Buyer-supplier networks have mostly charged suppliers to join and then handed them the buyer’s terms; Tungsten Automation CEO Pete Hantman says the supplier has to become the network’s customer, too.

That means showing suppliers when an invoice was approved and when funds will arrive, and giving them a choice between faster cash and a bigger payout later.

Pay+ extends Tungsten’s invoice-to-pay platform into payment execution, carrying invoice history and the judgment calls made along the way through to the moment money moves.

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The buyer-supplier network has always had a gap between its promise and its payoff. The buyer picks the platform. The supplier may pay to participate. In return, the supplier gets the buyer’s invoice format, the buyer’s approval process, the buyer’s terms and the buyer’s payment schedule, with very little visibility into when payments will arrive. The network was designed to be a two-sided marketplace. In practice, being connected isn’t the same as making it easier to pay — or get paid.

Peter Hantman, CEO of Tungsten Automation, acknowledged that weakness directly. He told PYMNTS CEO Karen Webster that connecting buyers and suppliers isn’t enough if the payment process still leaves both sides looking for answers. His fix starts with making that connection pay off for both.

That’s the premise behind Pay+ , which extends Tungsten’s invoice-to-pay platform into payment execution. The buyer still retains control of the process.

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