Apollo Tires (U.S.) has implemented Corcentric’s 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.
“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,” Laurence Bennett, assistant vice president, commercial vehicles tires at Apollo Tires, said. “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.”
“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,” Matt Clark, president and CEO of Corcentric, said. “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.”
