A 2016 Billentis market report estimates more than 370 billion electronic invoices will be transmitted around the globe this year alone. And with complex mandates varying by region, by country, and even by city, e-invoicing is never a one-size-fits-all solution. The complexity required for meeting every compliance mandate while easily facilitating such a critical business process cannot be understated.
For a global powerhouse like London-based Tungsten Network, an e-invoice platform provider serving well over half of Fortune 500 companies, compliance is anything but a small deal. A huge part of compliance hinges on reliability, and it is the cornerstone of ensuring machine-to-machine integration — the lifeline of this international business. Reliability, across a network approximating 200,000 buyers and suppliers spread over 47 nations, means that uptime remains a certainty at all times — not most of the time.
For Tungsten, ensuring that uptime meant implementing an easy-to-use solution capable of handling its millions of monthly data transfers. Tungsten’s main business objectives for its implementation included:
- Shoring up security
- Adding stability
- Reducing vulnerability
The ability to scale to accommodate future growth was also top of mind given that the volume of e-invoices exchanged tends to increase by 2 percent to 3 percent every year. With Tungsten supporting the compliant exchange of millions of invoices from tens of thousands of suppliers in nearly 50 countries – more than any other e-invoicing enterprise out there – anything less than a robust B2B-centric integration solution just wouldn’t do.
Tungsten found integration technology up to the task of automating data movement and enabling systemwide uptime on annual transactions worth an estimated $187 billion. A secure managed file transfer and integration platform delivers the stability and reliability necessary for maximum business continuity of Tungsten solutions, and Tungsten’s vast network of buyers looking to streamline their invoice processing also have migrated to the platform, benefiting from unparalleled analytical visibility along every step of every transaction.
The result is smoother e-invoicing execution for everyone – for buyers, for suppliers, and for Tungsten.
This post from Lincoln Jopp, chief operating officer of Tungsten Network, unveils how Tungsten all but eliminated downtime, ensured compliance, and lowered Tungsten’s IT costs by enabling comprehensive cloud migration.