Corcentric Features

Manage workflows and business processes for procurement.

Provide standard procurement contracts that can be customized.

Maintain a repository of content such as catalogs and other documents.

Define requisition rules for various types of procurement.

Manage workflows and business processes for procurement.

Provide standard procurement contracts that can be customized.

Maintain a repository of content such as catalogs and other documents.

Define requisition rules for various types of procurement

Identify and assess suppliers for different products and services.

Create and manage purchase orders for products and services.

Include features for procurement invoicing and e-invoicing.

Identify and assess suppliers for different products and services.

Electronically create and manage purchase orders for products and services.

Include features for procurement invoicing and e-invoicing.

Improve visibility into procurement activities across the company.

Monitor the performance of procurement operations.

Analyze procurement spending and identify future trends.

Provide benchmarking options for comparison with peers This feature was mentioned in 18 Corcentric reviews.

Include standard spending KPIs that can be customized 18 reviewers of Corcentric have provided feedback on this feature.

As reported in 19 Corcentric reviews. Deliver reports for compliance purposes

As reported in 20 Corcentric reviews. Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud

Improve visibility into procurement activities across the company.

Monitor the performance of procurement operations

Analyze procurement spending and identify future trends.

Track invoices based on due dates to identify overdue payments

Monitor KPIs such as time to process an invoice or erroneous payments

Consolidate information from multiple sources or multiple entities 21 reviewers of Corcentric have provided feedback on this feature.

Classify information by category, supplier, or supplier This feature was mentioned in 20 Corcentric reviews.

Integrate with external sources for market intelligence This feature was mentioned in 19 Corcentric reviews.

As reported in 21 Corcentric reviews. Integrates with ERP systems general ledgers for transfering of AP transaction data

Ability to cleanse and consolidate AP data 19 reviewers of Corcentric have provided feedback on this feature.

Use criteria to add or remove suppliers to/from approved lists.

Manage communications with suppliers on multiple channels such as phone or email.

Capture and maintain documents related to suppliers and their products or services.

Compare goods received with purchase orders and document variations

Provide features to capture and record invoices, such as import or scanning

Allow suppliers to submit invoices using an online portal

Deliver a central repository of AP documents, such as POs and invoices

Allows users to evaluate supplier performance using standard and custom KPIs.

Provide features to compare suppliers and choose the best option for various activities.

Identify potential issues and how they may impact relationships with suppliers.

Ability to match AP invoices to POs, contracts, or payments

Identify incomplete or late supplier payments

Include workflows for approvals and invoice processing

Comply with local and global tax regulations for collections

Electronically submit invoices to buyers

Create and manage supplier profiles that include contact and pricing information.

Identify the services and products provided by suppliers, as well as certifications.

Track history of all interactions and business transactions with suppliers.

Provide integration with accounting and financial management software

Integrate with payment gateways and enterprise payments software

Deliver integrations with accounting modules of ERP systems

Allow integration with procurement software, such as Procure To Pay, RFP and Spend Management

Provide integration with accounting and financial management software

Integrates with other payments software

Deliver integrations with accounting modules of ERP systems

Provide standard invoice templates that can be customized by users

Ability to convert invoices to digital formats such as PDF

Automatically generates invoices at pre-defined time intervals

Allow users to consolidate multiple invoices into one

Ability to create multiple types of invoices

Manage invoicing for different types of products or services

Based on 17 Corcentric reviews. Approve, reject, or query historical payment transactions to identify anomalies

Based on 18 Corcentric reviews. Recover overpayments, duplicate payments, or unused credits from suppliers

As reported in 17 Corcentric reviews. Constantly evaluate AP transactions to optimize workflows

Improves management oversight by reconciling external data against internal transaction data This feature was mentioned in 17 Corcentric reviews.

Based on 17 Corcentric reviews. Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk

Reports on the status of invoices or payments

Run reports on customer credit

Tracks all transactions, from issuing invoices to payment reminders to receiving payment

Integrates with accounting or similar platforms

Integrates with ERP systems

Integrates with Corporate Performance Management platforms

Manages credit limits based on customer credit scores, payment history, or other financial metrics

Creates or imports invoices

Collects different payment types and manages payment terms

Offers customizable approval processes for all types of transactions

Reconciles payments to invoices to ensure matching

Ability to break down and plan multi-step processes

Makes informed choices based on available data and objectives

Anticipates needs and offers suggestions without prompting

Makes informed choices based on available data and objectives

Capability to perform complex tasks without constant human input

Capability to perform complex tasks without constant human input

Sends automated messages and reminders, resolves disputes, or does proactive outreach.

Responds to basic questions from inbound emails.

Analyzes past transactions to make a prediction of when future payments are likely to be paid.