We earlier already mentioned that Tungsten was in the process of buying Docusphere. Tungsen now announced that is has successfully completed its acquisition of DocuSphere in September 2014. Docusphere is a provider of accounts payable automation solutions.
For Tungsten this acquisition significantly extends Tungsten’s invoice-automation technologies to help companies streamline their accounts payable functions, adhere to tax and regulatory compliance, and have greater transparency of the entire invoice-to-pay process.
Combining Tungsten’s global supplier portal and e-Invoicing services with DocuSphere’s workflow and connectivity solutions will enable companies to reduce invoice exceptions and increase straight-through processing, and enhance Tungsten’s already powerful e-Invoicing services.
Rick Hurwitz, CEO, Americas, Tungsten Network:
- “As a result of this acquisition, DocuSphere customers will gain access to Tungsten’s e-Invoicing network, Tungsten’s existing clients will benefit from an even more secure, smart and fast e-Invoicing solution, and all customers will enjoy greater flexibility while joining a wider community of blue-chip multinational organisations.”
- “The market was pleased to see that Tungsten is expanding its portfolio of invoicing, payment, finance and analytics solutions. By joining forces with DocuSphere we have introduced complementary skills and technology that will strengthen the Tungsten offering and continue to help our clients automate their accounts payable systems. ”
Bradley White, President of DocuSphere:
“As expected, the integration of products and people is proceeding smoothly, partly thanks to the experience we gained working together on a joint account prior to the acquisition. I’m confident that all Tungsten customers, including those brought on board by the former DocuSphere, will benefit greatly from the combined product offering.”
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