Global business transaction hub Tungsten Network will be extending a partnership with Orbian, a global supply chain finance provider, to boost invoice financing efforts, according to a press release.
Orbian partner Roger, which works in the Czech Republic, will provide the financing services in that country along with Slovakia, the release stated. Roger has been working since 2013 and specializes in financing of digital invoices.
The current Tungsten and Orbian partnership involves providing payables-led supply chain financing services to buyers on the Tungsten Network. By leveraging Tungsten’s automated and digital invoice processing, the new service will help suppliers optimize cash flow, do away with long invoice maturity concerns, access liquidity and boost working capital performance, the release stated.
Roger CEO Adam Soukal said in the release: “The ability to cash long-due invoices within a digital invoicing interface — even from home offices — is fast becoming a financial industry standard. Roger is already helping drive this shift, and we are proud to work together with Tungsten to offer meaningful value to customers within an expanded geographic footprint.”
Orbian Chairman Thomas Dunn said in the release that the company has been “actively looking for the technology and services that Roger has developed and [is] excited to deliver these high value capabilities to companies within the Orbian Tungsten Network.”
In related news, PYMNTS reported that the pandemic has only worsened cash flow problems for smaller businesses, particularly those that are minority owned. Supplier Success Founder and CEO Louis Green talked about the various B2B FinTech solutions to help companies get more working capital, relieving pressure frequently arising from the delays of larger payments from bigger companies.
Green spoke about partnering with Facebook to connect the social media company with a platform for companies to sell invoices from their other corporate customers.
NEW PYMNTS DATA: BUY NOW, PAY LATER CONSUMER STUDY
About: Buy Now, Pay Later: Millennials And The Shifting Dynamics Of Online Credit, a PYMNTS and PayPal collaboration, examines the demand for new flexible credit options as well as how consumers, especially those in the millennial demographic, are paying online. The study is based on two surveys, totaling nearly 15,000 U.S. consumers.