How E-Invoicing and Early Payment Helps SMEs



tungsten Network headquartered in the heart of London is the global leader in en voicing invoice finance and spend analytics working with thousands of small and medium-sized businesses every day experts at tungsten explain how they can help companies achieve not only cashflow stability but growth to fulfill their ambitions tungsten helps SMEs in two ways firstly it allows them to have confidence when they're sending their invoice to their customers that the invoice has been received and to know where it's in the approval process so if it's been approved and when it's going to be paid secondly we're allowing our suppliers to take finance on those invoices and get paid early so tungsten early payment is a fantastic way for SMEs you actually gain cash in that moment by clicking one button if we think on average it takes sixty days in the UK to get paid it really is a fantastic opportunity for them to to grow their business and have cash available when they need it both large companies or small whether you are submitting or receiving invoices on the on the network control of your cash flow and ability to influence your working capital is critical for growth and stability in the network and in your trading environment so we think by doing that we can stimulate both growth in a network and also in the wider economy being able to take advantage of this incredible platform that we have is a global platform for electronic invoicing and offering financial services on top of that in a much more efficient way than banking infrastructure can do that creates real value to both our customers and shareholders what I really love about working at tongues is what it is we're doing for our buyers and our suppliers there is so much potential which is unrealized whether it be in the buyers use of spend analytic data or the millions in fact trillions of pounds and dollars which are waiting in invoice land which suppliers can't use to grow their business what we're doing is producing and offering freedom for both buyers and suppliers to fulfill their visions and that's a very exciting prospect

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