CHERRY HILL, N.J., Sept. 15, 2020 /PRNewswire/ -- Corcentric, a leading provider of business spend management and revenue management software and services, announced today that the company is included in a recent report by Forrester, a global research and advisory firm for business and technology leaders, titled Now Tech: Supplier Risk and Performance Management (SRPM), Q2 2020.
Corcentric is included among the supplier value management suite (SVM) primary functionality segment, for embedding supplier risk and performance management within all sourcing and procurement processes. The report notes that most SVM suites are good at supplier self-service, which can aid risk data collection and broader collaboration and at incorporation of SRPM tasks into other sourcing and procurement processes.
The report provides sourcing and procurement professionals with the research to ensure both risk-tolerant and ethical and sustainable sourcing practices, as well as improve supplier relationships by rewarding higher-performing suppliers. Companies using Corcentric's supplier management technology are focused on reducing the cost to manage suppliers, improve supplier onboarding cycle times and proactively manage supplier performance, compliance and risk.
"The acquisition of Determine enabled us to reach new organizations globally in healthcare, retail and technology and offer advanced analytics and business process automation that provides Finance and Procurement with the capability to gain deeper insights and convert everything their companies do into actionable intelligence," said Matt Clark, president and COO, Corcentric. "In bringing in these deep-rooted features into our suite of solutions, we've been able to help many organizations be agile in how they have procured both direct and indirect goods this year. We look forward to continuing to engage with Forrester and the valuable research and insights they provide to Chief Procurement Officer's in their decision making."
Corcentric enables customers to achieve tangible results with analyst leading SaaS solutions by covering the depth and breadth of full Source-to-Pay, AP automation, EIPP and managed Order-to-Cash solutions. To improve technology adoption, Corcentric offers advisory and consulting expertise through capital equipment solutions, fleet procurement, GPO programs, indirect GPO programs, strategic sourcing, procurement transformation, and procurement help desk and outsourcing services.
In addition, Corcentric is uniquely positioned to drive successful working capital improvements with integrated payment and supply chain finance programs. The combined solutions support almost $500 billion of annual B2B commerce across more than 2,000 customers in several industries including manufacturing, transportation, wholesale/distribution, retail, healthcare, and financial services markets.
Now Tech: Supplier Risk and Performance Management (SRPM), Q2 2020, Forrester's Overview Of 23 SRPM Providers, June 29, 2020 by Duncan Jones with Christopher Mines, Luis Deya, Anna Vyshnevska, and Kata Hartig is available online to Forrester customers or for purchase.
About Corcentric Corcentric is a global provider of market-leading source-to-pay, order-to-cash, and fleet solutions. From the mid-market to Fortune 1000 businesses, Corcentric delivers technology, managed services, and strategic advisory focused on reducing costs, optimizing working capital, and unlocking revenue. Corcentric was named a 2020 '50 Providers to Know' by Spend Matters and a leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation 2019.