Tungsten – The Market is Talking David Gustin - June 2, 2015 11:24 AM | Categories: Payables Finance | Tags: Edi Truell, einvoicing, Tungsten Network I recently participated in a Dragon’s Den at the local high school to help provide feedback to the students’ business ideas as part of a class project. One of the students came up to me after our panel session and said he really valued my comment about listen to the market, the market talks. So what is the market saying to Tungsten Network? Certainly the investor market is saying a few things. First it’s saying we are concerned about your cash position. Second, it is saying that the revenue you receive for providing supplier portals, integration into payables, direct connections with suppliers to receive invoices (and other documents) is not enough. Third it is saying the results from early pay acceleration need to be better. Is the market right? I am speaking to many large companies and know that the whole area of connecting to their suppliers globally and managing the paper, the exceptions, the compliance, etc. is pretty much a mess and many of these companies feel they are behind the curve. I will share with you a recent comment made by a global p2p owner (its a very large chemical company): Our roll out of eInvoicing has been local business driven. Scattered across brands and no real volumes at all. Historically we are very fragmented businesses collection of different business units, no standardized ERP system so driving something from corporate level is very difficult. We are trying to drive standardization in P2P corporate templates, Pos, Vendor Invoice management solutions, but we haven’t had focus and ownership at corporate level to drive it. Lot of catching up to do. That seems to be a common theme at large corporates with global shared service centers in many markets. So while the traders are doing their thing, there is still much to be done in linking Procurement, AP and Treasury, digitizing supplier ecosystems, and getting rid of paper. Jason and I drafted a more indepth look at Tungsten and the recent news in our PRO piece Sizing Up Tungsten’s Numbers. Related Articles Discuss this: Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Notify me of new posts by email.