Corcentric is present in 5 markets with 9 products. Corcentric has 63 reviews with an overall average rating of 4.6.
Accounts Payable Applications
Gartner defines the accounts payable applications market as cloud-based applications that enable corporate controllers and their teams to automatically manage supplier invoice processing, facilitate payments and support supplier master data management across one or more ERP applications. Organizations use accounts payable applications to improve their supplier invoice processing, payments and supplier master data management activities. They allow organizations to efficiently and confidently pay supplier invoices. These applications are modular cloud-based tools that customers can configure to deliver standard processes and integrate with one or more ERP applications. Additionally, they integrate with other operational tools, such as source-to-pay suites, partner networks, banks and payment service providers, while creating flexibility for suppliers to deliver supplier invoices. An example would be the collection and processing of supplier invoices using a digital mailroom, whereby data (structured and unstructured) is extracted from scanned documents and validated prior to approval for payment.
Corcentric has 1 product in Accounts Payable Applications market
Contract Life Cycle Management
Gartner defines contract life cycle management (CLM) market as a solution that proactively manages contracts from initiation through negotiation, execution, compliance and renewal. In this context, a contract is any agreement or contractual document containing rights and obligations that affect an organization now or in the future (e.g., a nondisclosure agreement). CLM solutions allow organizations to create, negotiate and store contracts in a centralized repository. Using these solutions helps mitigate organizational risk by enabling regulatory and policy compliance, providing governance over what is signed and with whom, and role-based access to terms and obligations with third parties. CLM solutions drive visibility, consistency and efficiency in the contracting process across an enterprise. Use cases are primarily aligned to parts of the process, such as presignature and postsignature. Different departments often prioritize a certain use case based on their involvement in the contracting process.
Corcentric has 1 product in Contract Life Cycle Management market
Invoice-to-Cash Applications
Gartner defines the invoice-to-cash (I2C) applications market as cloud-based applications that enable corporate controllers to automatically manage collections and apply customer payments to invoices. I2C applications typically gather, disseminate, track and analyze data from and to internal and external sources. They make I2C processes more efficient and effective, including managing and monitoring deductions, disputes and credit risk. They also typically can ensure invoices are delivered to customers and that customers have options to pay them. I2C applications enable I2C transaction processing across multiple ERP systems. Organizations use I2C applications to collect and apply customer payments to open invoices, perform credit and collections activities, manage deductions and disputes, and deliver and present invoices to customers for payment. I2C applications are cloud-based tools that provide organizations with a standard way of processing across ERPs, while creating flexibility for buyers in how they receive or access invoices as well as pay and dispute them. I2C applications allow an organization to connect and exchange data with multiple ERP systems and other operational tools, such as customer relationship management tools, as well as with partners such as credit and collections agencies, logistics providers, banks and payment service providers. They use data to determine credit risk, automate collections and cash applications activities as well as help manage the resolution of deductions and disputes. Such activities result in faster collection of cash, improved visibility to cash flow, an improved customer experience and reduced process cost.
Corcentric has 1 product in Invoice-to-Cash Applications market
Source-to-Pay Suites
Gartner defines the source-to-pay (S2P) suite market as an integrated set of solutions to source, contract, request, procure, receive and pay for goods and services across an enterprise. These solutions typically are sold as cloud-based software as a service. Source-to-pay suites allow organizations to manage all of their sourcing and procurement activities within a single integrated solution. These solutions are modular in nature, allowing customers to activate/implement the functionality that is relevant for their needs, and are ERP/financial-system-agnostic. The integrated nature of these solutions allows for data to easily flow across the source-to-pay process, providing needed visibility to upstream and downstream information. For example, users can view a purchase order alongside its related contract, the sourcing event that led to the contract, and connected downstream documents like receipts, invoices and payments.
Corcentric has 1 product in Source-to-Pay Suites market
Strategic Sourcing Application Suites
Strategic sourcing application suites are a set of related, integrated solutions that support upstream procurement activities; in other words, the strategic work the procurement team does for planning, assessment and performance management. Strategic sourcing application suites are used primarily by companies with $800 million or more in annual revenue that, typically, have the necessary critical mass of spend. The strategic sourcing application suite delivers four primary capabilities. Most vendors offer these capabilities as separately licensable modules: Spend analysis is a software- and service-based solution for cleansing, enhancing, classifying and analyzing spend data. It features rule-based data cleansing, automated category-level classification, analytics and decision support. Automated spend analysis is used in procurement and sourcing to quantify spend by supplier, category and part, and to identify opportunities for cost reduction and supply base resizing.
Corcentric has 5 products in Strategic Sourcing Application Suites market
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