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Tungsten Network

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Tungsten Network

OVERVIEW

Tungsten Network is the world’s largest, compliant business transaction network leveraged by clients across more than 190 countries to exchange electronic orders, invoices and other transactional documents. Tungsten Network’s suite of services allows customers to realize world-class KPIs, enhanced touchless processing metrics and genuine business agility. The solution is ERP, currency, and language agnostic, so it can go wherever your business takes it.

SOLUTION

Combining Coupa’s Global Technology Platform for Business Spend Management and Tungsten Network’s Total AP solution provides a powerful tool to ensure straight-through-processing, helping mutual customers on their journey to world-class performance.

Tungsten validates, augments, and populates data to ensure truly electronic invoices drive higher matching rates across tax compliance, business validation and process requirements. Higher data quality and better first-time match rates mean more visibility and confidence for your suppliers and faster cycle times and lower cost per invoice for our customers.

Together, Coupa and Tungsten drive the world-class efficiencies you strive for in your organization.

Three Pillars Driving Total AP

  1. 100% Invoice Digitisation – Streamline your operation, remove unnecessary back-office processes and allow your front office to thrive. There’s no software or hardware to install – exchange invoice data with suppliers in any format, we’ll do the rest.
  2. Country Compliance – Government mandates are on the rise globally. Tungsten’s complainant network lets you future proof your business and stay on top of legal obligation, while reducing the potential for fraud and human error.
  3. Supplier Enablement – Any-to-any formatting lowers the bar of adoption, but allows for better penetration of your invoicing initiative. For Tungsten, our suppliers are our customers too, so we ensure they are engaged, educated, on-boarded and supported along the way.

Tungsten Network’s Total AP solution leverages the world’s largest, compliant electronic invoicing Network and adds a best-in-class digitisation solution for Paper and PDF invoices. The outcome is 100% digitisation of all invoices flows.

Tungsten Network

By digitizing AP, Tungsten Network customers drive costs from the business, find new efficiencies and deliver value to the broader organization often inconceivable in a manual, paper-based environment.

This is all with the aim of driving AP improvements and operations that will be the foundation for the business to achieve world class.

How it works

Streamline and simplify AP processes from initial receipt of invoices right through to your customers’ payment submission, providing exception management and complete visibility of invoice data throughout. Your suppliers can check their invoice status online, reducing the need for calls and emails, avoiding added costs and wasted time, whilst increasing productivity and savings for both you and your suppliers.

  • Flexible Delivery Options - Process invoices received via direct integration with Tungsten Network including paper-based documents, emailed PDFs, and supplier portal.
  • Invoice Status Service - Your customers are engaged in the process and able to oversee their invoicing digitally, without needing to contact you.
  • End-to-end visibility - Monitor payment processing in the ERP system and pull back the associated payment data to provide end-to-end visibility from invoice receipt to payment.
  • Analytics - Access real-time, line-level data to identify price variances, ensuring spend compliance to improve procurement decisions.

KEY METRICS

Over 300,000 companies—including 70% of the Fortune 500 – use Tungsten Network to send and receive business transactions during their normal course of business. The Network has over 10 million B2B connections and processes more than $200 billion dollars in annual spend.

The size and scope of the Network is only the beginning. Tungsten supports tax and legal invoice compliance in more than 50 countries—ever more important in today’s ever changing economy ripe with government mandates and legislation.

Customers can expect high levels of digitisation, significant touchless processing improvements and confidence that their transaction flows are in good hands.