Tungsten Corporation PLC Kerry Group takes e-Invoicing global with Tungsten (8100N)
31 July 2014 - 6:30PM
UK Regulatory
TIDMTUNG
RNS Number : 8100N
Tungsten Corporation PLC
31 July 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 31 July, 2014
Kerry Group takes e-Invoicing global with Tungsten Network
Invoice automation delivers straight-through processing for food
ingredients firm
London, 31 July - Kerry Group, a leader in the food ingredients
industry, has been processing invoices electronically in the UK and
Ireland with Tungsten Network, the global trading network built on
OB10 e-Invoicing, since 2006. Having renewed its contract, Kerry is
extending the benefits of invoice automation globally to include
all its businesses across Europe, North America and Asia.
Kerry Group is rolling out e-Invoicing, Purchase Order Services
and Invoice Status Service with Tungsten to achieve
straight-through processing and improve payment on time for
suppliers.
"Following a thorough review of the market, we chose to continue
working with Tungsten Network to build on the success of our
existing programme," says Tom Murphy, Group Chief Procurement
Officer at Kerry Group. "In particular, we value the functionality
of the Tungsten service, the steadfast focus on compliance and its
expertise in supplier engagement."
"Kerry Group has shown its commitment to e-Invoicing over the
past eight years by being both a buyer and a supplier on the
Tungsten Network," says Edmund Truell, Group CEO of Tungsten
Corporation. "We are delighted to introduce the benefits of
purchase-to-pay automation to Kerry's operations and suppliers
around the world, and help strengthen its supply chain through our
global 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 organizations 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
$187bn per year for organizations 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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