Tungsten Network

Tungsten

Tungsten aims to be the world’s most trusted business transaction network by using data intelligently to strengthen the global supply chain.

Tungsten Network is a secure e-invoicing platform that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cashflow management. The network also provides users with real-time spend analysis through Tungsten Analytics, and offers access to Tungsten Early Payment, a form of alternative finance for businesses.

Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100.  It enables suppliers to submit tax compliant e-invoices in 47 countries, and last year processed transactions worth over $187bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg’s and the US Federal Government.

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Recent posts

September 2016

  1. Tungsten Network expands spend analytics offering, with new free-to-use platform

    This resource will allow buyers to analyse their own invoice data, offering comparisons against past spending patterns, often uncovering significant opportunities to make savings.

August 2016

  1. Smart tactics in e-procurement could save UK SME’s 106 billion GBP

    If British SMEs could realise even a small percentage of the estimated savings by e-procurement, profitability would soar and working capital as well as cash flow would be significantly improved, allowing businesses to be more agile and flexible.

July 2016

  1. The four biggest differences between processing XML and PDF e-invoices

    There are two schools of thought in e-invoicing. The first school believes an electronic invoice is a structured data file, rather than an unstructured file. The second school includes the receipt PDFs received by email. In this article Tungsten explains the biggest difference between XML and PDF e-invoicing

June 2016

  1. Tungsten makes invoice processing easy

    Over the past three years, Mondelez has gone from processing 80,000 invoices digitally a year to 500,000. E-invoicing has enabled the company to streamline its processes, increase efficiency and significantly reduce costs.

May 2016

  1. Tungsten’s supply chain financing volume tripled in just 12 months

    After being on a rocky trail for some time, things are now looking promising aging for Tungsten. In the financial year (FY) that just ended, Tungsten financed invoices for 79 suppliers totalling over £100mln, compared with £32mln for 38 suppliers in FY15!

  2. UK SMEs are losing up to £9bn every year due to invoice fraud [Research]

    According to Tungstens research, nearly half (48%) of all businesses that were surveyed reported receiving a fraudulent or suspicious invoice in the last year.

  3. Kevin Wilbur becomes Tungsten’s President of AP Automation; driving global expansion of e-invoicing, PO services, workflow and analytics

    Tungsten Network has promoted Kevin Wilbur to the role of President, AP Automation. He will lead the expansion of digital invoicing, workflow and analytics capabilities across Tungsten’s global customer base, helping more finance and procurement departments.

April 2016

  1. Prabhat Vira appointed president of Tungsten Network Finance (supply chain finance)

    As President of Tungsten Network Finance, Vira is working closely with Richard Hurwitz, the CEO of Tungsten Corporation, to develop a radical “100 day plan” which will shape his strategy for the business.

December 2015

  1. Tungsten helps catch out false invoice claims in London borough

    The London Borough of Bexley has successfully foiled a number of fraud attempts. The local authority processes its invoices using the electronic invoicing platform provided by Tungsten Network, which means fraudulent invoices that might otherwise be paid out on are rejected.

  2. Tungsten Network receives first TrustWeaver-Verified Trust Mark

    Tungsten Network, part of Tungsten Corporation, is a global e-invoicing, invoice finance and spend analytics company working to help companies improve cash flow and make better buying decisions.
    About the Trustweaver Verified

    The TrustWeaver-Verified programme helps businesses better understand the varieties of tax compliance covered by a third party operator’s services. Tax regulation, and the many requirements that stem from value-added-tax (VAT), cover a variety of invoicing and accounting functions.