Tungsten network e invoicing solutions12/7/2023 ![]() Tungsten Network is the most extensive compliant business transaction network in the world. It lays the groundwork for an international standard of financial performance for any organization that uses its services. Its solutions enable an entirely digitized invoice process through its integrated network of buyers, suppliers, and other business ecosystems. Still, its sole mission has remained the same: to establish automated practices for companies to complete tedious, time-consuming, and error-prone tasks. Tungsten Network’s technology has advanced significantly since its inception in 2000. Tungsten Network assists its clients in streamlining their operations by providing products that focus on digital tax filing and electronic invoicing. Tungsten Network recognizes the value of innovation – its specialists actively work to improve compliance technology and enhance all the procedures and techniques involved. Most Prestigious Companies to watch in 2022Īs technology develops and evolves, innovation in the field of compliance delivers more efficient and effective solutions.Best Innovative Companies to Watch in 2022.Laboratory Information Management System (LIMS).Clinical Trial Management System (CTMS).Tungsten Corporation joined forces with OB10 in 2013 to create the world’s largest electronic trading network. It is compliant in 45 countries, and processes transactions worth over $180bn per year for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg’s, and US Federal Government. Tungsten connects the world’s largest companies and government agencies to their thousands of suppliers around the globe. Tungsten offers supply chain financing to suppliers and helps buying organisations profit by applying real‐time spend analytics to its vast repository of line‐level invoice data. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.īuyer organisations that join Tungsten Network, built on OB10 e‐Invoicing, can reduce their invoice- processing costs by 60%. We look forward to bringing our secure, smart, fast electronic invoicing network to even more territories in the coming months.” I’m delighted to give our customers access to another important geography where they can reap the financial and environmental benefits of e-Invoicing. “ Achieving Saudi Arabian compliance brings us closer to that objective. “ Our goal is to become the world’s largest electronic trading network and allow our customers to transact seamlessly with suppliers around the globe,” says Edmund Truell, Group CEO, Tungsten Corporation. The first buyer customer to use this service within the region is King Abdullah University of Science and Technology (KAUST), which joined the network in 2013. The addition of Saudi Arabia takes the number of compliant countries on the Tungsten Network to 45 and helps even more organisations streamline their processes around the world and achieve straight-through processing. London, 09 June – Tungsten Corporation plc (LSE:TUNG) now delivers compliant e-Invoicing in Saudi Arabia.įollowing in-depth research and technical development, Tungsten Network, the global e-Invoicing network built on OB10, enables customers to send and receive domestic and offshore electronic invoices that comply with Saudi Arabian commercial law and qualify as a legal invoice. Tungsten Network delivers compliant e-Invoicing for customers in Saudi ArabiaĬustomers can trade with confidence in 45 compliant countries through the global e-Invoicing network
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