Corcentric to Streamline Travel Booking Processes for CTS Systems with Managed Accounts Receivable Services

CHERRY HILL, N.J., May 8, 2024 – 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.”