- Software integration
- Supplier on-boarding
- Customer On-boarding
- E-invoicing (B2B)
- Software integration
- Digital signatures
- Supply chain finance
- Latin America
- North America
- ISO/NEN Audit
- Offshore Implementation Manager – OB10 – Malaysia
- Inside Sales / Business Development Specialist
- Marketing Communications Assistant – OB10/Tungsten – London, UK
For AP employees these are two questions they probably hear so many times during the business day that they probably hear them in their sleep. Thankfully, as part of its solution portfolio, Tungsten Network offers a supplier portal that delivers invoice statuses back to suppliers.
Insight Investments buys billions approved-to-pay, investment grade receivables from Tungsten Network
Insight has agreed to purchase approved-to-pay, investment grade receivables originated through the Tungsten Network e-Invoicing platform. The funding to be provided is expected to total several billion pounds. Tungsten now has all the required funding at this stage for its invoice finance proposition, so that Tungsten no longer needs to pursue alternative financing options.
This move is part of the company’s progress towards its medium term goals of:$1,000 bn of invoice value on the Tungsten e-Invoicing Network, $100 bn of invoice financing through Tungsten Finance, $10 bn of savings for clients using Tungsten Analytics.
The change in tariff structure is part of an effort to “remove any perceived barriers to adoption” on the suppliers’ end. Tungsten expects that once all users are on the new tariff structure, more than 80% of the suppliers that are currently using the platform no longer need to pay transaction fees to send an electronic invoice.
LegalShield (an Oklahoma-based provider of pre-paid legal services), Local Government Information Systems (LOGIS, an association of local government municipalities in Minnesota), and Agnico Eagle Mines (a major mining company headquartered in Toronto with primary operations in Quebec) selected Tungsten to deliver invoice automation workflow and advanced data capture technology.
Tungsten Network announced to have inked a strategic partnership with TrustWeaver. TrustWeaver’s legally compliant electronic signature, time-stamping and tax authority clearance functions had already been integrated into Tungsten Network’s document creation and validation workflows. However, this strategic partnership between Tungsten and Trustweaver implies a next step…
We earlier already mentioned that Tungsten was in the process of buying Docusphere. Tungsen now announced that is has successfully completed its acquisition of DocuSphere in September 2014.
This deal significantly extends Tungsten’s goal to help companies streamline their AP, adhere to tax and regulatory compliance, and have greater transparency of the entire invoice-to-pay process.
Tungsten stated to have been selected by German engineering conglomerate Siemens AG to bring e-Invoicing to its business and suppliers around the world. According to Tungsten, Siemens receives and processes more than 7 million invoices annually from its supplier base. To put things in perspective: Tungsten Network processed 13.4 million transactions last year.
The latest organisations to have selected Tungsten Network include Fresenius Medical Care and Dana-Farber Cancer Institute. Seven of the twelve largest pharmaceutical companies in the world, ranked by revenue, now transact with their suppliers through Tungsten Network.
Independent auditors recently completed a thorough assessment of Tungsten Network’s internal controls and concluded that they adhere to the ISAE 3402 framework. External auditors have also successfully completed an ISO 27001 surveillance audit.