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.
Tungsten Chief Executive Edmund Truel:
- “We are delighted that Siemens, one of the largest companies in the world, has entrusted Tungsten Network and our e-Invoicing services to automate its invoice-to-pay process”
- By bringing automation to Siemens’ global shared services, we will help the company achieve straight-through processing, significant cost savings and a stronger supply chain, while also increasing our supplier penetration in their sectors.”
