Tungsten Network

Tungsten Network
Tungsten Network, built on OB10 e-Invoicing, is the global trading network at the core of Tungsten Corporation plc (LSE:TUNG). It simplifies and streamlines the complex invoice-to-pay process to enable prompt payment. Compliant in 44 countries across Europe, the Americas and Asia, Tungsten Network can reduce invoice-processing costs by 60% and deliver an ROI in less than a year.
Tungsten Network connects many of the world’s largest companies and government agencies to their thousands of suppliers around the globe. It processes transactions worth over $180 billion per year for organizations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, IBM, Kellogg’s, US Federal Government and Whirlpool.
Tungsten offers supply chain financing to suppliers on the Tungsten Network and can help organisations profit by applying innovative spend analytics to its vast repository of invoice data


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Recent posts

July 2014

  1. Compliant e-invoicing in UAE: country number 46 for Tungsten

    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.

June 2014

  1. Caterpillar extends Tungsten e-invoicing commitment to Poland and the UK

    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.

  2. Tungsten extends compliant e-invoicing to 45th country: Saudi Arabia

    Countries all over the world start implementing e-invoicing. And with it, they mostly develop fiscal e-invoicing schemes that differ from state tot state. That is why it is important to have a service provider that provides compliance in the states where your customers/suppliers are situated.

    Recently Tungsten added Saudi Arabia to its already impressive list of countries where they help organisations to streamline their processes and to achieve compliant straight-through processing.

  3. Tungsten Network is now a proud supplier of UK’s G-Cloud 5 Framework

    Managed by the Crown Commercial Service, the G-Cloud 5 Framework is a pan government collaborative framework agreement. It is used by UK public-sector bodies, such as (1) central government departments and their arm’s length bodies and agencies, (2) non-departmental public bodies,(3) NHS bodies and (4) local authorities.

    For Tungsten Network this accreditation is as a major step in strengthening its relations with the public sector and its operations for two reasons.

May 2014

  1. Tungsten receives formal UK PRA approval to start the Tungsten Bank

    The Board of Tungsten has received approval from the UK’s Prudential Regulation Authority (PRA) for the formal change of control in the recently acquired FIBI. The fully UK authorised Bank will be re-named tot the Tungsten Bank and will soon start offering supply chain finance: a major opportunity for UK SME’s as well as entire supply chains.

    And there is more good news: Tungsten has today begun providing invoice discounting services to selected US customers.

  2. GE contracts Tungsten Network to process over 16 mln einvoices per year

    Tungsten Network (Formerly known as OB10) has been contracted by General Electrics to rollout a multi-year electronic invoicing and adoption programme into every GE location on the world. The potential invoice volumes to be processed can grow to as much as a whopping 16 million per year. GE also decided to use Tungsten’s Invoice Status Service: to give suppliers visibility of the status of their invoices.

April 2014

  1. OB10 and DocuSphere team up and ink their first joint customer

    OB10 and DocuSphere have formed a partnership and inked their first joint customer. A major European organization is leveraging the integrated accounts payable automation technology that features OB10 e-Invoicing with the DocuSphere All-in-One solution.

    The new customer will use the combined service to automate its global accounts payable processing, eliminate paper and support its environmental initiatives.

  2. From OB10 to Tungsten. What has been accomplished in 2014 sofar?

    Every now and then OB10 Tungsten provides us with an update on their transition from an e-invoicing service provider to a supply chain finance provider. As as a supply chain finance provider the e-invoice is just a means (though a very important one) to provide the valuable services in the near future.

March 2014

  1. OB10 and Comprova now provide Brasil with compliant straight through e-invoicing

    Brazil is a leader in e-Invoicing with a government mandate and market accustomed to automated invoice technology. In addition to complying with the complexity of tax and e-Invoicing regulations, companies are looking to streamline their invoice processing.

    The strategic alliance with Comprova enables OB10 to meet the demands of its customers, and deliver compliant e-Invoicing and straight-through processing to businesses operating in Brazil.

  2. What has Tungsten achieved since it bought OB10? Time for an update

    Some of the achievements sofar are listed in this article. Like its compliance in 44 countries. But also: Their focus on a purely digital approach means that Tungsten shall be shutting down the legacy interoperability arrangements that benefit its competitors more than they benefit Tungsten’s customers and which could introduce non-compliant invoices into the Tungsten network. Hmmmm, interesting.