![]() “At Tungsten, we strive to be participants in our customers’ business not just be providers to them,” states Hurwitz. The company will continue to research dynamic and disruptive ways through which data analysis can be deployed to reduce its customers’ expenses. Tungsten Network aims to be the world’s most trusted business transaction network by using data intelligently to strengthen the global supply chain. Over the last few years, Tungsten has expanded the reach of its solutions across major markets and with a higher number of suppliers. “These successes led to GSK’s BPO partner Genpact endorsing us as the service provider of choice for Genpact’s AP automation initiatives,” says Hurwitz. The invoices processed by Tungsten were paid on time which significantly benefitted GSK’s suppliers. GSK has also managed to reduce the number of supplier calls that were related to invoices by 60 percent. “GSK first rolled out e-invoicing with us in 2004 and it today receives 95 percent of its invoices electronically,” states Hurwitz. GSK, one of Tungsten’s clients, wanted to address the number of paper invoices it was processing and reduce the high volume of supplier enquiries it was receiving-70 percent of which were related to outstanding invoices. “Regardless of the client’s current technical setup, we are fully-prepared to guide them along the path to paperless processing,” says Hurwitz. Tungsten has the ability to offer “any-to-any” connections between buyers and suppliers. The variance in technical capability between prospective clients can be massive and the journey from a manual to straight-through automated system can be a long one. Suppliers through our transaction network We primarily focus on creating trustworthy,ĭigital connections between buyers and their “Our partnership with SAP is of immense value because it supports our commitment to providing easy integrations,” explains Hurwitz. Tungsten Network Workflow, being a pre-built solution, does not require clients to perform any further coding and minimizes integration requirements. Additionally, Tungsten securely manages the documents to ensure SAP availability and improve business performance. Employees with access permissions can drill down directly from SAP to look at the invoice data and other associated documents via Tungsten’s certified ArchiveLink integration. Tungsten Network Workflow leverages SAP data, business rules, and security models in real-time, thereby eliminating the need to develop custom integration tools. “We are a certified SAP partner and our Tungsten Network Workflow product is SAP-certified,” says Hurwitz. Since a majority of Tungsten’s network members deploy SAP, the company emphasizes developing solutions that seamlessly integrate with SAP, offering better customer experiences. “We believe in removing paper from the pay¬ables process and connecting Buyers to their supply chain over our secure, digital transaction network.” “Tungsten Network is all about global connections,” begins Richard Hurwitz, CEO, Tungsten Network. With an aim to providing automated and com¬pliant B2B transactions, Tungsten Net¬work, since its inception, has focused on digitizing this inefficient paper-based AP processes. Realizing the te-diousness of this task which consumes valuable business resources, corporations are moving towards automated electron¬ic invoicing and Accounts Payable (AP) systems that can seamlessly integrate with their existing infrastructure. Richard Hurwitz, CEO Enterprises worldwide increas¬ingly do business with ven¬dors around the globe and are confronted with a significant amount of paper-based invoices and man¬ual exception handling. ![]()
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