Tungsten Network shortlisted for 2017 Payments Awards
20th September 2017: Tungsten Network has been shortlisted in the ‘Best Cross-Border Payments Solution (Business)’ category at this year’s Payments Awards, in recognition of its innovation in supporting global trade.
Organised by FStech and sister title Retail Systems, the 5th Annual Payments Awards are a benchmark in the card and payment sector, distinguishing those individuals, companies and organisations who have launched and implemented the most outstanding payments solutions, initiatives and projects during the past year.
Tungsten Network was shortlisted in the cross-border payments category for innovation in bringing its solution to new markets. As the global leader in compliant electronic invoicing, Tungsten Network extended its reach this year when India became the 48th country in which it creates valid, legally accepted documents. Through its partnership with Payoneer, Tungsten Network has enabled businesses to receive cross-border payments quickly, securely and at low cost.
Rick Hurwitz, Tungsten Network CEO, said: “Payment technologies evolve quickly, so it’s imperative to stay ahead of the competition and we’re incredibly proud to be shortlisted for this award.
“These are exciting times for Tungsten Network as we continue to innovate and drive forward the e-invoicing revolution, particularly with our recent landmark expansion into India. International trade is booming and we are uniquely positioned to support buyers and suppliers across the world with their cross-border payments. Through our services, many of the complexities of trading globally are removed and customers experience a hassle-free, efficient service.
“We are committed to supporting our customers where they are doing business, and have invested significant time and effort into our global compliance programme to secure agreements with the relevant authorities in each region. By doing this, we can ensure that our customers across the globe have the opportunity to embrace automation and reduce friction in their processes.”
More than 250,000 businesses across the globe use Tungsten Network’s global electronic platform to ensure invoices are compliant first time. In 2016, the business processed transactions worth more than £155bn for organisations such as Alliance Data, General Motors, GlaxoSmithKline, Mondelēz International, IBM, Kellogg's and the US Federal Government.
Other Payment Awards categories include ‘Lending Initiative of the Year’, ‘Payments Start-up of the Year’ and ‘Technology Provider of the Year’. This year’s winners will be chosen by a panel of judges and announced at the Payments Awards Gala Dinner and Ceremony on 16th November 2017, at the London Marriott Hotel in Grosvenor Square.
Harriet Holbrook 0117 906 7017 / 07767 883923
Lizy Kidwell 0117 906 4571 / 07527 331796
About Tungsten Network
Our vision is to be the world's most trusted business transaction network by using data intelligently to strengthen the global supply chain.
Tungsten Network is a secure e-invoicing, purchase order services and workflow platform that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses.
Tungsten Network processes invoices for 76 percent of the FTSE 100 and 67 percent of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 48 countries, and last year processed transactions worth over £155bn for organisations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Mondelēz International, Henkel, IBM, Kellogg's and the US Federal Government.
Trusted, passionate and proven, Tungsten is making the digitisation of global commerce between buyers and suppliers faster, easier and smarter.