Tungsten Corporation PLC Tungsten selected by Caterpillar for e-Invoicing
24 June 2014 - 6:30PM
RNS Non-Regulatory
TIDMTUNG
Tungsten Corporation PLC
24 June 2014
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For Immediate Release 24 June 2014
Tungsten Network selected by Caterpillar
for electronic invoicing
Global organisations continue to adopt e-Invoicing to
achieve
world-class Procure to Pay
London, 24 June - Tungsten Network, the global e-Invoicing
network built on OB10, has been selected by Caterpillar, the
world's leading manufacturer of construction and mining equipment,
diesel and natural gas engines, industrial gas turbines and
diesel-electric locomotives, to provide an e-Invoicing programme to
its suppliers across the UK and Poland.
To achieve world-class levels of efficiency within
Purchase-to-Pay functions, organisations are introducing electronic
invoicing to replace paper-based, manual processing that is prone
to mistakes and causes payment delays that can impact relations
with suppliers.
Invoice automation brings consistency to the way companies
handle transactions by improving purchase-order compliance and
payment on time, enabling VAT and contract compliance, and
strengthening supplier relations.
Edmund Truell, Group CEO at Tungsten Corporation, said, "We are
delighted to welcome Caterpillar to Tungsten Network. This is yet
another milestone as we realise our vision to create the world's
largest electronic trading network."
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 20
7280 7973
sandra.higgison@tungsten-network.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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