Tungsten is bringing its eInvoicing solution to India.
An announcement Wednesday (March 15) said Tungsten’s entrance into the country makes it India’s first to provide compliance eInvoicing; the company’s users can now send and receive invoices across India and generate legal invoices for goods across eight states.
According to Tungsten, its expansion into India could only come after it worked to clarify the legality of digital signatures. Both national and state-level officials provided that clarification to Tungsten, the firm said.
“India is one of the fastest growing economies in the world and the move from a cumbersome paper-based approach to a frictionless digital model is great news for any business looking to trade with India vendors,” said Tungsten Network CEO Rick Hurwitz in a statement. “Our expansion into the country was driven by customers who are looking to conduct more business in this increasingly important region. Now they will have access to fast, efficient processing while simultaneously reducing the risk of fraud.”
According to Hurwitz, Tungsten’s India entrance also supports the nation’s own goals to combat fraud.
“Tungsten’s entry into India also supports the government’s commitment to digitization as it seeks to tackle corruption and mitigate its vast black economy,” he said. “Several countries around the world have already embraced eInvoicing to fight fraud and tax evasion, and Tungsten is uniquely positioned to support Indian business and government in its digital development.”
The company received support from PriceWaterhouseCoopers and TrustWeaver to ensure its solutions in India were compliance. TrustWeaver will provide the Tungsten platform with compliant digital e-signatures.
Hurwitz added that Tungsten will continue its collaborative efforts to ensure its services remain compliant as India readies to launch its new Goods and Services Tax rules later this year.