Independent Auditors Renew Tungsten Network's Security Credentials and Operational Controls

LONDON, August 13, 2014 /PRNewswire/ --

The global e-Invoicing network continues to adhere to ISAE 3402 and ISO 27001 frameworks 

Tungsten Network, the global trading network built on OB10 e-Invoicing, has received internationally recognised endorsement for its best-in-class security credentials and operational controls.

Independent auditors recently completed a thorough assessment of Tungsten Network's internal controls and concluded that they adhere to the ISAE 3402 framework, a global assurance standard that verifies whether a service organisation has appropriate and robust operational controls in place.

External auditors have also successfully completed an ISO 27001 surveillance audit to assess the management and control of information security.

"Our customers trust us with critical information, and it's imperative that we repay that trust, safeguard their data and deliver the high level of service they have come to expect," says Fuad Abdi, Head of Governance and Business Improvement at Tungsten Network. "These third-party audits and independent verifications help our customers to trade with confidence. They confirm that our network meets the highest security standards and verify that our internal controls are well-designed and effective."

"The renewal of these internationally recognised security and reporting frameworks sends a clear message to our clients," says Lincoln Jopp, Tungsten Group COO. "Tungsten Network continues to provide world-leading security to the world's leading organisations."

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 organisations 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 Network serves 55% of the Fortune 500 and 67% of the FTSE 100 by connecting 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 organisations 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, +44-20-7280-7973, [email protected].  

SOURCE Tungsten Network

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