In a recent episode of theCUBE’s AnalystANGLE series, theCUBE Research Principal Analyst Shelly Kramer sat down with Matt Clark, chief executive officer and president of Corcentric Inc., to explore how chief financial officers can streamline B2B commerce while maintaining tight cost controls. As organizations grapple with digital transformation challenges, the conversation revealed compelling insights into modern financial operations.

Clark highlighted a significant shift in the CFO’s role, noting that finance leaders are increasingly becoming the driving force behind organizational growth and strategic initiatives.

“CFOs are being tasked with becoming that driver of organizational growth and strategic initiatives, especially around finance, procurement and technology,” he said. This evolution marks a departure from traditional approaches where digital transformation typically fell under IT leadership.

The discussion emphasized how companies often struggle with fragmented solutions to complex problems. Clark pointed out that many organizations have accumulated point solutions they must manually integrate, creating inefficiencies in process and data flow.

As Kramer noted, “As a leader today, I want to spend my time doing the things that bring deep core value to the business. I don’t want to be messing with little details.”

And chances are good your employees feel the same.

Digital transformation: CFOs face mounting pressures

Corcentric, which processes over 20 million transactions and $150 billion in spend annually, takes a more holistic approach.

“The more complex, the messier, the better,” Clark said, describing Corcentric’s sweet spot in serving industries with high transaction volumes and complex trading partner relationships.

The company has deep roots in transportation and logistics but has expanded into manufacturing, healthcare and, somewhat surprisingly, the food and beverage sector, where quick-service restaurants face unique challenges managing multiple locations and suppliers.

Today’s CFOs face mounting pressures, from adapting to higher interest rates and inflation to managing remote workforce transitions. Clark emphasized the importance of data management, noting that while companies have more data than ever, converting it into actionable information remains a significant challenge.

Corcentric’s approach combines technology solutions with managed and advisory services, what Clark describes as their “special sauce.” This consultative arrangement helps clients achieve faster time to value and ensures long-term success.

“Let’s diagnose before we prescribe,” Clark explained, describing their methodology for working with clients.

The conversation turned to practical examples, with Clark sharing several customer success stories. In one case, Corcentric helped a major tire manufacturer streamline their accounts receivable processes, managing complex relationships with large customers like FedEx, Walmart and Amazon. Another example involved an energy company optimizing payments across 3,700 suppliers, transforming their accounts payable into a revenue-generating function.

The role of AI in modern financial operations

Corcentric recently integrated generative AI capabilities into their managed accounts payable invoice processing, automating traditionally human-intensive tasks.

Kramer highlighted a key benefit: “The reality of it is as we look at our internal teams, what we’re now relying on AI solutions to do are parts of jobs that people didn’t really love anyway. That way we can kind of redirect their efforts on tasks that are not only more interesting, infinitely more interesting, but that add deeper value to the business.”

As the conversation concluded, Clark offered crucial advice for organizations considering financial operations modernization. He emphasized the importance of breaking free from “the way it’s always been” mindset and taking a holistic view of transformation. Perhaps most importantly, he cautioned against delay: “If now’s not the right time, it’s not going to be any better time as your business continues to grow and scale and the challenges get more complex.”

The discussion underscored a crucial reality: In today’s rapidly evolving business environment, relying on status quo operations poses significant risks. Successfully removing friction from B2B commerce requires a careful balance of technology, expertise and strategic vision — all while maintaining strict cost controls.

As Kramer noted, the combination of “people, processes, and technology” remains the key to unlocking business growth and agility in modern commerce.

Here’s theCUBE’s complete interview with Matt Clark:

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