Welcome to Invoice Status Service
Frequently asked questions
Tungsten Invoice Status Service (ISS) enables suppliers to have full visibility of their invoice processing and payment status with their buyer, irrespective of their invoice submission method. Invoice status service means suppliers have access to the progress of their invoice from submission to payment. The service is completely free to suppliers who are enrolled on the network. To find out how you can make the most of ISS read our frequently asked questions.
How does Tungsten Invoice Status Service benefit suppliers?
Tungsten Invoice Status Service enables buyers to keep suppliers informed about the status of their invoices at every stage of the invoice processing cycle. ISS enables suppliers to predict future payments and significantly reduce time spent calling the buyer accounts payable department for updates on the status of their invoice.
What information do buyers provide for suppliers on Tungsten Invoice Status Service?
Buyers can update a standard set of statuses that informs suppliers about the status of their invoices. These include the following:
- Received: Your buyer has received your invoice and has initiated the approval review process.
- Approved: Your buyer has approved your invoice for payment.
- Paid: Your buyer has paid your invoice.
- On Hold: Your invoice is on hold pending a standard invoice approval task by the buyer.
- Exception: Your invoice requires additional approval steps by the buyer.
- Rejected: Your buyer has rejected your invoice.
Suppliers can check their invoice status by logging into the Tungsten Network portal.
How much does Tungsten Invoice Status Service cost?
ISS is an added value service that is provided completely free of charge to suppliers.
How can suppliers access Tungsten Network’s Invoice Status Service?
If you are an existing supplier you can access Tungsten Invoice Status Service by logging on to the Tungsten Network portal.
Can suppliers be notified of their invoice status on the go?
The Tungsten Invoice Status Service allows suppliers to set up direct alerts.
When can I access Tungsten Invoice Status Service?
Suppliers registered on the Tungsten Network can view the status of their invoices 24 hours a day, 7 days a week by logging into the Tungsten Network portal
How can a supplier that isn’t on the Tungsten Network access the service?
If you do not have a Tungsten Network account please complete the simple registration process here to take advantage of this service.
- The Tungsten Network registration process is quick and easy and enables any supplier to create an account if they are doing business with a buyer on the network.
- Once a supplier has created a Tungsten Network account they can log in and activate a buyer relationship to start using Tungsten Invoice Status Service.
- For a supplier with multiple buyers, the activation process only needs to be completed once.
What other benefits does Tungsten Network offer suppliers?
Tungsten Network offers a range of other benefits and services that enable suppliers to stay in control of their invoices:
- Visibility of where invoices are in the approval process and when they have been paid
- Notification of each process stage (direct communication e.g. text message)
- Self-service solution
- Quick and easy online registration process
- Find my buyer service
- Log in through the Tungsten portal to check the status of the invoice process and payment
- Access to Tungsten Early Payment
- Eligible buyers’ invoices can be financed at the suppliers’ discretion
- Early payment on approved-to-pay invoices to support cash-flow needs
- Non-recourse, selective and confidential invoice discounting
- 100% advance rate, minus a transparent and competitive discount fee
- Dynamic pricing based upon when they choose to sell their invoices to Tungsten Network
- Reliable source of financing – consistently available
What is Tungsten Early Payment?
Tungsten Bank offers Tungsten Early Payment, a service that facilitates payment on approved invoices of your choice when you want, and at a lower cost than most banks or factoring providers.
The benefits of Tungsten Early Payment include:
- Flexible pricing dependent on your customer and the remaining invoice duration
- Costs are lower than most factoring solutions
- Free of fees, compared with numerous charges imposed by traditional banks
- The risk of payment from your customer moves to Tungsten
- Your customer won't know if you choose to take early payment on their invoice
- Quick and easy online registration and invoice financing process
- Take confidence doing business with the UK-regulated Tungsten Bank
To register your interest click here.