Tungsten Corporation PLC Tungsten Network signs GE (4130H)
19 May 2014 - 4:01PM
UK Regulatory
TIDMTUNG
RNS Number : 4130H
Tungsten Corporation PLC
19 May 2014
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For Immediate Release 19th May, 2014
MARKET UPDATE
Tungsten Network signs GE
Accelerating delivery of the business plan
London, 19th May - Tungsten Corporation plc (LSE:TUNG) is
delighted to announce that:
- Tungsten Network has been contracted by GE to rollout a
multi-year e-Invoicing programme into every GE operation globally,
with potential invoice volumes of over 16m per annum. GE will also
take Tungsten's Invoice Status Service.
Edmund Truell, Group CEO, Tungsten Corporation plc, said,
"Tungsten Network is accelerating its expansion, with another new
customer choosing us to offer electronic invoicing services
globally - on a scale comparable with the entire volume of invoices
being transacted over the network last year."
Results for the full year to 30 April 2014 will be announced in
July.
About Tungsten Corporation plc
Tungsten Corporation (LSE:TUNG) accelerates global trade by
enabling customers to streamline invoice processing, improve
cash-flow management and make better buying decisions from their
detailed spend data.
The combination of Tungsten's core business areas offers an
unrivalled proposition: Tungsten Network, built on OB10
e-Invoicing, simplifies and streamlines the complex invoice-to-pay
process to connect supply chains and enable predictable payment.
Compliant in 44 countries across Europe, the Americas and Asia
Pacific, Tungsten Network can reduce invoice-processing costs by
60% and deliver an ROI in less than a year.
Tungsten Network Analyticsgives Procurement teams line-level
insight into their spend data in real time. Tungsten Network
Finance supports business growth by giving suppliers easy access to
flexible supply chain financing through dedicated funds.
Tungsten connects many of the world's largest companies and
government agencies to their thousands of suppliers around the
globe. Governments are making their economies more efficient,
managing working capital, streamlining the public sector and
fighting fraud. Tungsten Network processed transactions worth over
$185 billion last year for organisations such as ADS, BT, Cargill,
Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM,
Kellogg's and the US Federal Government.
Contact:
Tungsten Corporation plc
Edmund Truell, Chief Executive Officer, +44 20 3435 5680
Sandra Higgison, Head of Global Communications, +44 20 7280
7973, sandra.higgison@tungsten-network.com
Equus Group (Communications)
Piers Hooper / Sam Barton +44 20 7223 1100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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