Tungsten first in India15 Mar 2017 13:47
Great spot, Noise!
Tungsten NetworkTungsten Network has become the first e-invoicing provider to offer compliant, paperless invoicing in India.
The announcement comes in response to the demand from large buying organisations on the Tungsten Network who see opportunities in the fast-developing market.
Effective today, Tungsten customers will now have the ability to send and receive legally-compliant electronic invoices for services and excise across India, as well as to create legal invoices for goods in the following eight states: Chandigarh, Delhi, Himachal Pradesh, Karnataka, Maharashtra, Punjab, Rajasthan and West Bengal.
The expansion is a direct result of Tungsten’s tireless efforts to obtain clarification from the Indian government around whether digital signatures are legally permitted to prove the authenticity of invoices. Tungsten received this clarification directly from the Indian government, at both national and state levels, and was supported in its endeavours by partners Price**********Coopers and TrustWeaver.
Rick Hurwitz, Tungsten Network CEO, said: “India is one of the fastest growing economies in the world and the move from a cumbersome paper-based approach to a frictionless digital model is great news for any business looking to trade with Indian vendors. Our expansion into the country was driven by customers who are looking to conduct more business in this increasingly important region. Now, they will have access to fast, efficient processing while simultaneously reducing the risk of fraud.
“Tungsten’s entry into India also supports the government’s commitment to digitisation as it seeks to tackle corruption and mitigate its vast black economy. Several countries around the world have already embraced e-invoicing to fight fraud and tax evasion, and Tungsten is uniquely positioned to support Indian business and government in its digital development.”
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