Corcentric Announces Acquisition Of Source One Management Services

Leading provider of procurement and financial process automation solutions to expand its sourcing and procurement services

Cherry Hill, NJ/PRNewswire/ - Corcentric, a leading provider of procurement and financial process automation solutions, today announced that it has acquired Source One Management Services, LLC, a leading tech-enabled procurement services provider delivering cost reduction and savings through strategic sourcing and procurement transformation.

Based out of Willow Grove, PA, and Chicago, IL, Source One adds a strong Fortune 1000 customer base representing manufacturing, finance, life sciences, retail, CPG, and more industries to Corcentric's roster of more than 6,000 customers. Source One is an industry-recognized thought leader in the procurement space, and brings sourcing-related services and technology to complement Corcentric's procure-to-pay solutions.

"When Source One was founded, its mission was to be the best procurement services provider - quality and service being paramount in executing our work," said Steven Belli, CEO of Source One. "Sharing our focus on innovation and customer service, Corcentric gives us an opportunity to expand our sourcing and procurement optimization services to more customers and across larger sets of spend data. We're thrilled to be part of the team."

"The acquisition of Source One was a natural fit for Corcentric and we are excited to add their sourcing and procurement expertise to our portfolio of procure-to-pay solutions," commented Matt Clark, President and COO of Corcentric. "As companies look to gain more visibility into their spend and better manage cash flow, the acquisition of Source One gives us an opportunity to share our innovations with more customers while increasing value across finance and procurement."

About Corcentric
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.

This year, the company unified its AmeriQuest and Corcentric brands under the Corcentric name, emphasizing its commitment to helping companies to unlock new potential within their enterprise.

About Source One
Source One Management Services, a Corcentric company, is a premier procurement services provider and strategic sourcing consulting firm. Since 1992, Source One's team of spend management experts has supported best-in-class organizations in optimizing spend management and procurement operations. Source One serves as an expansion of client's existing teams, saving them time and resources by applying collective experience, tools, cross-industry best practices, and customized solutions. To learn more, visit sourceoneinc.com.