Tungsten Corporation PLC Tungsten signs Mexican reseller and buyer customer (7386A)
February 24 2014 - 3:30AM
UK Regulatory
TIDMTUNG
RNS Number : 7386A
Tungsten Corporation PLC
24 February 2014
TUNGSTEN CORPORATION PLC
("Tungsten" or collectively the "Tungsten Group")
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
BUZÓN E BECOMES OB10 E-INVOICING RESELLER AND SIGNS FIRST
MEXICAN BUYER CUSTOMER
- Mexican shipping firm, Estafeta, joins the global e-invoicing
network -
London/Mexico City, 24 February - OB10, the global e-Invoicing
network that is part of Tungsten Corporation plc (LSE:TUNG), and
Buzón E, a Mexican government-accredited e-Invoicing service
provider, have extended their partnership through a reseller
agreement that allows Buzón E to take OB10's
straight-through-processing services to organisations in Mexico.
The collaboration has signed Estafeta, the country's leading
shipping firm and Buzón E parent company, as the first buyer
customer to join the network in the region.
e-Invoicing is mandated for all Mexican companies. Due to recent
legislative changes, organisations can no longer self-generate
electronic invoices but must send them through one of 77 authorised
service providers, such as Buzón E. By becoming an OB10 reseller,
Buzón E is introducing additional value to its fiscally compliant
invoicing services by bringing touchless processing to Mexican
companies.
"Electronic invoicing is more than just a regulatory
requirement," said Benito Celorio, Managing Director at Buzón E.
"Through our partnership with OB10, we can enable existing and
future customers to eliminate invoice exceptions and manual
intervention, and automate the process from invoice to pay."
By adopting e-Invoicing through Buzón E and OB10, Estafeta is
setting a new standard for Mexican multinationals. "This is our
opportunity to drive greater efficiencies into our processes,
enhance our payment-on-time targets and improve relations with
suppliers," said Gerardo Pinto, Chief Financial Officer at
Estafeta. "We are proud to be the first Mexican buyer organisation
on the OB10 network."
The enhanced partnership between OB10 and Buzón E demonstrates
the combined level of commitment to improving purchase-to-pay
operations in the region. "Governments around the world look to
Mexico as an example of the real impact e-Invoicing can have on
their economies," said Edmund Truell, Group CEO at Tungsten. "By
working with Buzón E and Estafeta, we will show how both businesses
and tax administrations can dramatically reduce cost and increase
value through straight-through invoice processing."
About OB10
OB10 is the global e-Invoicing network at the core of Tungsten
Corporation plc that simplifies and streamlines the complex
invoice-to-pay process to enable prompt payment.
Compliant in 43 countries across Europe, the Americas and Asia,
OB10 can reduce invoice-processing costs by 60% and deliver an ROI
in less than a year.
Working with 53% of the Fortune 500, Tungsten Corporation's OB10
network connects some of the world's largest companies and
government agencies to their thousands of suppliers around the
globe. It processes transactions worth over $180 billion per year
for organizations such as Aviva, Cargill, Deutsche Lufthansa,
General Motors, GlaxoSmithKline, IBM, Kellogg's, US Federal
Government, Tesco and Whirlpool.
Tungsten Corporation offers supply chain financing to suppliers
on the OB10 network and will help organizations profit by applying
innovative spend analytics to its vast repository of invoice
data.
Sandra Higgison,Head of Global Communications, +44 20 7406 5772,
sandra.higgison@OB10.com
About Buzón E
Buzón E is a government-authorized certification provider and
pioneer of electronic invoicing in Mexico. Through its innovative
technology platform, Buzón E provides a high-security, large-volume
environment to generate, distribute and manage personalized
compliant fiscal invoices, and other documents like payroll
receipts and tax-retention formats, helping its customers to move
to a paperless world with significant reductions in operational
expenses.
Buzón E is part of Estafeta, the leading express and logistics
service provider in Mexico.
www.buzone.com, www.estafeta.com, prensa@buzone.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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