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

Paris, November 14 - 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/