Corcentric, Inc. Partners with Apollo Tires for Enhanced Working Capital and Guaranteed Payments

Corcentric, a global provider of procurement and finance solutions, has announced a partnership with Apollo Tires (US) Inc. to offer streamlined guaranteed payments and enhanced working capital for the tire manufacturer. This collaboration will help Apollo Tires focus on strategic initiatives for business growth in the U.S., with plans to expand into Canada in the future.

Apollo Tires, based in Atlanta, GA, offers a range of truck tires designed and evaluated for North American roads. With operations in over 100 countries, the company is poised for rapid international growth. Laurence Bennett, AVP of Commercial Vehicles Tires at Apollo Tires, expressed the need for a partner like Corcentric to navigate cross-border digital payments and receivables collection.

Corcentric’s Managed Accounts Receivable (AR) solution will replace bad debt, payment risks, and high days sales outstanding (DSO) for Apollo Tires. This will help unlock working capital trapped in the AR ledger, providing the cash flow needed for business expansion. Matt Clark, president and CEO of Corcentric, highlighted the importance of this partnership in supporting Apollo Tires’ growth plans.

In addition to procurement and finance services, Corcentric has over 25 years of experience in providing comprehensive solutions for the transportation industry. Apollo Tyres Ltd., the parent company of Apollo Tires, is a leading tire brand with manufacturing units in India, The Netherlands, and Hungary.

This partnership between Corcentric and Apollo Tires signifies a strategic move towards enhancing financial operations and driving business growth in the tire manufacturing industry. For more information, visit www.corcentric.com.