Businesses simply can’t afford the delays caused by manual invoicing, says Tungsten Network CEO Richard Hurwitz in an interview with the website EuropeanCEO (full post).
Banks here in the UK, and in the US, are not making loans as readily to small business. The underwriting requirements are much more onerous. Yet they have these assets in the form of receivables – which as you’ve earlier pointed out are taking longer to be paid. And now they have the ability, the small business, to finance that receivable in a very low-friction manner through the Tungsten Network.
That’s where Tungsten plays. That’s where the volume sits. What they’re doing is providing a very disruptive approach to a conventional set of activities. And we’re doing that through digital technologies.
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