At Geith International, a maker of excavator attachments, an unpaid invoice could become a problem for the shipping department. Accounts on hold needed releasing before products could leave. Those escalations used to appear in daily operations meetings. Money owed on yesterday’s order was getting in the way of tomorrow’s business.
- Corcentric handles the work around buying, billing and getting paid.
- Its current corporate focus is fleet solutions and managed receivables.
- The useful question: how much time, cash and staff effort does the arrangement release?
Geith had more than 700 active dealer accounts in EMEA alone. Its difficulty was partly administrative: invoice mismatches, uneven payment behavior and too much work for shared-service teams. Corcentric took over credit checks, collections, disputes and account-release decisions. In the resulting customer case study, collection time fell from 90 to 59 days. Account-hold escalations became an occurrence every couple of months.
That is a useful way into Corcentric. Its business concerns the consequences of waiting: inventory that cannot move, cash that cannot be spent, people who cannot finish one task because another department has not finished theirs.
A fleet business follows the invoice
The origin is a little less Silicon Valley than the software vocabulary suggests. Doug Clark founded AmeriQuest Transportation and Logistics Resources Corp. in 1996. AmeriQuest acquired Corcentric in 2002, adding financial automation to its procurement capabilities. In 2018, the parent adopted the Corcentric name.
The connection makes practical sense. Trucks require tires, parts, repairs and replacement. Every purchase creates an administrative trail. Pool enough purchases and you can negotiate prices. Coordinate the invoices and payments and you can reduce the work surrounding those purchases. Corcentric expanded along that trail, combining technology with people who understood the transactions.
Today, its fleet page describes purchasing power representing more than 800,000 vehicles, more than 2,000 fleets and over 130 supplier programs. Financing, lifecycle analysis and used-truck remarketing extend the relationship from buying equipment to deciding when to sell it. That is a particular kind of expertise: knowing how a vehicle’s running costs change the economics of keeping it.
Manufacturers, distributors and transportation operators fit naturally into this picture. Public customer examples include Stericycle, Aurora Parts and Daimler Trucks North America. These are businesses where the paperwork travels through networks of suppliers, dealers and operating locations.
The work behind the software
Corcentric’s broader portfolio includes sourcing, procurement, accounts payable automation, payments and electronic invoicing. Source-to-pay covers the buying side. Order-to-cash covers the journey from a sale to collected money. The company grew those capabilities through acquisitions including Source One, Netsend, Determine and payments provider Vendorin.
Its current corporate positioning makes a more specific choice. The company’s history records a strategy refinement in 2026; its About page emphasizes fleet management and managed accounts receivable. Procurement and payments remain visible in its navigation. For a prospective customer, the sensible starting point is the actual service being purchased.
Software moves the information. A managed team owns the follow-through.
Managed AR combines invoice delivery, cash application, collection and dispute resolution with financing. Corcentric advertises agreed payment timing and non-recourse arrangements. Those promises turn on the contract. Their significance is that a supplier can receive cash on an agreed schedule while its buyer continues paying on its own schedule.
The distinction matters when comparing vendors. Procurement buyers may consider Coupa, SAP Ariba or Ivalua. A company seeking to hand over collections is making a different purchase from one seeking an approval screen. Corcentric’s proposition includes responsibility for operating parts of the process. The team, the workflow and the funding belong in the evaluation alongside the interface.
There is a practical boundary here. A dashboard can reveal an overdue balance. Someone still has to discover whether the customer disputes the delivery, needs a corrected document or lacks credit approval. That handoff is where a managed service earns its place.
31 fewer days outstanding. One customer’s result, not a forecast for every deployment.
The price of taking over
Corcentric sells contracted business services and software, with payments and financing adding transaction-related economics. Managed AR is marketed without upfront costs. Buyers still need to examine ongoing fees, financing terms and service responsibilities. A useful comparison includes the staff effort and working capital committed to the existing process.
Put a real batch of invoices through that comparison. Include a disputed order, a late payer and a customer who requires a particular document format. Ask which exceptions stay with your team and which move to Corcentric. For fleet procurement, compare the basket you actually buy, including delivery and administration. A lower quoted tire price means little if the program adds work elsewhere. The value has to survive contact with the whole transaction.
The company’s own financing deserves equally careful reading. Bregal Sagemount invested $80 million for a minority stake in 2020. In June 2023, Corcentric announced a $315 million senior credit facility: a $250 million asset-based revolver from Bank of America and JPMorgan Chase, plus a $65 million term loan from TCW. Borrowing capacity and equity investment serve different purposes; neither number is revenue.
There was also a public-market plan that ended. Corcentric and North Mountain announced a proposed merger in December 2021, then mutually terminated it in August 2022. Closing conditions remained unsatisfied; the announcement cited market conditions. Neither party owed the other a termination fee. The proposed listing never became an accomplished milestone.
Keep the fax machine on the map
The Guardian supplies a wonderfully ordinary detail. Its billing transition supported print, post and even fax while customers moved toward electronic invoicing. Some could first receive an emailed PDF, then adopt structured electronic exchange. The case study reports three to five days of staff time saved monthly.
“Through improved invoicing efficiency, accuracy, and visibility, Corcentric saves us hours every day.”Mark Eyers · Head of Accounts Receivable, The Guardian
The lesson is portable. Map how customers actually receive bills. Give someone authority over exceptions. Measure elapsed time, rather than counting how many steps have become digital. Corcentric’s February 2026 Workato partnership, announced to expand enterprise-system connectivity, addresses another part of that same coordination problem.
Fit still matters. A team that wants to retain every collections conversation may prefer software alone. Fleet purchasing depends on whether negotiated suppliers match real spending. Before buying, test those details against a specific workflow. Geith’s stopped shipment is a better starting point than a feature list: find the delay that matters, then decide who can remove it.