G&P adds financial process automation to build visibility into future growth
July 24, 2018 — Corcentric, a fast-growing provider of procurement and financial process automation solutions, announced today that they have signed an agreement with G&P Trucking to deliver a full suite of financial process automation solutions that will help the South Carolina-based company track their spend and improve working capital management. G&P is an international logistics company providing supply chain solutions throughout the world.
The trucking company, founded in 1936, specializes in next-day and same-day service, and operates a fleet of about 520 tractors and 1,500 trailers from about a dozen terminals in the Carolinas, Georgia, Virginia, Tennessee, and Texas. The agreement expands a long-running partnership whereby Corcentric has provided a capital equipment management strategy for G&P. Under the new agreement, G&P will implement the Corcentric Approval Workflow, Purchase Order, and Payments solutions across the entire company.
“G&P’s goal in building upon the relationship with Corcentric is to better serve our customers and employees by improving operational and cost efficiencies,” said Billy Lynch, Vice President-Controller, at G&P Trucking. “Through leveraging Corcentric’s expertise in financial process automation, we are building a competitive advantage that benefits the entire company and enables us to bring added value to our clients.”
“One of the refreshing aspects about working with G&P is that they have been very forward thinking in seeking to adopt innovation that provides those financial and operational efficiencies. As a result, they can provide better service to their customers,” said Nina Doherty, Regional Vice President for Corcentric. “It really is a case where they are demonstrating the motto of G&P’s leadership to ‘never miss an opportunity to serve others’.” Financial process automation solutions not only address the paper issue, but enable strategic initiatives company-wide.”
Tom Toton, of Corcentric’s Capital Equipment Solutions, added, “As a former Corcentric customer myself and trucking industry CFO – it was evident that financial process automation would be an excellent catalyst within G&P to reduce and control costs. I was delighted to see that my instincts in adding this part of our solution set into the mix were on target.”
A recent report by Ardent Partners, The State of ePayables 2018, noted that best-in-class organizations are implementing e-invoicing at a rate nearly double their competitors, 71% vs. 38%. G&P has been working with Corcentric to optimize the Total Cost of Ownership of its capital equipment and recognized the competitive advantage they would gain by addressing the entire spend cycle.
