Corcentric to Streamline Travel Booking Processes for CTS Systems with Managed Accounts Receivable Services
May 08 2024 - 9:00AM
Corcentric, a leading global provider of best-in-class procurement
and finance solutions, announced today it will provide Managed
Accounts Receivable (AR) services to CTS Systems, a preeminent data
management company in the travel management field.
By integrating Corcentric’s Managed AR offering into its
existing platform, CTS Systems will now offer its corporate travel
agent and hotel customers a single-source solution that enhances
the accuracy and speed of commissions and payments with
consolidated, digitized, and secure invoice processing.
“For more than two decades, we have worked vigorously to
eliminate cost and friction for our clients and believe this new
capability will be a game-changer within the travel industry,” said
Carl Roberts, founder and president at CTS Systems. “By partnering
with Corcentric, we’re able to leverage our existing platform to
vastly improve the flow and speed of payments to hotels and
commissions to booking agents. And with a like-minded business
culture and mindset, we know Corcentric will provide the highest
quality customer-first services our clients have come to expect
from CTS Systems.”
Corcentric’s Managed AR solution replaces bad debt, payment
risks, high days sales outstanding (DSO), and overworked teams with
guaranteed business outcomes. Corcentric supports customers with a
combination of subject matter experts, financial services, and
software that liberates working capital trapped in an AR ledger –
giving customers the cash and peace of mind needed to grow a
business.
“We hear all of the time that people don’t want hassles when it
comes to travel – they want it to be convenient, easy, and fast,”
said Matt Clark, president and CEO at Corcentric. "The same is true
of those operating within the corporate travel and booking
industry. CTS has a long history of solving for pain points that do
just that, and we are honored to work with them on this latest
venture to bring our Managed AR onto their platform to ease the
burden of the invoicing and payments process for their
clients.”
About CTS SystemsCTS Systems provides revenue
solutions management across the spectrum of collection and
reporting for the global travel industry. CTS Systems’ services
range from basic reporting to full management of financial systems,
from payment reconciliation for aging commissionable revenue to
critical reporting of non-commissionable channels. With more than
25 years of experience in this specialized area, CTS Systems has
developed in-depth relationships with more than 5,000 hotels
globally to provide a seamless service to its clients.
About CorcentricCorcentric is a leading global
provider of best-in-class procurement and finance solutions. We
offer a unique combination of technology and payment solutions
complemented by robust advisory and managed services. Corcentric
reduces stress and increases savings for procurement and finance
business leaders by forming a strategic partnership to diagnose
pain points and deliver tailor-made solutions for their unique
challenges. For more than two decades, we've been a trusted partner
who delivers proven results. To learn more, please visit
www.corcentric.com.
Media Contact for Corcentric:Rob TaceyDirector,
Communications & Public RelationsPress@Corcentric.com(302)
897-3094