Corcentric Capital Equipment Solutions (CCES), a provider of business spend management and revenue management software and services, announced it has promoted Ray Ellingsen to Senior Vice President of Syndication & Operations. Ellingsen is responsible for the continued growth and profitability of the CCES business and the development of the systems necessary to manage the operation’s rapidly growing portfolio.

“Ray has been a strong leader of our syndications team and has developed the banking relationships that have allowed Corcentric’s Capital Equipment Solutions group to grow to a $250 million per year syndications portfolio,” said Patrick Gaskins, Corcentric’s SVP Fleet Solutions.

Ellingsen joined Corcentric in 2014 as Vice President of National Syndications and served most recently as Vice President of Capital Equipment Solutions. He has held senior management positions with banks and technology companies, developing equipment lease financing and maintenance programs.

A resident of Wheaton, IL, Ellingsen received a bachelor’s degree in finance from Southern Illinois University, Carbondale, and a Master of Business Administration from the Lake Forest Graduate School of Management.

“I look forward to attracting and developing new talent and to use my experience and connections to scale CCES business growth with some of the most sophisticated and largest companies in the world,” said Ellingsen.