Tungsten Corporation - Resilience and promising partnerships
Tungsten Corporation’s full-year trading update indicated revenues and EBITDA for FY20 were in line with expectations while net cash has increased since H120. COVID-19 has affected transaction volumes but resilience is provided by recurring revenue. Partnerships to broaden the reach of the network, create new channels to market and provide complementary services should help drive growth. New total accounts receivable (AR) and accounts payable (AP) products are also set to augment revenue and increase the value of the network to customers.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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