ATLANTA, September 2, 2014 /PRNewswire/ --
The global electronic trading
network to enhance e-Invoicing with workflow and
connectivity services
Tungsten Corporation plc (LSE:TUNG), the global electronic
trading network, is delighted to announce that through its wholly
owned subsidiary, Tungsten Network Inc, it has conditionally agreed
to acquire DocuSphere, a provider of accounts payable automation
services, to bring additional strength to the Tungsten
offering.
Many companies require workflow and connectivity tools to
support their invoice-automation initiatives, in particular when
handling invoice exceptions and achieving straight-through
processing. The combination of Tungsten's global supplier portal
and e-Invoicing services with DocuSphere's workflow and
connectivity technology will help companies streamline their
accounts payable functions from receipt of e-Invoice to payment.
The integration of DocuSphere with Tungsten Network adds
certified integration tools that cover over 80% of the ERP software
used by Fortune 2000 companies to Tungsten's services. It also
provides Tungsten with increased control over the speed, cost, and
quality of implementation with no need to rely on third parties or
middleware providers.
As DocuSphere becomes part of Tungsten's global e-Invoicing
network, customers will gain access to its compliant e-Invoicing
services, supplier portal, dedicated supplier engagement and
technical capabilities. All customers will enjoy greater
flexibility and will become part of a wider community of blue-chip
multinational organizations.
Commenting on the acquisition, Rick
Hurwitz, CEO, Americas, at Tungsten Network, Inc, said, "The
combination of Tungsten and DocuSphere demonstrates our commitment
to delivering a secure, smart and fast e-Invoicing proposition. The
addition of DocuSphere's talented team and technologies will allow
us to take more control of the results we deliver to our customers,
and enhance our already powerful e-Invoicing services."
Bradley White, Chief Executive
Officer and President of DocuSphere, said, "Increased control,
on-time payment and straight-through processing are key goals for
any forward-thinking finance function. Customers are looking for
integrated, end-to-end solutions that automate and digitize their
invoice processes, and enable them to trade with confidence. By
becoming part of Tungsten Network, we will provide additional value
and services to our community of current and future customers, and
greater opportunities for our employees."
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by
enabling customers to streamline invoice processing, improve
cash-flow management and make better buying decisions from their
detailed spend data.
Buyer organizations that join Tungsten Network, built on OB10
e-Invoicing, can reduce their invoice-processing costs by 60%.
Suppliers benefit from efficiencies, greater visibility of their
invoice status and peace of mind. Tungsten offers supply chain
financing through Tungsten Bank to suppliers and helps buying
organizations profit by applying real-time spend analytics to its
vast repository of line-level invoice data.
Tungsten serves 53% of the Fortune 500 and 66% of the FTSE 100
by connecting the world's largest companies and government agencies
to their thousands of suppliers around the globe. It is compliant
in 46 countries, and last year processed transactions worth over
$187bn per year for organizations
such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General
Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and US Federal
Government.
Tungsten Corporation joined forces with OB10 in 2013 to create
the world's largest electronic trading network.
About DocuSphere
Founded in 1993 and headquartered in Perrysburg, Ohio, DocuSphere's entire focus is
on the development, enhancement, maintenance, implementation, and
support of its own DocuSphere solution for accounts payable
automation with Oracle Validated Integration for JD Edwards and
Oracle E-Business Suite and SAP certified integration. DocuSphere
delivers "The DocuSphere Difference: The preeminent connected,
business-driven AP automation solution - delivered by experienced
people for a fixed fee."
DocuSphere has developed its DocuSphere All-in-One for Accounts
Payable solution suite, which features certified integration for
SAP and Oracle Validated Integration for Oracle E-Business Suite
and JD Edwards. DocuSphere's invoice automation workflow solution
leverages ERP data, security model, and business rules, real-time,
live, without the need for one-off integration or offloading of ERP
data into a separate system. DocuSphere automatically matches
purchase order-based invoices against ERP
PO and receiving data while managing any exceptions which
may occur, manages non-purchase order invoices for coding and
approval, and automatically posts transactions into the respective
ERP system for payment via standard ERP system interfaces.
Contact: Sandra Higgison, Head of
Global Communications, +44(0)20-7280-7973
sandra.higgison@tungsten-network.com.