Tungsten Corporation PLC Market Update
30 June 2014 - 6:30PM
RNS Non-Regulatory
TIDMTUNG
Tungsten Corporation PLC
30 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 30th June, 2014
MARKET UPDATE
UAE organisations to benefit from compliant e-Invoicing through
Tungsten Network
Global electronic trading network now offers compliant
invoice-processing
automation in 46 countries
London, 30 June - Tungsten Corporation plc (LSE:TUNG) is now
compliant for e-Invoicing in the United Arab Emirates (UAE).
Having completed a thorough review of Emirati commercial law,
Tungsten Network, the global
e-Invoicing network built on OB10, now allows customers to send
and receive electronic invoices that qualify as a legal invoice in
the UAE.
The UAE is one of the Middle East's largest economies and one of
the world's most important business hubs. It is Tungsten Network's
46th compliant country.
"Tungsten Network is continuing its multi-million pound
investment programme to help our buyer and supplier customers
achieve global compliance across their invoice-automation
programmes," says Edmund Truell, Group CEO, Tungsten Corporation.
"A number of our major clients have identified the UAE as a key
market, and we're delighted to deliver this important territory to
them as we help them trade with confidence."
LONDON, 30 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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