LONDON, March 18, 2015 /PRNewswire/ --
UK public sector
maintains its easy access to the benefits of e-Invoicing and spend
analytics
Tungsten Corporation (LSE:TUNG), the global e-Invoicing, spend
analytics and invoice financing company, is delighted to announce
that Tungsten Network, the world's largest compliant e-Invoicing
network, has been awarded a place as a supplier on the UK
Government's G-Cloud 6 Framework. This means that Tungsten
Network's e-Invoicing and analytics services can be purchased by
public sector agencies through the government's Digital
Marketplace, an online store where suppliers offer their services
to the public sector via the G-Cloud framework.
G-Cloud 6 is a pan government collaborative framework agreement
for use by UK public-sector bodies. It is managed by the Crown
Commercial Service, and includes central government departments and
related bodies and agencies, non-departmental public bodies, NHS
trusts and local authorities.
This follows Tungsten Network's earlier placement on G-Cloud 5,
a prior iteration of the framework, and is the latest step in
Tungsten's public sector activities. The G-Cloud and associated
Digital Marketplace simplifies the need for the public sector to
tender competitively for the services covered by the framework. The
UK has some of the highest costs for public sector tender processes
in Europe, often costing over
£45,000 per process.
Edmund Truell, Group CEO,
Tungsten Corporation, said, "G-Cloud 6 is an important development
in public sector procurement. We are looking forward to working
closely with public sector bodies that can now easily access
Tungsten's e-Invoicing and analytics services."
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