Archive for Supply Chain Finance
Every now and then OB10 Tungsten provides us with an update on their transition from an e-invoicing service provider to a supply chain finance provider. As as a supply chain finance provider the e-invoice is just a means (though a very important one) to provide the valuable services in the near future.Read More
Fundbox acts as a microlender for small businesses that cannot afford to wait for money from clients that can often take up to 90 days to arrive. Fundbox identified this as an underserved space, in that banks tend to be reluctant to lend to small businesses, particularly in small amounts.
Fundbox says that the business-to-business invoice area is worth $74 trillion, a much bigger market than the $3 trillion business-to-consumer one that includes competitors like Visa, Paypal and Square.
eFinans,provides e-Invoice Integration, tailor-made e-Invoice support, e-Invoice archiving, e-Ledger application services – as well as online banking solutions through its e-Commerce portal in Turkey. Since September 2013, companies in Turkey have to comply to new mandatory requirements in e-invoicing. Please click here to download and examine the detailed offering of eFinans, especially for BCCT (Britisch Chamber of Commerce of Turkey) members.Read More
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.Read More
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.