- 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
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.
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.
Established with the express aim of shaking up the supply chain finance industry, the acquisition of Fibi is seen as a key element in the firm’s plans to provide suppliers with access to accelerated invoice settlement on a transparent and simple to execute basis.
In the six months since floating on AIM, the firm claims to have made strong progress overall in integrating its financing and analytics capabilities into the e-invoicing network; and in organising the combined Tungsten group to be capable of large-scale growth.
The 2014 Tungsten customer awards were presented at the annual customer event in London and celebrate companies that have gone the extra mile in rolling out their electronic-invoicing initiatives and acting as champions for process automation in Purchase to Pay.
By acknowledging the extra efforts made to eliminate paper invoices, the winners offer examples of best practice and encouragement to other organisations looking to achieve einvoicing and straight-through processing.
e-Invoicing is mandated for all Mexican companies. Due to recent legislative changes, organisations can no longer self-generate electronic invoices but must send them through one of 77 authorised service providers, such as Buzón E. By becoming an OB10 reseller, Buzón E is introducing additional value to its fiscally compliant invoicing services by bringing touchless processing to Mexican companies.
Tungsten Corporation, accelerator of global trade through its combination of acquired e-Invoicing network OB10 with spend analytics and supply chain financing, has announced the addition of three senior level executives to its team: Lincoln Jopp (COO), David Newberry (CMO) and John Hall (Head of Major Accounts).
With the new e-invoicing technology, PNC commercial customers selecting this new technology will invite their suppliers to submit invoices through the OB10 network, a technology already in use by major U.S. trading partners. No hardware or software installations are required by suppliers.
For invoices that continue to be sent by paper during and after the OB10 enablement period, PNC’s imaging platform may be utilized to digitize all of the invoice data.
Today Tungsten (the organisation that acquired OB10 last year September) announced that Blackstone Tactical Opportunities has agreed a $200mln funding deal that will allow Tungsten to provide customers supply chain finance. Tungsten, valued at $225mln before this deal was made public, is aiming to acquire the UK arm of the First International Bank of Israel to create an invoice discounting business.
The deal shows that OB10, now a Tungsten company, is looking what lies well beyond e-invoicing: supply chain finance.
From January 2014, new Turkish regulations will require certain companies to adopt e-Invoicing. To help organisations remain compliant, OB10 and Digital Planet (a major Turkish e-Invoicing solution provider) announced a partnership to bring compliant electronic invoicing and process automation to Turkey.
In addition to adhering to regulatory requirements, the alliance offers organisations the benefits of streamlined processes, improved payment performance and the ability to capture early payment discounts.
A while ago, OB10 was acquired by Tungsten. The website “Proactiveinvestors.co.uk” wrote an article on the contract wins by OB10 that are now part of Tungsten: Alliance Data, Caterpillar, Premier Farnell and DS Smith. It has also signed a reseller agreement with Buzón E and a supply chain financing agreement with a top 10 US bank for. It shows a bit the path Tungsten is taking into 2014.