Corcentric Enters Reseller Agreement with Commerce Bank

CHERRY HILL, N.J., Aug. 15, 2019 /PRNewswire/ -- Corcentric, a leading provider of procurement and financial process automation solutions, has entered into a reseller agreement with Commerce Bank to present its Cor360 solution as a white-labeled platform to Commerce customers.

"Corcentric brings a solution to Commerce customers that meets the needs of growing businesses as their processing requirements become more complex," noted Matt Clark, President and COO of Corcentric. "Where we really connected, however, was the alignment of our company culture. Both Corcentric and Commerce operate on a foundation of providing quality customer care that delivers a competitive advantage and helps support growth."

Commerce Bank will manage the sales, implementation, and ongoing account management and support of the AP workflow solution.

"Corcentric and Commerce share common values and the mission to deliver robust solutions that allow customers to focus on their core business and spend less time on inefficient processes," said Roger Williams, Director of Commercial Card at Commerce Bank. "This agreement brings best-in-class AP workflow solutions to Commerce Bank's commercial customer base, enhancing our existing AP payment offerings."

The agreement is effective immediately and will introduce Corcentric's solution in phases to Commerce customers as a white-labeled platform.

About Corcentric

Corcentric is a leading provider of source-to-pay services and solutions for businesses in the United States and Europe that optimize how they purchase, pay, and get paid. Corcentric's procurement, accounts payable, and accounts receivable solutions empower companies to spend smarter, optimize cash flow, and drive profitability. Corcentric was named a 2019 '50 Providers to Know' by Spend Matters and a leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation 2019. Since 1996, more than 6,000 customers from the middle market to the Fortune 1000 have used Corcentric to reduce costs and improve working capital. Learn more at corcentric.com.

About Commerce Bank

With $25.8 billion in assets as of June 30, 2019, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., the Company currently operates full service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City and Denver. Commerce Bank also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.

SOURCE Corcentric

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