19th May 2014 08:44
LONDON (Alliance News) - Tungsten Corp PLC Monday said its e-invoicing network has been contracted to roll out a multi-year invoicing programme into every General Electric Co operation globally, with potential invoice volumes of over 16.0 million per year.
Tungsten provides services to customers with the aim of facilitating trade by streamlining invoice processing, improving cash-flow management, and helping to them to make better buying decisions from detailed spend data. Under the agreement, Fairfield, Connecticut-based GE also will take Tungsten's invoice status service.
Tungsten Network, the e-invoicing network, is compliant in 44 countries across Europe, the Americas and Asia Pacific. Tungsten Corp says the network can reduce invoice-processing costs by 60%.
"Tungsten Network is accelerating its expansion, with another new customer choosing us to offer electronic invoicing services globally - on a scale comparable with the entire volume of invoices being transacted over the network last year," Edmund Truell, chief executive, said in a statement.
Tungsten said results for the full-year to April 30 will be announced in July.
Tungsten shares were Monday quoted at 211.00, up 0.1%.
By Samuel Agini; [email protected]; @samuelagini
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