According to a report by Tungsten Corporation, an investment firm founded by Edmund and Danny Truell, focused on monetising the e-invoicing network, calculated that buyers and suppliers could save a combined total of GBP 1.93 billion by using e-invoicing to reduce costs, save staff time and cut fraud.
The report revealed that e-invoicing cut costs for buyers by a minimum of 60 % per invoice and saved 10 minutes of staff time, compared to manual processes.
In recent news, Tungsten has completed the acquisition of the UK-based global B2B e-invoicing network operator OB10 after trading it on the AIM market of the London Stock Exchange.
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