CB Selects Corcentric to Drive the Digital Transformation of its Procurement and Finance Operations

CHERRY HILL, N.J., Oct. 14, 2025 (GLOBE NEWSWIRE) -- Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced today that CB, the top payment network in France, has chosen Corcentric to fully digitize its Procure-to-Pay (P2P) process.

As part of CB’s broader digital transformation strategy, this partnership represents a key milestone in modernizing the organization’s operations. It will enhance procurement practices, strengthen supplier relationship management, and implement a comprehensive system for budget management – all while ensuring compliance with upcoming electronic invoicing regulations.

With Corcentric’s Procure-to-Pay platform, CB will benefit from complete functional coverage, from purchase requests to supplier payments. Key project objectives include:

Real-time budget management
Implementation of accrual accounting
Streamlining procurement through structured workflows
Centralized management of orders, receipts, and payments
Automated three-way matching for reconciliation
Significant reduction in manual tasks and error risks
Enhanced visibility into spending and performance via advanced financial dashboards
Optimized procurement of intellectual services, a strategic focus area for CB
Integrated supplier and service provider certification system to ensure compliance, reliability, and security across the supply chain

A Strategic and Responsible Procurement Vision

By selecting Corcentric, CB reinforces its commitment to positioning Procurement as a strategic driver. The platform will enable CB to:

Roll out a more structured and ambitious procurement policy
Better oversee and manage intellectual services purchases
Strengthen collaboration with suppliers through a robust certification framework
Improve the economic and operational efficiency of its expenditures
Uphold its commitments to compliance and corporate responsibility

“With Corcentric, we are taking a decisive step toward modernizing our processes,” says Samia Bellila, Chief Financial Officer for CB. “This project supports our goals for digitalization, procurement professionalization, and rigorous budget management. We were particularly impressed by the professionalism of the Corcentric team throughout the tender process—their attentiveness, expertise, and hands-on demonstrations of the platform’s capabilities were key factors in our decision.”

Electronic Invoicing and Regulatory Compliance

The project includes native integration of electronic invoicing, ensuring full compliance with France’s 2026 mandate. Corcentric’s solution will standardize, monitor, and secure all invoicing flows, reduce administrative workload, and anticipate future regulatory changes.

“We are proud to support CB in this major transformation,” says Matt Clark, President and CEO of Corcentric. “This project perfectly illustrates the value of our Procure-to-Pay platform—delivering operational efficiency, budget control, and regulatory compliance, while empowering our clients’ procurement strategies.”

About CB Made in France payment
Groupement des Cartes Bancaires CB was set up in 1984 to implement a universal and interoperable card and mobile payment system, as well as a system for cash withdrawals from ATMs in France. It is the governing body of the CB card and mobile payment system. CB is the leading payment network in France, with over 65% of household purchases paid for with a CB card or mobile phone.

In 2024, there were:

77 million cards in circulation
44,000 Cash Dispensers
2.5 million CB merchant contracts
14.5 billion transactions (including 7.3 billion in contactless mode), representing a volume of €700 billion
2 billion e-commerce transactions

More information on https://www.cartes-bancaires.com/

About Corcentric
Corcentric 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:
Beth Price - Vice President, Performance Marketing
Press@Corcentric.com | (856) 403-7000

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/466955cd-cea5-479a-82d3-9cae98c518f4

CB Selects Corcentric to Drive the Digital Transformation

CB has selected Corcentric to lead the digital transformation of its procurement and finance operations. Through Corcentric’s Procure to Pay platform, CB will enhance efficiency, strengthen supplier relationships, and ensure compliance with France’s upcoming electronic invoicing regulations.

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