Royal Caribbean Cruises Selects Tungsten for Invoice Automation

ATLANTA, February 16, 2015 /PRNewswire/ --

Global cruise brand seeks greater control of its accounts payable processes 

Royal Caribbean Cruises Ltd. has selected Tungsten Corporation plc (LSE:TUNG), the global electronic invoicing, analytics and invoice financing company, to help it to better control its invoice-to-pay processes while reducing the time it takes to process invoices, cutting costs associated with invoice processing, and improving visibility on its spend with suppliers.

The leading Miami-based global cruise brand has joined Tungsten through DocuSphere, a provider of accounts payable (AP) automation services that was acquired by Tungsten in 2014.

"Tungsten was the logical choice for Royal Caribbean, and we are delighted to work with them now that DocuSphere is fully integrated into Tungsten Corporation," said Rick Hurwitz, Tungsten's CEO, Americas. "Royal Caribbean receives invoices from suppliers based all over the world, so it was important for them to work with a provider that is tax compliant in multiple countries and legal jurisdictions, and offers support in multiple languages."

Tungsten's workflow product integrates seamlessly with the JD Edwards Accounts Payable software that Royal Caribbean currently uses. Following its acquisition of DocuSphere, Tungsten can now offer customers who use AP automation software from JD Edwards, Oracle and SAP a better tailored solution to their AP needs.

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, the world's largest compliant electronic invoice network, 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; and helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data.

Tungsten serves 56% 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 enables suppliers to submit tax compliant e-Invoices in 47 countries, and last year processed transactions worth over $187bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal Government.

Tungsten Corporation acquired DocuSphere, a provider of accounts payable automation solutions, in September 2014.

Contact: James Culverhouse, Equus, +44-020-7223-1100, james.culverhouse@equusgroup.co.uk .