Corcentric, a provider of procurement and financial process automation solutions, announced it has 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 spending and improve working capital management.

G&P is an international logistics company providing supply chain solutions. The trucking company, founded in 1936, specializes in next-day and same-day service, and operates a fleet of roughly 520 tractors and 1,500 trailers from a dozen or so 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, 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 at 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 companywide.”

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 percent vs. 38 percent. 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.