- 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
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.
On the Tungsten Blog, Charles Bryant posted an interesting article about the way e-invoicing is excuted in Mexico. As the title suggests, Charles Bryant carefully explores whether Europe should follow this approach.
All in all it is intriguing to ask whether the current path of EU liberalised e-invoicing (without B2B mandates) should perhaps be flipped for a path where mandated e-invoicing and fiscal efficiency go hand in hand.
Bull’s eye! Tungsten has –under conditions- bought DocuSphere. As you all probably know, DocuSpheres a provider of accounts payable automation services. Tungsten’s global supplier portal and e-Invoicing services combined with DocuSphere’s workflow and connectivity technology should help companies streamline their accounts payable functions from receipt of e-Invoice to payment even better!
Kerry Group is a leader in the food ingredients industry and has already been processing invoices electronically for 8 years (since 2006) in the UK and Ireland with Tungsten Network. As you all know, the Tungsten Network is the global trading network built on OB10 e-Invoicing.
Tungsten has won a new contract with BT Group PLC under which it will provide electronic invoicing, purchase order services, and an invoice status service to BT’s global operations.
Tungsten and BT first signed an agreement to partner in 2003, when Tungsten was called OB10. The new contract extends the contract for Tungsten to provide electronic invoicing to BT’s entire global business.
Having completed a thorough review of Emirati commercial law, Tungsten Network now allows customers to send and receive electronic invoices that qualify as a legal invoice in the UAE.
So why are the United Arab Emirates so important to Tungsten, you might ask. Well, that is because the UAE is one of the Middle East’s largest economies, one of the world’s most important business hubs and appointed by Tungsten clients as a key market.
Caterpillar is one of the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Caterpillar is already a customer of Tungsten (as you know by now: the global e-Invoicing network built on OB10). It has now extended its contract to let Tungsten provide an e-Invoicing programme to its suppliers across the UK and Poland.