payment reconciliation, and greater visibility and agility — enabling Watermark to reallocate time to resident care. Corcentric’s platform made these measurable improvements possible.

Watermark Retirement Communities

Karen Mlawsky

Chief Operating Officer