Corcentric Implements COR360 Accounts Payable Automation Solution with Moran Towing Corporation
COR360 will provide Moran with the technology to increase accuracy and efficiencies in their accounts payable processes.
March 26, 2014, MCLEAN, VA — Corcentric, a leading provider of SaaS Accounts Payable automation solutions hosted in the cloud, today announced an agreement to implement its AP automation solution for Moran Towing Corporation, a leading provider of marine towing and transportation services.
The integration of COR360 into Moran’s Accounts Payable processes will help the company bridge the last automation gap related to their invoice workflow. As part of the solution, Moran will be using the COR360 platform to streamline the invoice approval workflow for faster processing and to reduce costs associated with manual processing. According to a study by the Aberdeen Group, organizations that automate these processes can shave 30% off the cost of processing and can decrease processing time from 17 days to less than five. Additionally, with COR360’s automated processes in place, Moran will be able to process a higher volume of invoices and at a faster speed with increased accuracy.
“We are excited to integrate the COR360 Accounts Payable automation solution into our current AP processes. By incorporating the most advanced AP automation technology into our current processes, we will be able to increase visibility of our vendor invoices, ensure compliance of appropriate invoice approval levels and reduce processing time; a few of the many rewards we will reap with the streamlined invoice processing. Additionally, we were very impressed with the customer support that Corcentric has continued to provide. Their support allowed us to quickly implement and start using COR360 for our invoice processes” stated Susan Tessler, Controller for Moran.
“Industry leading organizations are beginning to understand the full value of replacing their manual and paper-intensive AP processes with streamlined, automated solutions,” stated Rob DeVincent, Vice President of Product Marketing at Corcentric. “Our clients understand that by adopting SaaS-hosted AP automation tools, they stand to not only save significant amounts of money, but can also accelerate payment cycles, leverage discount opportunities, and move their teams to more strategic projects as a result of implementing ZeroTouch, paper-free operations.”
About Moran Towing Corporation
Moran is a leading provider of marine towing and transportation services — a more than 150-year-old corporation that was founded as a small towing company in New York Harbor and grew to preeminence in the marine industry. The cornerstone of its success has been a long-standing reputation for safe, efficient service, achieved through a combination of first-rate people and outstanding vessels and equipment.
Moran provides ship assist and towing services in 16 ports on the U.S. East and Gulf Coasts and operates a fleet of 17 ocean barges that transport dry and liquid bulk commodities to U.S. and overseas markets. All are operational 24 hours a day, 365 days a year. For more information call 203.442.2800 or visit www.morantug.com
Corcentric, a wholly-owned subsidiary of AmeriQuest Business Services, Inc., provides cloud-based financial process automation solutions that have revolutionized how the world’s largest organizations manage and protect their financial assets. By connecting best practices with deep expertise, Corcentric’s Accounts Payable and Accounts Receivable automation solutions enable organizations to reduce costs, streamline processes, and provide unmatched visibility executives need to make critical business decisions. For more information, visit corcentric.com.