Corcentric Recognized on Annual Inc. 5000 List For 11th Time
CHERRY HILL, N.J., Aug. 17, 2021 /PRNewswire/ -- Inc. magazine today revealed that Corcentric is No. 3574 on its annual Inc. 5000 list, the most prestigious ranking of the nation's fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy's most dynamic segment—its independent businesses.
This marks the 11th year Corcentric has made the annual Inc. 5000 list, including last year's ranking of No. 4,105. The recognition comes during a period of sustained growth supported by the recent acquisition of high-growth B2B payments provider Vendorin, a bolstered C-suite to drive global expansion efforts, and a more deeply integrated end-to-end suite of source-to-pay and order-to-cash solutions.
"The need for businesses to optimize how they purchase, pay, and get paid has only been magnified since the beginning of the pandemic. Corcentric's recognition on the Inc. 5000 list is a testament to the meaningful outcomes we create for businesses by increasing EBITDA and enhancing working capital," said Doug Clark, founder and CEO of Corcentric. "We're excited to further our growth and innovation in both source-to-pay and order-to-cash, which have created a network effect for our proprietary B2B payments solutions to grow exponentially."
Corcentric's technology solutions and advisory services support $320 billion of annual B2B commerce across more than 2,300 customers. At the beginning of the year, the company consolidated Source One, Determine, and Netsend under the Corcentric name, as well as announced its largest acquisition – a $100 million purchase of B2B payments provider Vendorin from Juvo Technologies.
Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year's list also proved especially resilient and flexible given 2020's unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.
"The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled," says Scott Omelianuk, editor-in-chief of Inc. "Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we've lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people."
About Corcentric
Corcentric is a global provider of business spend management and revenue management software and services for mid-market and Fortune 1000 businesses. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit corcentric.com.
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Andrew Jennings
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