LONDON, June 9, 2014 /PRNewswire/ --
Customers can trade with
confidence in 45 compliant countries through
the global e-Invoicing network
Tungsten Corporation plc (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."
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.
Contact: Sandra Higgison, Head of
Global Communications, +44(0)20-7280-7973
sandra.higgison@tungsten-network.com.