Tungsten Corporation PLC Market Update
09 June 2014 - 4:01PM
RNS Non-Regulatory
TIDMTUNG
Tungsten Corporation PLC
09 June 2014
TUNGSTEN CORPORATION PLC
("Tungsten")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN
NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OF SUCH JURISDICTION
For Immediate Release 9th June, 2014
MARKET UPDATE
Tungsten Network delivers compliant e-Invoicing for customers in
Saudi Arabia
Customers can trade with confidence in 45 compliant countries
through the global e-Invoicing network
London, 09 June - Tungsten (LSE:TUNG) now delivers compliant
e-Invoicing in Saudi Arabia.
Following in-depth research and technical development, Tungsten
Network, the global e-Invoicing network built on OB10, enables
customers to send and receive domestic and offshore electronic
invoices that comply with Saudi Arabian commercial law and qualify
as a legal invoice.
The addition of Saudi Arabia takes the number of compliant
countries on the Tungsten Network to 45 and helps even more
organisations streamline their processes around the world and
achieve straight-through processing.
The first buyer customer to use this service within the region
is King Abdullah University of Science and Technology (KAUST),
which joined the network in 2013.
"Our goal is to become the world's largest electronic trading
network and allow our customers to transact seamlessly with
suppliers around the globe," says Edmund Truell, Group CEO,
Tungsten Corporation. "Achieving Saudi Arabian compliance brings us
closer to that objective. I'm delighted to give our customers
access to another important geography where they can reap the
financial and environmental benefits of e-Invoicing. We look
forward to bringing our secure, smart, fast electronic invoicing
network to even more territories in the coming months."
LONDON, 9 June 2014
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.
Buyer organisations that join Tungsten Network, built on OB10
e-Invoicing, can reduce their invoice-processing costs by 60%.
Suppliers benefit from efficiencies, greater visibility of their
invoice status and peace of mind. Tungsten offers supply chain
financing to suppliers and helps buying organisations profit by
applying real-time spend analytics to its vast repository of
line-level invoice data.
Tungsten connects the world's largest companies and government
agencies to their thousands of suppliers around the globe. It is
compliant in 45 countries, and processes transactions worth over
$180bn per year for organisations such as Alliance Data, Aviva,
Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline,
Henkel, IBM, Kellogg's, and US Federal Government.
Tungsten Corporation joined forces with OB10 in 2013 to create
the world's largest electronic trading network.
Enquiries:
Tungsten Corporation plc
Edmund Truell, Chief Executive Officer +44 20 3435 5680
Sandra Higgison, Head of Global Communications +44 20 7406 5772
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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