Tungsten Network, which provides supply chain automation technology, has debuted its e-billing product for accounts receivable (AR) departments.
Tungsten Network e-billing is designed to allow AR departments to send 100 percent of their outbound invoices through a single service provider, and have them delivered in the preferred format of the recipient, regardless of whether their customers are registered on Tungsten Network. The solution is partner to Tungsten Network’s e-invoicing solution.
Tungsten Network e-billing customers will digitally send their outbound invoice data to Tungsten Network via single connection. Invoices are processed by Tungsten Network, validated in accordance with global tax-compliance standards, and delivered both on- and off-Network. Tungsten Network delivers the invoices in the recipient’s required format, whether digital, a PDF email attachment, or via a printing and postal service.
Finance departments can have access to all of their digital invoice data through a single portal, and to Tungsten Network’s value-added products like its analytics solution.
According to the company, its finance platform handles $217.5 billion in transactions annually. Tungsten Network mines data from these transactions into actionable insights for its customers.
“Offering a comprehensive billing service represents a strategic move to open up Tungsten Network’s technology to even more businesses,” said Richard Hurwitz, Tungsten Network’s CEO, in a statement. “E-billing customers send all invoices via the same connection and in the same way, whether on- or off-network. As part of our strategy to add complementary adjacent services, we have now enhanced the value proposition we offer to our customers by allowing both AP and AR departments to take the lead in introducing digitization and to get better visibility on their finances. This also allows Tungsten Network to initiate engagements with its customers from multiple points.”
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