LONDON, July 31, 2014 /PRNewswire/ --
Invoice automation delivers straight-through processing for food
ingredients firm
Kerry Group, a leader in the food ingredients industry, has been
processing invoices electronically in the UK and Ireland with Tungsten Network, the global
trading network built on OB10 e-Invoicing, since 2006. Having
renewed its contract, Kerry is extending the benefits of invoice
automation globally to include all its businesses across
Europe, North America and Asia.
Kerry Group is rolling out e-Invoicing, Purchase Order Services
and Invoice Status Service with Tungsten to achieve
straight-through processing and improve payment on time for
suppliers.
"Following a thorough review of the market, we chose to continue
working with Tungsten Network to build on the success of our
existing programme," says Tom
Murphy, Group Chief Procurement Officer at Kerry Group. "In
particular, we value the functionality of the Tungsten service, the
steadfast focus on compliance and its expertise in supplier
engagement."
"Kerry Group has shown its commitment to e-Invoicing over the
past eight years by being both a buyer and a supplier on the
Tungsten Network," says Edmund
Truell, Group CEO of Tungsten Corporation. "We are delighted
to introduce the benefits of purchase-to-pay automation to Kerry's
operations and suppliers around the world, and help strengthen its
supply chain through our global trading network."
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 organizations 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 through Tungsten Bank 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 46 countries, and processes transactions worth over
$187bn per year for organizations
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.
Contact: Sandra Higgison, Head of
Global Communications, +44(0)20-7280-7973,
sandra.higgison@tungsten-network.com.