Corcentric, a leading provider of automation solutions for Procurement and Finance, has acquired Source One Management Services. The world-class spend management consulting firm joins Corcentric in its mission to optimize the way organizations purchase, pay, and get paid.
Since 1996, Corcentric's Procurement, Accounts Payable, and Accounts Receivable solutions have enabled clients to spend smarter, optimize their cash flow, and drive profitability. They've empowered over 6,000 customers - ranging from mid-market to Fortune 1000 organizations - to unlock their hidden potential and develop competitive advantages.
Matt Clark, Corcentric's President and COO says, "Acquiring Source One was a natural fit for Corcentric. We're excited to add their sourcing and procurement expertise to our portfolio of procure-to-pay solutions. As companies look to gain more visibility into their spend and better manage cash flow, the acquisition of Source One gives us an opportunity to share our innovations with more customers while increasing value across finance and procurement."
Source One supplements Corcentric's service offering with a robust suite of Procurement services and nearly three decades of cost reduction experience. Along with a strong customer base, they'll provide Corcentric with proven best practices, years of market intelligence, and a wealth of direct and indirect category expertise.
Over at Source One, the news was also met with excitement. "We've always sought to become the best Procurement services provider in the world," says CEO Steven Belli. "Joining the Corcentric family brings us closer than ever to accomplishing that goal. They share our commitment to innovation, customer service, and the power of more a more strategic Procurement department."
The acquisition expands Source One's ability to share innovations with its clients and drive the Procurement function forward. As a Corcentric company, the spend management team will offer an end-to-end solution for companies looking to evolve their Procurement department and realize the considerable benefit of more proactive, strategic purchasing.
In addition to acquiring Source One, Corcentric is now the parent of the StrategicSourceror.com, your go-to resource for the latest in procurement and supply chain news. Stay tuned for more updates on this exciting new chapter!