Case Study: Watermark Retirement Communities achieves best-in-class source-to-pay functionality with Corcentric

Watermark Retirement Communities speeds contract execution 38% to 52% with Corcentric

Watermark Retirement Communities, a premier senior living company, faced inefficiencies and a lack of visibility across its source-to-pay processes, including contract management, supplier onboarding, and procurement. To address these challenges and support its growth, Watermark turned to Corcentric and implemented the Corcentric Platform, an end-to-end source-to-pay solution.

By leveraging Corcentric's software, Watermark automated its previously manual and email-based processes. The results included uploading 2,000 contracts annually in just minutes, executing contracts 38-52% faster than peers, and achieving a 34% higher spend compliance rate. With over 900 users and full automation, Corcentric provided Watermark with the visibility and control needed to improve agility and allocate more resources to its core mission.

Watermark Retirement Communities