Fleet Management

Corcentric Launches E-payments

September 29, 2016

SHARING TOOLS        | Print Subscribe

Corcentric, a provider of cloud-based financial process automation solutions, launched an e-payments solution to help customers further automate and digitize their payments processes.

This integrated, end-to-end solution automates back-end accounts payable and payment transactions, processes all of a company’s disbursements, reduces accounts payable and payment costs and manages the cost of growth, the company says. Corcentric manages all forms of payment – ACH, paper check and credit cards.

Corcentric’s new e-payments solution was announced at the TMW/PeopleNet in.sight User Conference + Expo 2016 in Nashville, Tenn. It handles vendor payments by obtaining a simple payment file from the client, which is then allocated and directed towards its vendors. Corcentric handles all vendor management and supplies confirmation of payments in an easy-to-use file. 

“With over 74% of companies still issuing paper checks as their payment method of choice, many are bogged down by fee-based models that can drag their clients into the minutia of paying per invoice and other pay-per-use items,” said Matt Clark, COO of Corcentric. “By automating the full lifecycle of a transaction, including the elusive payments portion, organizations can have greater visibility into spend and dramatically reduce costs.”

Corcentric partnered with FIS and Comdata to create this integrated payments solution. FIS’s PayNetExchange payment solution provides an automated payment processor initiating ACH, Check and Virtual Credit Card payments. This system allows clients to check payment status, approve payments and run reports. It also includes a vendor portal to manage payment preferences, view payment history and access remittance information.

Comdata will supply the Virtual Credit Cards and has played a role in the market adoption of virtual credit cards for B2B payments, according to Corcentric.

For more information, click here

Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.

GotQuestions?
sponsored by
sponsor logo

ELDs and Telematics

Scott Sutarik from Geotab will answer your questions and challenges

View All
GotQuestions?

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All