Tungsten Corporation, the global electronic trading network, has acquired DocuSphere, a provider of accounts payable automation solutions.
The acquisition, which was completed in September 2014, extends Tungsten’s invoice-automation technologies to help companies streamline their accounts payable functions, adhere to tax and regulatory compliance, and have greater transparency of the entire invoice-to-pay process.
The combined firm will enable companies to reduce invoice exceptions and increase straight-through processing.
Rick Hurwitz, CEO, Americas, Tungsten Network, says: “As a result of this acquisition, DocuSphere customers will gain access to Tungsten’s e-Invoicing network, Tungsten’s existing clients will benefit from an even more secure, smart and fast e-Invoicing solution, and all customers will enjoy greater flexibility while joining a wider community of blue-chip multinational organisations.
“The market was pleased to see that Tungsten is expanding its portfolio of invoicing, payment, finance and analytics solutions. By joining forces with DocuSphere we have introduced complementary skills and technology that will strengthen the Tungsten offering and continue to help our clients automate their accounts payable systems. ”
Bradley White, president of DocuSphere, says: “As expected, the integration of products and people is proceeding smoothly, partly thanks to the experience we gained working together on a joint account prior to the acquisition. I’m confident that all Tungsten customers, including those brought on board by the former DocuSphere, will benefit greatly from the combined product offering.”
