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Corcentric Implements COR360 Accounts Payable Automation Solution with Spark Energy
1888PressRelease - COR360 will provide Spark Energy with the technology to cut costs and increase efficiencies in their accounts payable processes.
MCLEAN, VA, - Corcentric, a leading provider of SaaS Accounts Payable automation solutions hosted in the cloud, today announced an agreement to implement its AP automation solution for Spark Energy, a nationally recognized retail electricity and natural gas provider.
The integration of COR360 into Spark Energy's Accounts Payable processes will help the company bridge the last automation gap related to their non-PO based invoice workflow. As part of the solution, Spark Energy will be using the COR360 platform to streamline the invoice approval workflow for faster processing and to reduce costs associated with manual processing. According to a study by the Aberdeen Group, organizations that automate these processes can shave 30% off the cost of processing and can decrease processing time from 17 days to less than five. Additionally, with COR360's automated processes in place, Spark Energy will be able to process a higher volume of invoices and at a faster speed without adding more staff.
"We are excited to integrate the COR360 Accounts Payable automation solution into our current AP processes. By incorporating the most advanced AP automation technology into our processes, we will be able to increase visibility of our vendor invoices, force compliance of appropriate invoice approval levels and reduce processing costs; a few of the many rewards we will reap with the streamlined invoice processing. Additionally, we were very impressed with the customer support that Corcentric has continued to provide. Their support allowed us to quickly implement and start using COR360 for our non-PO based invoice processes. Between signing the contract and going live, we were able to implement and go into production within two months," stated Amanda Wilson, Director, Accounting and Financial Reporting, Spark Energy.
"Industry leading organizations are beginning to understand the full value of replacing their manual and paper-intensive AP processes with streamlined, automated solutions," stated Rob DeVincent, Vice President of Product Marketing at Corcentric. "Our clients understand that by adopting SaaS-hosted AP automation tools, they stand to not only save significant amounts of money, but can also accelerate payment cycles, leverage discount opportunities, and move their teams to more strategic projects as a result of implementing ZeroTouch, paper-free operations."
About Spark Energy
Spark Energy, L.P. is an independent, nationally recognized retail electricity and natural gas provider to hundreds of thousands of homes and businesses in 17 states. With more than a decade of experience, the company works to consistently deliver competitive energy prices, community support and a superior customer experience. Spark Energy is dedicated to positively impacting the communities it serves by building relationships, inspiring philanthropy, and promoting goodwill both inside the company and throughout the community. For more information, visit sparkenergy.com or join our online community at facebook.com/SparkEnergy.
Corcentric is a leader in financial process automation, specializing in Accounts Payable automation, PO requisitioning and imaging, and workflow solutions. By creating a paperless conduit between procurement, Accounts Payable, Accounts Receivable, and Suppliers, Corcentric allows companies to immediately manage 100% of their invoices electronically. Our cloud-based (SaaS) architecture allows for solutions to be configured in days rather than months for rapid return on investment.
Corcentric was founded in 1998 and is headquartered in McLean, VA with offices in Cherry Hill, NJ; Oakbrook Terrace, IL; Coral Springs, FL; Norcross, GA; and Fairfield NJ. More than 3,000 companies rely on Corcentric to streamline their invoicing and payment processes to gain controls and efficiency while optimizing working capital.
For more information on Corcentric, call 888.525.7677 or visit http://www.corcentric.com.