TRADING SYSTEMS

Vendorin Rebranded as Corcentric Payments Provider for B2B

Vendorin | February 01, 2022

Vendorin_Rebranded
Vendorin announced rebranding its B2B payment solution as Corcentric Payments, a global provider of B2B expenditure and revenue management software, in 2020. With the new venture and under one unified brand, now the company can monetize transactions through supply chain finance, payments, and group purchasing via electronic mode. In addition, the venture will help increase overall supplier acceptance accounts payable (AP) processes and fully automate accounts of the organization.

Corcentric is relentlessly focused on our customers, which is why we are looking continuously for ways to help businesses reduce costs and unlock new potential through our solutions. As the pandemic conditions continue causing companies of all sizes to shift to electronic payments, our combination of a stellar supplier network and an integrated true payment network makes Corcentric a single, formidable force."

Matt Clark, President, and Chief Operating Officer at Corcentric

As per a survey conducted by PYMNTS.com and Corcentric, nearly 71% of CFOs have increased the use of digital payments since the pandemic. Finance leaders are highly digitalizing payment modes to achieve their company’s goals. However, a Forrester Consulting study commissioned by Corcentric finds that over 51% of finance leaders still struggle with a lack of payment digitalization, slowing down their cash flow processes.

The rebranding of Vendorin as Corcentric Payments initiated its new payment solutions a year after when the company united with Determine, a source-to-pay software provider, Netsend, e-billing service provider, and with Source One, a strategic sourcing services provider under the name of Corcentric. Today, Corcentric can provide an advanced suite of Source-to-Pay and Order-to-Cash solutions with a proprietary B2B payments network with the help of its unification with these notable service providers. The network comprises nearly half a million buyers and suppliers. Furthermore, through cloud-based software, payments, and advisory services, Corcentric empowers customers to minimize risks of capital growth and enhanced visibility of payment details. In this way, the company aims to process over $100 billion in overall transactions annually.

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The past 48 hours have shown high levels of market volatility around the globe. Join our chief investment strategist, Jim McDonald after the U.S. markets close to learn more about the day's market activity, its impact and our views for the coming days.

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