Continued Adoption of e-Invoicing to Optimize Procure to Pay

LondonJune 30, 2014Tungsten Network, the global e-invoicing network built on OB10, was selected by Caterpillar, a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, to provide  an e-invoicing program to its suppliers across the UK and Poland.

To achieve optimal levels of efficiency within purchase-to-pay functions, organizations are introducing electronic invoicing to replace paper-based, manual processing, which is prone to mistakes and causes payment delays that can impact relations with suppliers.

Invoice automation brings consistency to the way companies handle transactions by improving purchase order compliance and payment on time, enabling valid accounting transactions (VAT) and contract compliance, and strengthening supplier relations.

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