Case Study: Yokohama Tire Corporation transforms AP payments with Corcentric Payments

Yokohama Tire Corporation saves $2M annually with Corcentric Payments

The information solutions provider was struggling with an inefficient Accounts Payable process plagued by paper checks, inconsistent supplier payment terms, and a costly ACH validation process. Seeking a comprehensive AP strategy, the company turned to Corcentric and its Corcentric Payments service to streamline operations and accommodate various payment methods.

Corcentric implemented its payments solution, which included consolidating payment terms into one system and transitioning a large volume of payments to electronic alternatives. This resulted in minimal effort required from the AP department and provided access to a 24/7 online portal. The solution from Corcentric delivered an impressive $2 million in annual net benefit from converting to electronic payments and offered a better customer experience.

Yokohama Tire Corporation