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Tungsten Network one step closer to pan-India launch Print E-mail
Wednesday, 03 June 2015

Paper-free invoicing across India is one step closer to becoming a reality, after the latest set of approvals was granted in Rajasthan.

Tungsten now has the authority to start operating in the Indian state, after the state governor changed the law to allow invoices to be signed off digitally.

Edmund Truell, Tungsten Group CEO, said: “This is good news for anyone doing business in India, as it cuts the need for lengthy paper-based systems in favour of a simple digital model.

“India’s entry into the world of e-invoicing reflects its rising position in global business, and the growing importance of access to the latest technology in driving economic growth. Becoming a member of the e-invoicing community at Tungsten Network will open up access to faster, more transparent processing of invoices as well as reducing the risk of fraud.”

E-invoicing has already been given the green light in West Bengal, Himachal Pradesh and Delhi, after Tungsten carried out extensive negotiations with the relevant authorities in each region.

Having been given the go-ahead nationally by the central Indian government, Tungsten will continue to set up agreements with the other states in the subcontinent, with the goal of achieving a full set of signatures in the coming months.

Tungsten’s focus on achieving compliance in India is a direct response to customer demand, as increasing numbers of businesses are seeing opportunity in this fast developing market.

Rajasthan’s sign-off on using digital signatures helps to align India with other parts of the world, with digital signatures being common practice for authenticating invoices electronically in the EU and other markets.

The invitation-only e-invoicing community Tungsten Network already has hundreds of buyer members globally, and hundreds of thousands of their suppliers have also signed up to access fast, fuss-free e-invoicing capabilities, saving time, paper and money.

(Source - Tungsten Press Release)
 

 

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