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

February 2015

  1. Royal Caribbean Cruises selects DocuSphere (Tungsten) for AP automation

    Tungsten’s workflow product integrates seamlessly with the JD Edwards Accounts Payable software that Royal Caribbean currently uses: reducing the time it takes to process invoices, cutting costs associated with invoice processing, and improving visibility on its spend with suppliers.

  2. Tungsten’s Early Payment helps 21000 UK SMEs get paid before invoice due dates

    With nearly 60% of UK SME’s experiencing having to wait for 60 days or more for payment in the last 6 months, a recent study reveals, Tungsten Corporation is helping to finance UK companies by providing them with access to cash.

January 2015

  1. “Have you received my invoice? When will it be paid?”

    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.

December 2014

  1. 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.

  2. Tungsten’s Early Payment is now live in the UK and in the USA, to reach the USD 1,000 bn goal

    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.

November 2014

  1. Tungsten introduces flat fee tariff structure for all of the connected suppliers

    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.

  2. LegalShield, LOGIS and Agnico Eagle Mines select Tungsten for invoice automation and data capture

    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.

October 2014

  1. Strategic partnership between Tungsten and Trustweaver for global compliant e-invoicing

    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…

  2. Tungsten successfully completes acquisition of DocuSphere

    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.

September 2014

  1. Short: Siemens selects Tungsten to process over 7 million invoices

    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.