Tungsten Corporation PLC BT to deploy e-Invoicing globally with Tungsten (5536N)

TIDMTUNG TIDMBT.A

RNS Number : 5536N

Tungsten Corporation PLC

29 July 2014

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For Immediate Release 29 July 2014

MARKET UPDATE

BT to deploy e-Invoicing globally with Tungsten

London, 29 July - Tungsten Corporation plc (LSE:TUNG), the electronic trading network, has secured a new contract with BT Group, the global telecommunications company, to deliver electronic invoicing, Purchase Order Services and Invoice Status Service to its global operations.

BT started working with Tungsten Network, then OB10, in the UK in 2003. The company has now selected Tungsten to extend the benefits of e-Invoicing to all its suppliers across all entities.

"We are delighted that one of the world's early adopters of e-Invoicing has chosen to work with Tungsten to bring streamlined invoice processing and prompt payment to its global supplier base," says Edmund Truell, Group CEO. "This significant contract continues to reinforce our ability to help both large corporations and SMEs trade with confidence."

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 organizations 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 $187 billion 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.

Enquiries:

Tungsten Corporation plc

Edmund Truell, Chief Executive Officer [phone]

Charles Stanley Securities

(Nominated Adviser and Joint Broker)

   Marc Milmo/Dugald Carlean/Laura White                                           [phone] 

Canaccord Genuity Limited

(Joint Broker)

   Simon Bridges/Peter Stewart/Cameron Duncan                               [phone] 

Equus Group (Communications)

Piers Hooper / Sam Barton [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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