Wednesday 3rd February, 2021
Corcentric has announced it has completed the rebranding of source-to-pay software provider, Determine, e-billing provider Netsend, and strategic sourcing services provider Source One, under the Corcentric name.
By acquiring Source One, Netsend, and Determine, Corcentric added significant and complementary capabilities to broaden the depth of offerings and expertise, as well as develop new software solutions in the areas of e-billing, source-to-pay, enterprise contract lifecycle management, procurement, and financial process automation, the company said.
“Our value proposition has remained the same, and now, as one Corcentric, we are able to provide solutions that enable frictionless commerce between B2B buyers and sellers, enable businesses to reduce costs, get more spend under management, and make buying, paying, and getting paid easy, efficient, and fast,” said Matt Clark, President and COO."
In May, Corcentric received an $80 million strategic investment from private equity firm Bregal Sagement to support product innovation and solution integration efforts.
Corcentric enables its 2,300 customers to conduct $320 billion in B2B commerce transactions annually by connecting thousands of buyers and suppliers through its solutions.