Corcentric, a global provider of procurement and finance solutions, has partnered with Flexo Label Advantage Group (FLAG), a community of small to mid-size label converters, and Independent Printers Worldwide (IPW), a buying group for the printing industry, to provide Managed Accounts Receivable (AR) services for the companies’ members and vendor partners.
For years, FLAG has helped independent label converters unlock savings through negotiated savings and rebate programs, while IPW has been committed to providing procurement solutions to independent printers through strategic sourcing, spend analysis, and shared services. The two companies, because of their similar industries, share several supplier programs with their respective members.
These new alliances simplify FLAG and IPW members’ interactions with vendor partners by consolidating billing and payments into one centralized platform. The goal is to remove manual processes and provide a seamless experience.
FLAG and IPW members will be able to purchase from any vendor partner under a single line of credit, while vendor partners will see benefits like guaranteed on-time payments for every invoice, the elimination of bad debt, and risk-free growth opportunities.
“Corcentric, FLAG, and IPW share a common mission of eliminating the friction that slows down business,” said Matt Clark, President and CEO Corcentric. “These partnerships reflect that shared mission –replacing complexity with simplicity to create long-term value for FLAG and IPW members, as well as vendor partners.”
Corcentric’s Managed AR solution combines technology and support to accelerate cash flow, reduce DSO, and eliminate bad debt risk. All purchases are delivered through an invoicing portal, so procurement and accounts payable teams have real-time visibility into the status of every invoice received.
https://boardconvertingnews.com/corcentric-teams-with-flag-ipw-to-streamline-procurement/
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