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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August 2015

  1. Late payments put a quarter of UK SMEs at risk of insolvency

    The average SME is owed £40,857 in unpaid invoices. When applied across the UK’s 5.2 million SMEs, the total owed could be as much as £212 billion, reveales a survey conducted by Tungsten Network

May 2015

  1. Tungsten partners with Goldsmiths university, establishes Big Data research centre.

    The Tungsten Centre for Intelligent Data Analytics (TCIDA) will undertake research and development into advanced artificial intelligent techniques for undertaking “Big Data” analysis and develop more advanced proprietary analytics software to maintain Tungsten’s leading edge.

  2. Tungsten partners with Buzon-e, opens e-invoicing platform in Mexico

    Together they offer a streamlined process to create a legally compliant invoice that also has the necessary commercial information and makes invoice processing more efficient, so suppliers can get paid quicker.

April 2015

  1. Short: Tungsten wins second customer this week!

    Tungsten announced its second customer win of the week: a leading house building and construction group has selected Tungsten for e-invoicing and purchase order services. This announced followed the win of Morgan Advanced Materials as a new US customer.

  2. Morgan Advanced Materials chooses Tungsten to deliver AP efficiencies

    Its ERP implementation partner strongly encouraged to evaluate Tungsten’s solution based on its strength in the market. Tungsten’s All-in-One For JD Edwards AP product integrates with JD Edwards software and enables the processing of all invoices.

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.