ATLANTA, March 17, 2015 /PRNewswire/ --
- Tungsten to help client improve processes, eliminate manual
data entry, and reduce AP costs
Tungsten Corporation plc (LSE:TUNG), the global electronic
invoicing, analytics and invoice financing company, has been
selected by Honda Logistics North America (HLNA) to automate its
accounts payable (AP) processes.
HLNA will be using Tungsten's All-in-One for JD Edwards Accounts
Payable solution, which integrates with the JD Edwards accounting
software that HLNA currently uses.
Following its acquisition of DocuSphere in 2014, Tungsten's
suite of services includes dedicated AP automation solutions
tailored for Oracle E-Business Suite, SAP and JD Edwards ERP
systems respectively. Tungsten's complete AP solution can help
clients reduce AP processing costs, improve accuracy, accelerate
turnaround times, increase visibility, immediately record
liabilities, and eliminate lost or missing invoices.
"I'm pleased to see this major subsidiary of Honda recognise the
benefits of working with Tungsten on AP automation," said
Rick Hurwitz, Tungsten CEO
(Americas). "HLNA currently processes 10,000 invoices per month and
expects its volume to increase by 30% over the next three years.
Automating its accounts payable processes will reduce overhead
costs, increase efficiency - especially given the high number of
invoices HLNA receives that do not have purchase orders - and
eliminate the burden of manual data entry.
"HLNA was particularly impressed with Tungsten's overall
functionality and scalability, and our extensive JD Edwards
experience. We look forward to helping it achieve its accounts
payable goals."
HLNA, a subsidiary of Honda Logistics Japan, holds majority
interest in subsidiaries providing supply chain solutions for
automotive OEMs and their suppliers in the North American/European
operating region, including affiliated organisations in
Canada and the United Kingdom.
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, the world's
largest compliant electronic invoicing network, 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*; and helps buying organisations profit by applying real-time
spend analytics to its vast repository of line-level invoice
data.
Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100
by connecting the world's largest companies and government agencies
to their thousands of suppliers around the globe. It enables
suppliers to submit tax compliant e-Invoices in 47 countries, and
last year processed transactions worth over $187bn for organisations such as Alliance Data,
Aviva, Cargill, Deutsche Lufthansa, General Motors,
GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal
Government.
Tungsten Corporation acquired DocuSphere, a provider of accounts
payable automation solutions, in September
2014.
Contact: James Culverhouse,
Equus, +44(0)20-7223-1100, james.culverhouse@equusgroup.co.uk.
* Tungsten Bank is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority. Tungsten Bank is registered on the
financial services register with firm reference number 139209.
SOURCE Tungsten Corporation plc