Spend Matters 50/50: Tungsten – A Provider to Know in 2015

100 companies - 100 days

We announced here and here our two (not ranked) lists: Spend Matters 50 To Know and 50 To Watch firms for 2015/2016. In the first case, this is our view of the 50 solution provider type organisations in the procurement industry that every senior procurement leader should be aware of and understand. The 50 To Watch are the up-and-coming firms  - those with interesting and relatively new solutions for our market. The 50 To Know are the key organisations in our industry that procurement executives need to have on their radar.

Having announced the lists, our US colleagues are now featuring each of the 100 firms in turn with an article giving an overview of each, with some headline Spend Matters thoughts on them. So on this site we will be giving you a brief extract of the US article, plus adding our own comments where we have anything useful to add from a European perspective. Sometimes we do, sometimes we don’t!

Here is a taste of what our US colleagues had to say about Tungsten:

"Tungsten is a Spend Matters 50/50 Provider to Know for 2015 not just because it has focused on delivering a managed service and platform for core eInvoicing on a global basis but because it has innovated around the edges, exploring the future role of what networks might become ...

Tungsten is not without hurdles, especially as the capital markets have come to view it. But the view from inside customers that use it could not be more different ... there’s a reason some of the largest companies in the world, looking to drive locally compliant eInvoicing, and which don’t believe TrustWeaver alone is sufficient regulatory insurance, continue to sign up with Tungsten. And it’s not just the bells and whistles on the financing and analytics side that are most fascinating, from an analyst perspective ..."

You can read more about what our US colleagues have to say on Tungsten here. In Europe the firm is of course strong given their London base and the OB10 heritage; that firm was founded here and their eInvoicing capabilities became the core of Tungsten. But more recently, the firm's new take on spend analytics - a virtually real time approach to analysing invoice data to come up with real value opportunities - is also worth noting.

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