Institute of Finance and Management and Tungsten Network Launch First-of-its-Kind Initiative to Identify Supply Chain Friction
Institute of Finance and Management and Tungsten Network announced a partnership to help organizations measure and eliminate friction in the processes they use to pay for the goods and services.
“Identifying and eliminating P2P friction will help businesses accelerate their supply chain to increase cash flow and profit margins, and reduce the cost of goods.”
The Institute of Finance and Management (IOFM) is the leading organization providing training, education and certification programs specifically for professionals in accounts payable, procure-to-pay, accounts receivable and order-to-cash, as well as key tax and compliance resources for global and shared services professionals, controllers and their finance and administration teams. IOFM has certified nearly 20,000 financial operations professionals worldwide through its four certification programs. With a universe of over 100,000 financial operations professionals, growing certification and membership programs, and a keen understanding of the issues and content needs critical to the profession, IOFM is the trusted source of information in the evolving field of financial operations.
Tungsten Network is a secure e-invoicing, purchase order services and workflow platform that brings businesses and their suppliers closer together with unique technology that revolutionizes invoice processing, maximizes efficiency and improves cash flow. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses. Tungsten Network processes invoices for 70 percent of the FTSE 100 and 72 percent of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 47 countries, and last year processed transactions worth over £133bn for organizations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Mondelēz International, Henkel, IBM, Kellogg's and the US Federal Government. Trusted, passionate and proven, Tungsten is making the digitization of global commerce between buyers and suppliers faster, easier and smarter.