Tungsten Network signed to government commercial service agreement

4th Jun 2014 09:50

Tungsten Network, a global e-Invoicing network owned by Tungsten Corp., has been accredited as a supplier of the UK government Crown Commercial Service's G-Cloud 5 framework.The framework agreement is used by UK public-sector bodies, including central government departments, non-departmental public bodies, NHS bodies and local authorities.Tungsten Network described the accreditation as "a major step" in cementing its relations with the public sector and strengthening its operations. It said the agreement would help to accelerate business development as public-sector bodies benefit from pre-negotiated terms and fixed prices. It also eliminates the need for the public sector to tender competitively for the services covered by the framework, which in the UK can cost over £45,000 per process, it explained.Tungsten Chief Executive Edmund Truell said: "We are delighted to be part of the G-Cloud 5 framework. This is another key development for Tungsten Network as we expand our customer base, and bring the value of electronic invoicing to governments and their citizens around the world." Shares had jumped 7.1% to 282.75p by 10:00 on Wednesday.NR