QuickView: A renewed focus on efficiency
At Tungsten’s AGM its new CEO, Richard Hurwitz, announced that he is undertaking a thorough review of Tungsten’s operations to accelerate growth and improve on cost efficiency. Its strategic objectives remain unchanged and profit guidance given in July, to break-even in FY17, remains in place. Its ownership of Tungsten Bank remains under review. A more detailed review of the CEO’s proposals will be presented when the interim results are announced in December 2015.Tungsten Corp is a global e-invoicing network that provides supply chain financing and spend analytics. Co.'s solutions include: purchase order services, where Tungsten Network facilitates the delivery, acknowledgment, variation and conversion of purchase orders into invoices; and invoicing services, which eliminate paper from the accounts payable process through e-invoicing. Co. has three segments: Tungsten Network, which includes the e-invoicing and spend analytics business of Tungsten Network; Tungsten Network Finance, which includes the supply chain finance business; and Tungsten Corporate, which includes overheads and general corporate activities.
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