A recent e-mail from Tungsten Network, built on OB10 e-Invoicing, told existing small UK suppliers (who use their portal solution) that from 1 July 2014, all suppliers on the network will be given 52 invoice transactions per annum at no cost on the Tungsten Network Portal. They explained, “Whether you send 10 or 100 invoices a year, you will have 52 transactions at no charge that we will replenish on your anniversary. Should you need more than 52 invoices in a year, we have introduced a simple flat rate of £1.50 per invoice.”

Suppliers who use the Integrated Solution for higher-volume suppliers get 520 free transactions per annum.

Tungsten Network then went on to explain, that, “This new tariff will be frozen for domestic and cross-border transactions for the remainder of 2014. In the meantime you can enjoy our global service, which is now fully tax and legally compliant in 46 countries.”

Introducing Tungsten Bank plc for early payment

Tungsten Network also gave a low key announcement that, via their newly acquired Tungsten Bank, “we are launching a service that will allow you to take early payment on your approved invoices, giving you greater control over your cash flow. Visit our website for more details and to register your interest.”

Tungsten Network listed the following benefits of renewing the current e-invoicing contract:

• secure and guaranteed invoice delivery:  no more paper invoices getting lost in the mail
• predicable payment: while your customers can process your invoices faster and you will be able to choose when to get paid with our early payment service through Tungsten Bank
• secure online connection: send invoices easily with no need for additional software or hardward
• 24/7 access and reporting: higher processing transparency and better cash-flow management
• tax compliance: we enable compliant e-Invoicing
• easy and cost-efficient invoicing at any time.

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CTMfile take: The battle has now really started between the e-invoicing platforms and early payment providers. Corporate treasury can only benefit.