Tungsten Corporation PLC Major construction group signs with Tungsten
April 01 2015 - 1:00AM
RNS Non-Regulatory
TIDMTUNG
Tungsten Corporation PLC
01 April 2015
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
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 1 April 2015
Market update
Major construction group signs with Tungsten for e-Invoicing and
PO services
London, 1 April, 2015 - A leading housebuilding and construction
group has selected Tungsten Corporation plc (LSE:TUNG), the global
electronic invoicing, analytics and invoice financing company, for
e-Invoicing and Purchase Order services.
e-Invoicing streamlines the complex invoice-to-pay process and
facilitates straight-through processing and prompt payment for
suppliers. It enables large organisations to receive legally
compliant invoices directly into their accounting systems, which
saves time and costs associated with processing paper invoices,
while making the accounts payable (AP) process more productive.
"This large customer is an important addition to Tungsten's
e-Invoicing network as we increase the number of companies using
our services, and enhance the "network effect" for our users by
adding companies in industries where we already have a significant
presence, like construction," said Tungsten Group CEO Edmund
Truell.
"The company's suppliers will also benefit from Tungsten's
Invoice Status service, which grants them full visibility of the
progress and status of their submitted invoices, which will in turn
significantly reduce the number of vendor inquiries received by the
customer's AP department."
Enquiries:
Tungsten Corporation plc
Edmund Truell, Chief Executive Officer +44 20 7280 7901
Juliana Wheeler, Head of Global Communications +44 20 7280 7973
Charles Stanley Securities
(Nominated Adviser and Joint Broker)
Marc Milmo/Dugald Carlean +44 20 7149 6000
Canaccord Genuity Limited
(Joint Broker)
Simon Bridges/Peter Stewart/Cameron Duncan +44 20 7523 8000
Neustria Partners (Investors and Analysts)
Robert Bailhache/Nick Henderson/Charles Gorman +44 20 3021 2580
Equus Group (Media)
Piers Hooper/Sam Barton/James Culverhouse +44 20 7223 1100
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 invoice 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: Juliana Wheeler, Head of Global Communications, +44 20
7280 7973.
juliana.wheeler@tungsten-network.com
* 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAUARVRVUAOOAR
Tungsten (LSE:TUNG)
Historical Stock Chart
From Sep 2024 to Oct 2024
Tungsten (LSE:TUNG)
Historical Stock Chart
From Oct 2023 to Oct 2024