Awards Recognise GlaxoSmithKline, Henkel, Mondelēz International, Tesco and the US Department of Veterans Affairs for e-Invoicing Best Practice

LONDON, March 11, 2014 /PRNewswire/ --

Tungsten Corporation customers honoured for their results with
electronic invoicing

Tungsten Corporation plc (LSE: TUNG), the company that accelerates global trade by combining the OB10 e-Invoicing network with spend analytics and supply chain financing, is delighted to announce the winners of its 2014 Tungsten customer awards.

The awards - presented at the annual customer event in London - celebrate companies that have gone the extra mile in rolling out their electronic-invoicing initiatives and acting as champions for process automation in Purchase to Pay.

By acknowledging the extra efforts made to eliminate paper invoices, the winners offer examples of best practice and encouragement to other organisations looking to achieve straight-through processing.

The winners of the 2014 Tungsten Awards are:    

Innovator of the Year: Mondelēz International

Mondelēz, one of the world's largest snacks companies, has been recognised for being quick to adopt new approaches to increasing supplier engagement with
e-Invoicing

Supplier Engagement: US Department of Veterans Affairs

As the second-largest US government department, the Department of Veterans Affairs receives this award for converting the highest number of suppliers to electronic invoicing during 2013

Champion of the Year: GlaxoSmithKline CBS Financial Services

The team at GSK significantly advanced its e-Invoicing programme in 2012 and continues to promote the adoption of e-Invoicing best practice in the market

Global Expansion: Henkel

In the past 12 months, Henkel has taken its e-Invoicing programme through OB10 from Europe to Asia Pacific and the US, and will soon be live in Latin America

100% e-Invoicing: Tesco

Tesco, an e-Invoicing advocate, is focused on converting 100% of its goods-not-for-resale invoices to electronic in the UK and Ireland. It made significant progress towards this goal in 2013 and also implemented Invoice Status Service for its suppliers

Edmund Truell, Group CEO of Tungsten Corporation, said, "These awards recognise the extraordinary efforts of the organisations we partner with as they continue to deliver efficiencies, streamlined processes and stronger supply chains through e-Invoicing. We are honoured to work with these organisations, and hope their initiative will encourage more businesses and governments to adopt better working practices."

About Tungsten Corporation plc

Tungsten Corporation plc (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's secure OB10 e-Invoicing network can reduce their invoice-processing costs by 60% while suppliers, through greater visibility of their invoice status, also gain efficiencies and peace of mind. Tungsten Corporation offers supply chain financing to suppliers and will help buying organisations profit by applying innovative spend analytics to its vast repository of invoice data.

Tungsten connects some of 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 Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, IBM, Kellogg's, US Federal Government, Tesco and Whirlpool.

Contact: Sandra Higgison, Head of Global Communications, +44-(0)20-7406-5772, [email protected].  

SOURCE Tungsten Corporation and OB10