Corcentric, a leader in the field of business spend management and revenue management software and services, has recently acquired Vendorin for $100 million. This article will tell you more about the acquisition and a reputable payments comparison specialist, BestPaymentProviders.com.
Corcentric Acquires Vendorin: BestPaymentProviders.com
The rise of virtual card payments is unprecedented. Today, you can find lots of source-to-pay companies cooperating with banks, and Corcentric – Vendorin partnership is one of the examples.
Vendorin is a B2B integrated payments network featuring high growth, enabling its customers to easily enroll and pay suppliers with the help of any payment method. According to Robert Johnson, COO at Vendorin, they feel proud to power the AP processes of some of the biggest players in banking, consumer products, automotive, fuel and other industries.
Overall, Corcentric has made 3 acquisitions by spending more than $132M for them. The company has made investments in Payments, Legal Tech, SCM Software, and not only. What are you doing to fight the current financial challenges and take your business to the next level? One thing is certain: you should use only the best merchant services in the industry.
You can be sure to find them by working with a seasoned merchant processor comparison company like BestPaymentProviders.com. As a result, you’ll enjoy the most advanced, safest and cheapest payment processing services in the country.
What to Expect From Corcentric – Vendorin Partnership
Vendorin’s teaming with Concentric builds bases for further monetization of transactions. Corcentric’s supplier network creates an opportunity for moving payments to electronic forms and growing overall supplier acceptance. As a result, Corcentric’s customers become able to pay and accept payments via simple and elegant transactions.
Thanks to the integration of Corcentric’s AP- and AR-based software and financing capabilities, enterprise companies will witness a revolution in the management process of payments programs globally.
By acquiring Vendorin, Corcentric starts expanding its payment capabilities, particularly in the small to mid-size market. The letter market grants companies the biggest opportunity to accept ACH and virtual-card transactions instead of paper checks.
To sum up, source-to-pay provider Corcentric has recently paid $100 million to acquire the payments technology specialist Vendorin. This acquisition allows for staying away from paper checks and moving towards digital B2B payment methods.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of payment-processor comparison specialists like BestPaymentProviders.com. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.