Tungsten Nets Another E-Invoicing Deal

Global manufacturer of constructing and mining equipment Caterpillar recently announced that it will use the Tungsten Network for its e-invoicing needs. As reported by Global Trader, Caterpillar will use the Tungsten program for its suppliers across the UK and Poland.

According to a Tungsten spokesperson, buyer organizations that utilize OB10 e-Invoicing through the Tungsten Network can reduce their invoice-processing costs by 60 percent.

“Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind,” the spokesman told the news source. “Tungsten offers supply chain financing to suppliers and helps buying organizations profit by applying real-time spend analytics to its vast repository of line-level invoice data.”

Tungsten Corporation Group CEO Edmund Truell said in a statement that his organization was delighted to work with Caterpillar. Truell added that the deal with Caterpillar was “yet another milestone as we realize our vision to create the world’s largest electronic trading network.”

In the middle of May, General Electric announced that it had contracted with Tungsten to roll out a multi-year e-invoicing program into every GE operation globally. That partnership could involve potential invoice volumes of over 16 million per year. 

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