Procurement and accounts payable solutions provider Corcentric has announced that it has entered into a reseller agreement with Commerce Bank to allow its Cor360 solution to be used as a white label platform for Commerce customers.
“Corcentric provides commerce customers with a solution that meets the needs of growing businesses as their processing requirements become more complex,” said Matt Clark, president and chief operating officer of Corcentric, in a Press release. “However, where we really connected was the alignment of our corporate culture. Corcentric and Commerce both operate on the basis of quality customer service that provides a competitive advantage and helps support growth.
As part of the agreement, which is effective immediately, Commerce Bank will manage sales, implementation, ongoing account management and support for the solution, which will be phased in.
“Corcentric and Commerce share common values and the mission of providing robust solutions that allow customers to focus on their core business and spend less time on inefficient processes,” added Roger Williams, Director of Commercial Card at Commerce Bank. “This agreement brings the best AP workflow solutions to Commerce Bank’s business customers, enhancing our existing AP payment offerings.
Earlier this year, Corcentric revealed it was buying the source-to-pay company Determine in a deal worth around $ 32 million. Determine connects businesses to cloud-based spend management and analysis tools, including vendor and contract performance analysis.
“The acquisition of Determine is both synergistic and transformative for Corcentric,” Clark said at the time. “We have been following the development of the Determine cloud platform for some time and are excited about the prospect of adding its robust capabilities, as well as the business experience of the collective Determine team, to the Corcentric family. . We believe that the mix of Determine with Corcentric gives the newly combined company an opportunity to deliver more value to our customers and prospects, and this increases our footprint in the global market so that we have the opportunity. [to] serve a broad base.