Corcentric taps new head of tech

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Cherry Hill-based financial management software firm Corcentric announced Feb. 1 that it tapped longtime technology executive Sunil Padiyar as its chief technology officer.

Padiyar, who according to his LinkedIn page began as CTO in December, will oversee Cocrentric’s “global technology roadmap and vision,” the announcement reads.

He’ll be responsible for integrating supply chain software Source One, cost management software Netsend and payroll processing software Determine into the Corcentric platform.

The landmark purchase of Source One and Netsend was announced in mid-January and was financed through $80 million from private equity firm BregalSagemount. Corcentric announced the $32 million purchase of Determine in February 2019.

All these products, Padiyar said, will help “companies optimize how they purchase, pay and get paid.”

“The current business environment and last 12 months have really shown enterprises the value that technology and a properly executed digital finance transformation can bring to bottom lines,” he added.

Before Corcentric, Padiyar spent five years as the chief digital and technology officer at FacilitySource, a software for handling facilities maintenance and long-term capital upgrades. He was heavily involved in the sale of FacilitySource to commercial real estate giant CBRE.

“Sunil brings an impressive track record of generating revenue and building world-class technologies in many of the verticals that we operate in,” Corcentric president and chief operating officer Matt Clark said in a prepared statement.