General Electric has contracted with the Tungsten Network to roll out a a multi-year e-Invoicing program into every GE operation globally, according a a release earlier today. The partnership could involve potential invoice volumes of over 16 million per year.
“Tungsten Network is accelerating its expansion, with another new customer choosing us to offer electronic invoicing services globally – on a scale comparable with the entire volume of invoices being transacted over the network last year,” said Tungsten group CEO Edmund Truell.
The signing of such a major deal follow last week’s announcement that OB10, a global B2B invoicing network and Tungsten Corp. will now jointly be the Tungsten Network, and with OB10’s technology has been integrated into Tungsten’s operations. PYMNTS reported on that story here.
Tungsten Network connects supply chains and enables payment through compliant e-invoicing. Through its Analytics service, it gives companies immediate line-level insight into their spend data and Finance activities. Additionally, suppliers have access to flexible supply-chain financing through dedicated funds.
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