Tungsten Corporation PLC Market Update
June 04 2014 - 2:01AM
RNS Non-Regulatory
TIDMTUNG
Tungsten Corporation PLC
04 June 2014
TUNGSTEN CORPORATION PLC
("Tungsten")
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NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OF SUCH JURISDICTION
For Immediate Release 4th June, 2014
MARKET UPDATE
UK public sector gains easier access to the benefits of
electronic invoicing and spend analytics
Tungsten Network accredited as a supplier on the UK government's
G-Cloud 5 Framework
London, 4 June - Tungsten (LSE:TUNG) is delighted to announce
that Tungsten Network, the global e-Invoicing network built on
OB10, has been accredited as a supplier of the UK Government Crown
Commercial Service, G-Cloud 5 Framework.
Managed by the Crown Commercial Service, this is a pan
government collaborative framework agreement for use by UK
public-sector bodies, including central government departments and
their arm's length bodies and agencies, non-departmental public
bodies, NHS bodies and local authorities.
Tungsten Network sees this development as a major step in
cementing its relations with the public sector and strengthening
its operations. Accreditation will help to accelerate business
development as public-sector bodies benefit from pre-negotiated
terms and fixed prices. It also eliminates the need for the public
sector to tender competitively for the services covered by the
framework, which in the UK can cost over GBP45,000 per process, the
highest in Europe.
Edmund Truell, Group CEO, Tungsten Corporation, said, "We are
delighted to be part of the G-Cloud 5 framework. This is another
key development for Tungsten Network as we expand our customer
base, and bring the value of electronic invoicing to governments
and their citizens around the world."
LONDON, 4 June 2014
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, 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 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 44 countries, and processes transactions worth over
$180 billion per year for organisations 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.
Enquiries:
Tungsten Corporation plc
Edmund Truell, Chief Executive Officer +44 20 3435 5680
Sandra Higgison, Head of Global Communications +44 20 7406 5772
Equus Group (Communications)
Piers Hooper / Sam Barton +44 20 7223 1100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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