Tech

Corcentric Relocates Headquarters in Cherry Hill to Accommodate Rapid Growth

Procurement and Financial Process Automation Provider Hit Major Milestones in 2018 & Now Serves over 6,000 Customers, Facilitating $38 Billion a Year in Transaction Value

Corcentric, a fast-growing provider of procurement and financial process automation solutions, has relocated its headquarters to better accommodate the needs of a rapidly growing organization. The company’s client base now exceeds 6,000 companies, reporting revenue of $103M in 2018. The new headquarters is located at 200 Lake Drive East in Woodland Falls Corporate Park in Cherry Hill.

“For more than two decades, New Jersey has been our home and we’re committed to continuing to grow in this state. As more and more companies realize the efficiency and productivity gains enabled by modernizing their procurement and finance functions – and the cost-savings and better supplier relationships that go along with it – we expect the momentum we experienced last year to continue throughout 2019.”

In 2018, notable company milestones included unifying its AmeriQuest Business Services and Corcentric brands under the Corcentric name to more clearly communicate the company’s commitment to delivering innovative procurement and finance solutions. The company also secured a $200 million senior credit facility, which is being used to support growth organically and via acquisitions in the US and abroad. Company growth was supported by the acquisition of Source One Management Services, based in Willow Grove, PA, which expanded Corcentric’s sourcing and procurement services.

Corcentric is discussing these industry trends and outlook at its annual Corcentric Symposium, February 13–15 in Orlando. Attendees will hear from a roster of industry executives and famous entrepreneurs, including Terry Jones (founder of Travelocity.com), Stephen Moore (renowned economist) and Bill Taylor (co-founder of Fast Company).

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