Tungsten Corporation plc (LSE:TUNG), the global electronic invoicing, analytics and invoice financing company, has been selected by Honda Logistics North America (HLNA) to automate its accounts payable (AP) processes.
HLNA will be using Tungsten’s All-‐in-‐One for JD Edwards Accounts Payable solution, which integrates with the JD Edwards accounting software that HLNA currently uses. Following its acquisition of DocuSphere in 2014, Tungsten’s suite of services includes dedicated AP automation solutions tailored for Oracle E-‐Business Suite, SAP and JD Edwards ERP systems respectively.
Tungsten’s complete AP solution can help clients reduce AP processing costs, improve accuracy, accelerate turnaround times, increase visibility, immediately record liabilities, and eliminate lost or missing invoices.
“I’m pleased to see this major subsidiary of Honda recognise the benefits of working with Tungsten on AP automation,” said Rick Hurwitz, Tungsten CEO (Americas).
“HLNA currently processes 10,000 invoices per month and expects its volume to increase by 30% over the next three years. Automating its accounts payable processes will reduce overhead costs, increase efficiency – especially given the high number of invoices HLNA receives that do not have purchase orders – and eliminate the burden of manual data entry.
“HLNA was particularly impressed with Tungsten’s overall functionality and scalability, and our extensive JD Edwards experience. We look forward to helping it achieve its accounts payable goals.”
HLNA, a subsidiary of Honda Logistics Japan, holds majority interest in subsidiaries providing supply chain solutions for automotive OEMs and their suppliers in the North American/European operating region, including affiliated organisations in Canada and the United Kingdom.