|By PR Newswire||
|July 31, 2014 05:10 AM EDT||
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, [email protected].
SOURCE Tungsten Network Limited