Global electronic trading network Tungsten Corporation announced it has conditionally agreed to acquire DocuSphere, provider of accounts payable automation services, through its wholly owned subsidiary Tungsten Network.
In combination with its global supplier portal and e-invoicing services, Tungsten plans to leverage DocuSphere’s workflow and connectivity technology to help companies streamline their accounts payable functions from receipt of e-invoice to payment.
DocuSphere’s integration in the Tungsten Network will add certified integration tools that cover more than 80 percent of the ERP software used by Fortune 2000 companies and provide control over the implementation without the need for third parties or middleware providers.
Through the global e-invoicing network, DocuSphere customers will have access to Tungsten’s compliant e-invoicing services, supplier portal, supplier engagement and technical capabilities.
“The combination of Tungsten and DocuSphere demonstrates our commitment to delivering a secure, smart and fast e-invoicing proposition,” stated Rick Hurwitz, CEO, Americas, at Tungsten Network. “The addition of DocuSphere’s talented team of technologies will allow us to take more control of the results we deliver to our customers and enhance our already powerful e-invoicing services.”
“Increased control, on-time payment and straight-through processing are key goals for any forward-thinking finance function,” stated Bradley White, chief executive officer and president of DocuSphere. “Customers are looking for integrated, end-to-end solutions that automate and digitize their invoice processes, and enable them to trade with confidence. By becoming part of Tungsten Network, we will provide additional value and services to our community of current and future customers, and greater opportunities for our employees.”