LONDON, June 30, 2014 /PRNewswire/ --
Global electronic trading network
now offers compliant invoice-processing automation in
46 countries
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."
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 through Tungsten Bank 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 46 countries, and processes transactions worth over
$180 billion 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.