Author Archives: Michelle St. Rose, Corcentric



One of the Largest U.S. Universities Transforms AP Process through Automation

Imagine receiving 180,000 invoices a year from more than 50,000 vendors. Now imagine manually processing those invoices, one by one, using a paper-based operation. That was exactly the payables processing approach that the University of Florida, one of the largest universities in the nation, was operating under. Besides being a costly accounts payable process, the manual operation led to inaccuracies, loss of visibility into working capital and missed discounts.

Randy Staples, University of Florida’s associate controller, knew something needed to change. The state institution, serving 50,000 students, not only deserved something better, it deserved a best-in-class solution to its accounts payable issues, and Staples was determined to find it. His search led him to Corcentric, a provider of cloud-based financial process automation solutions.