Tungsten Network, the global business transaction network, has expanded its invoicing services with a new purchase order delivery and acknowledgment service for its global customers.
The new features were created after Tungsten Network faced increasing requests to automate the order process that works with its core e-invoicing service. Before their release today, the expanded services were beta tested with select existing customers.
The new service enables Tungsten Network members to digitally send purchase orders, and enables the recipients to either accept, reject or amend those purchase orders, with responses returned in minutes, according to the company. The service is also meant to improve the first-time match rate between invoices and purchase orders, negating the need for businesses to communicate via email and phone, while also reducing the number of purchase order-related errors before invoices are created.
With PO delivery, users can upload purchase orders directly onto Tungsten’s digital platform. Businesses operating on the network can convert purchase orders into a variety of invoice formats, while also being able to perform compliance checks against customers.
“Tungsten Network now affords buying organizations the opportunity to deliver digital purchase orders to their suppliers,” said CEO Richard Hurwitz in a statement. “The enhanced service is helping finance departments operate more efficiently … Eliminating some of the most common obstacles found along the supply chain, such as manual PO data entry and delayed confirmations, affords businesses the time and ability to explore better ways of driving business growth, while also strengthening their supplier network.”
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