Corcentric Announces its Acquisition of B2B Payments Provider Vendorin

Corcentric, a global provider of business spend management and revenue management software and services for mid-market and Fortune 1000 businesses, recently announced its accquisition of B2B payments provider Vendorin from Juvo Technologies. The deal is filled at a price of $100 million, and other financial terms were not disclosed.

The US-based payment company has developed its proprietary “Inroll” technology, enrolling more suppliers than banks or traditional virtual card providers. As a result, the blue-chip customers of this company will be able to enjoy substantially higher revenue, reduced costs, and stronger relationships with suppliers.

According to the official press release posted by Corcentric, with the new acquisition, the company aims to combine its strong supplier network and Vendorin, making it easy to further monetize transactions through payments, supply chain finance, and group purchasing. In addition, it is also helpful for moving payments to electronic forms and increasing overall supplier acceptance, putting Corcentric customers in a position to pay and get paid in a simple and elegant transaction.

Commenting on the acquisition, Matt Clark, President and COO at Corcentric, said that as part of Corcentric, Vendorin will greatly enhance their payment and supply chain finance capabilities that are a key piece of their turn-key suite of Procurement, AP, and AR solutions.

Robert Johnson, COO of Vendorin, stated that integrating Corcentric’s AP- and AR-focused software and financing capabilities will be revolutionary and bring their payments program management to enterprise companies globally.