![]() ![]() Tungsten processes invoices for 60% of the FTSE 100 and 68% of the Fortune 500. Its mission is centered on enabling a touchless invoice process, allowing businesses around the globe to gain maximum value from their invoice process. Tungsten is a leading global electronic invoicing and purchase order transaction network. ![]() Tungsten Corporation (AIM: TUNG) is the world’s largest, compliant business transaction network. Please brief our audience about your company, its USPs, and how it is currently positioned as a leading provider of billing and invoicing solutions. In the following conversation with Insights Success, Marisa Teh, Chief Product and Business Development Officer of Tungsten Network, shares the efficiency of the automation solution provided by her company.īelow are the excerpts from the interview: With its assistance, buyers can centralize their invoicing, allowing suppliers to speedily generate and distribute invoices to buyers. This multinational corporation is an ideal solution for clients from various territories to digitize their complex transaction and billing processes. In pursuit of minimizing billing errors and delays, Tungsten Network is a valuable partner for businesses worldwide. Businesses of today are working hand in hand with transaction partner companies to automate the billing process. It is one of the most common reasons for errors in billing, invoicing, or other commercial procedures. In such a scenario, the smallest error or delay can cause major inconvenience, making other parties question your organization’s business efficiency.Īs it is commonly known, the billing process is a long and tedious task. It requires professionals to manually enter data multiple times. Once the business formalities are processed, organizations today expect quick, error-free invoicing compliance from their clients. Hedge funds, followed by large PE firms, followed by strategics.In a business organization, there are multiple departments where errors are not affordable. We may see this pattern play out again in public procure-to-pay micro-cap stocks which are quite beaten up. (Some bonus Yiddish for you.) Perhaps this is the end of the battle, but who knows? Can you say “bidding war”? The premium is now about 90% above where Tungsten Network’s stock was before all of this mishegas began. Pagero upped its bid a few weeks ago to 48p and ten days ago Kofax upped its bid to 55p. The company’s stock eventually sagged back down to where it was before the Kofax offer, until late March 2022, when Pagero a public, Swedish e-invoicing network made a 45p bid. At the same time, Tungsten Network announced Accel-KKR and Jaggaer were showing some interest, though they dropped out quickly. This offer represented about a 33% premium over the price prior to the announcement. Just a few days after that post, Tungsten Network announced that Kofax, a document management company owned by Thoma Bravo, was bidding 40p for the company. I noted that despite a correction in procure-to-pay public stocks, Tungsten Network’s stock was holding up due to a flurry of recent hedge fund activity. I last wrote about Tungsten Network in early December 2021. In short, it looked ripe for acquisition. The market cap has recently been as low as about $40 million.It was fascinating to watch its roller-coaster stock over the years. (The company has only about £36 million in revenue.) The company processes £220 billion worth of invoices for F500 companies, especially in Europe, but struggled to fully monetize these flows.(See here, here, and here for example.) I’ve been intrigued by Tungsten Network for several reasons: I have written about Tungsten Network, the UK e-invoicing network, quite a bit.
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