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Last updated on April 17, 2014 at 1:21 EDT

King Abdullah University of Science and Technology in the Middle East Adopts e-Invoicing with OB10

October 3, 2013

LONDON, October 3, 2013 /PRNewswire/ –

KAUST becomes the first OB10 buyer customer in Saudi Arabia

King Abdullah University of Science and Technology (KAUST), an international, graduate
research university near Jeddah, Saudi Arabia, has selected OB10 [http://www.ob10.com ] as
its global e-Invoicing provider.

(Photo:
http://photos.prnewswire.com/prnh/20131003/643445 )

The university’s goal is to receive all invoices electronically to eliminate costly
and manual paper-based processing, expedite approval, and free-up staff to focus on
activities that add greater value.

KAUST requires a scalable solution that can keep pace with its ambitions to expand
rapidly. Having heard about the success of electronic invoicing at Imperial College in the
UK, and visited the Finance and Procurement teams in London, OB10 was a leading contender.

“We identified OB10 as the provider that would reduce the number of paper invoices we
process, deliver early efficiencies and enable prompt payment to suppliers,” says Ian
Hastings, Head of Procurement Services.

KAUST is the first organisation to join the OB10 network as a buyer in the Middle
East. “We are very excited to enter this rapidly expanding economic region with such a
well-regarded institution,” says Luke McKeever, CEO of OB10. “Organisations in the Middle
East are just as eager to enhance their procure-to-pay processes with world-class,
scalable solutions that also benefit their suppliers.”

About OB10

OB10 [http://www.ob10.com ], the global e-Invoicing network that recently announced
its intention to join forces with Tungsten Corporation plc
[http://www.tungstencorporationplc.com ] and seek admission to trade on the Alternative
Investment Market, streamlines the complex invoice-to-pay process to enable prompt
payment.

Operational across Europe, the Americas and Asia, OB10 can reduce the cost of invoice
processing by 60% and deliver an ROI in less than a year.

The OB10 network connects large organisations to their thousands of suppliers around
the world. Buyer customers on the network include Aviva, Cargill, Deutsche Lufthansa,
General Motors, GlaxoSmithKline, IBM, Kellogg’s, Motorola, Tesco, US Federal Government
and Whirlpool.

About KAUST

King Abdullah University of Science and Technology (KAUST) is an international,
graduate research university dedicated to advancing science and technology through
interdisciplinary research, education, and innovation. Students, faculty, scientists, and
engineers conduct fundamental and goal-oriented research to address the world’s pressing
scientific and technological challenges related to water, food, energy, and the
environment.

http://www.kaust.edu.sa

Contact: Sandra Higgison, Head of Global Communications +44(0)20-7406-5772
sandra.higgison@OB10.com.


    Photo: 

http://photos.prnewswire.com/prnh/20131003/643445

SOURCE OB10 and KAUST


Source: PR Newswire