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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March 2015

  1. Tungsten Network awarded place upon UK’s G-Cloud 6 Framework

    The G-Cloud and associated Digital Marketplace simplifies the need for the public sector to tender competitively for the services covered by the framework. G-Cloud 6 should allow the UK public sector to maintains its easy access to the benefits of e-Invoicing and spend analytics.

  2. Tungsten selected by Honda Logistics to automate its AP processes

    HLNA currently processes 10,000 invoices per month and expects its volume to increase by 30% over the next three years. Automating its accounts payable processes will reduce overhead costs and increase efficiency.

  3. Tungsten gets the go ahead for e-invoicing in India

    Tungsten Corporation has received nationwide approval in India to deliver services related e-invoices. Tungsten also helped effect a change in legislation, allowing all service-related invoices to become ‘e’ in India.

  4. Tungsten Bank launches deposit offering

    The proceeds will be used to provide additional invoice financing via Tungsten Early Payment. Tungsten Early Payment enables businesses to enhance their cash flow by taking early payment on selected invoices.

  5. Tungsten authorised for supply chain finance in Germany, France and Italy

    Tungsten Early Payment allows SME’s to simply and swiftly maximise their cash flow, at the click of a button.
    To date, this service has been offered to US and UK companies and Tungsten is now preparing its invoice financing solution for these mainland European markets.

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.