Corcentric, a fast-growing provider of procurement and financial process automation solutions, announced today that they have signed an agreement with G&P Trucking to deliver a full suite of financial process automation solutions that will help the South Carolina-based company track their spend and improve working capital management. G&P is an international logistics company providing supply chain solutions throughout the world.
The trucking company, founded in 1936, specializes in next-day and same-day service, and operates a fleet of about 520 tractors and 1,500 trailers from about a dozen terminals in the Carolinas, Georgia, Virginia, Tennessee, and Texas. The agreement expands a long-running partnership whereby Corcentric has provided a capital equipment management strategy for G&P. Under the new agreement, G&P will implement the Corcentric Approval Workflow, Purchase Order, and Payments solutions across the entire company.
"G&P's goal in building upon the relationship with Corcentric is to better serve our customers and employees by improving operational and cost efficiencies," said Billy Lynch, Vice President-Controller, at G&P Trucking. "Through leveraging Corcentric's expertise in financial process automation, we are building a competitive advantage that benefits the entire company and enables us to bring added value to our clients."
"One of the refreshing aspects about working with G&P is that they have been very forward thinking in seeking to adopt innovation that provides those financial and operational efficiencies. As a result, they can provide better service to their customers," said Nina Doherty, Regional Vice President for Corcentric. "It really is a case where they are demonstrating the motto of G&P's leadership to 'never miss an opportunity to serve others'." Financial process automation solutions not only address the paper issue, but enable strategic initiatives company-wide."
Tom Toton, of Corcentric's Capital Equipment Solutions, added, "As a former Corcentric customer myself and trucking industry CFO - it was evident that financial process automation would be an excellent catalyst within G&P to reduce and control costs. I was delighted to see that my instincts in adding this part of our solution set into the mix were on target."
A recent report by Ardent Partners, The State of ePayables 2018, noted that best-in-class organizations are implementing e-invoicing at a rate nearly double their competitors, 71% vs. 38%. G&P has been working with Corcentric to optimize the Total Cost of Ownership of its capital equipment and recognized the competitive advantage they would gain by addressing the entire spend cycle.
Corcentric is a leading provider of procurement and finance solutions that transform how companies purchase, pay, and get paid. Corcentric's procurement, accounts payable, and accounts receivable solutions empower companies to spend smarter, optimize cash flow, and drive profitability. Since 1996, more than 6,000 customers from the middle market to the Fortune 1000 have used Corcentric to reduce costs and improve working capital. Learn more at corcentric.com, or follow Corcentric on LinkedIn at https://www.linkedin.com/company/corcentric.