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Corcentric Completes Unification of Determine, Netsend and Source One

January 27, 2021, 07:05 AM
Filed Under: Mergers & Acquisitions

Corcentric, a provider of business spend management and revenue management software and services, 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. The new Corcentric is an unrivaled combination of software, advisory services and payments to reduce operating costs and unlock new potential within enterprises.

The unification is the culmination of a multi-year effort that combined organic business growth with targeted acquisitions to expand globally, reach new industries and become the first end-to-end provider of procurement, accounts payable, and accounts receivable solutions. 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.

"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 Chief Operating Officer.

In May, Corcentric received an $80 million strategic investment from private-equity firm, Bregal Sagement, to support product innovation and solution integration efforts. The company has been helping enterprises reduce the cost of doing business and invest in sustainable growth since its Founder, Chairman and CEO, Doug Clark, founded the business as AmeriQuest in 1996. Today, 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.

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