Apollo Tires Hits the Road with Corcentric’s Managed Accounts Receivable Services to Drive Growth
24 Julio 2024 - 8:00AM
Corcentric, a leading global provider of best-in-class procurement
and finance solutions, announced today that Apollo Tires (US) Inc.
has implemented its Managed Accounts Receivable (AR) services to
help the tire manufacturer focus on strategic initiatives that will
contribute to its business growth in the U.S., with plans to
introduce Corcentric’s AR services into Canada at a later date.
From its North American office in Atlanta, GA, Apollo Tires
provides a full offering of truck tires produced in an
award-winning manufacturing facility that are designed for and
extensively evaluated across North America. Starting its operations
with commercial tire business, Apollo now sells tires across
categories in more than 100 countries across the globe.
“As a company poised for rapid international growth, we need a
partner that understands the intricacies of cross-border digital
payments and the collection of receivables,” said Laurence Bennett,
AVP, Commercial Vehicles Tires at Apollo Tires. “Corcentric offers
us the technology and acumen to meet these challenges in a true
‘rubber meets the road’ fashion. Through a single portal,
Corcentric will simplify guaranteed payments, ensure the accuracy
of associated local taxes, and improve our supplier relationships,
all while helping us unlock working capital that is critical to our
business expansion.”
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 –
providing customers the cash and peace of mind needed to grow a
business.
“Apollo Tires has been a pillar within the international
transportation market for more than 50 years, with ambitious plans
to quickly grow their brand across additional continents,” said
Matt Clark, president and CEO at Corcentric. “Our Managed AR
services play a key role in helping them accomplish this through
our payments and processing technology and expertise, replacing the
tactical with strategic when it comes to everyday activities. And
with our decades-long relationships with some of the top names
within the industry on the Fleet Management side of our business,
we’re delighted to expand this customer segment and geographic
footprint with Apollo Tires by partnering with them on our Managed
AR capabilities.”
In addition to innovative procurement, payments, and finance
services, Corcentric has more than 25 years of experience providing
a comprehensive suite of services focused on the transportation
industry. Corcentric’s Fleet Management Solutions leverage strong,
long-standing relationships with fleets, OEMs, and top industry
suppliers to provide transportation companies with services needed
for a more productive operation. These services include:
- Fleet Procurement/Group Purchasing Organization (GPO): Reduce
costs by leveraging the buying power of more than 2,000
fleets.
- Fleet Financing: Optimize the fleet life cycle with flexible
financing programs.
- Fleet Remarketing: Get the best price for an asset as quickly
as possible.
- Fleet Analytics: Improve fleet performance and efficiency
through ongoing analytics.
About Apollo Tyres Ltd.Apollo Tyres Ltd. is an
international tire manufacturer and is a leading tire brand in the
world. The company has multiple manufacturing units in India and a
unit each in The Netherlands and Hungary. The company markets its
products under its two global brands – Apollo and Vredestein, and
its products are available in over 100 countries through a vast
network of branded, exclusive, and multi-product outlets.
About CorcentricCorcentric 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:Rob
Tacey Director, Communications & Public
Relations Press@Corcentric.com (302) 897-3094