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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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.

  2. Leading pharmaceutical and healthcare companies choose Tungsten for e-invoicing

    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.

  3. Tungsten Network successfully renews its ISAE3402 and ISO27001 compliance

    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.

  4. Charles Bryant: bridging the cultural e-invoicing gap between EU and LATAM?

    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.

  5. Tungsten takes over DocuSphere, strengthening its e-invoicing offering

    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!

August 2014

  1. Tungsten provides the Kerry Group with global e-invoicing capabilities

    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.