Breukelen, the Netherlands – March 30, 2023 at 8 AM CEST– TIE Kinetix, a leader in 100% supply chain digitalization, announced today a new 5-year, $720,000 contract with The Stow Company, a top provider of intelligent storage solutions including closets and garages. With this upgrade, Stow will increase their existing document exchange volume and subsequently optimize their document exchange process with a 100% cloud-based EDI solution.
The EDI business relationship between TIE Kinetix and Stow began nearly two decades ago, but it was only at the end of 2022 that Stow adopted the FLOW Partner Automation Platform to simplify and streamline their document exchange process. Now, Stow has decided that they can utilize a higher document volume to further increase their growth and ensure they are taking advantage of TIE Kinetix’s 100% digitalization solution. This swift decision to increase their document volume means that not only will Stow continue to be able to easily exchange documents with all their existing trading partners, but also have the capacity to add new trading partners to their supply chain. The initial contract between TIE Kinetix and Stow for a next-generation EDI solution showcases the need for large companies to be able to accurately and efficiently exchange documents electronically with their trading partners, and now they will be prepared to continue on their current path of growth.
Stow’s decision to choose TIE Kinetix as their service provider shows the need for companies to rely on secure document exchange solutions that enable them to send and receive documents electronically with trading partners of any size. All business partners of Stow will continue to be able to exchange documents such as purchase orders, order confirmations, packing slips, and invoices – all without interruption. Stow’s investment in TIE Kinetix is also an investment in an environmentally friendly solution. By using FLOW, Stow will annually save 81.13 trees, 5.13 tons of CO2, 1,840 ink cartridges, and 70-90% of energy through the cloud.
TIE Kinetix is proud to offer a solution to Stow that is hosted in the Microsoft Azure cloud and is therefore completely integrated into their back-end solution. By using TIE Kinetix’s cloud-based solution, FLOW, Stow can be sure that their supply chain is as protected and digitalized as possible.
This document may contain expectations about the financial state of affairs and results of the activities of TIE Kinetix as well as certain related plans and objectives, and may be expressed in a variety of ways, such as ‘expects’, ‘projects’, ‘anticipates’, ‘intends’ or similar words. TIE Kinetix has based these forward-looking statements on its current expectations and projections about future events. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances that may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. TIE Kinetix therefore cannot guarantee that the expectations will be realized. TIE Kinetix also refuses to accept any obligation to update statements made in this document.
For more information please contact:
TIE Kinetix N.V.
Michiel Wolfswinkel (CFO)
De Corridor 5d
3621 ZA Breukelen
T: +31-88-369-8000 (Europe) or 1-800-624-6354 (USA)
E:
Michiel.Wolfswinkel@TIEKinetix.com
W:
www.TIEKinetix.com
About TIE Kinetix
At TIE Kinetix, we help companies of all sizes achieve their digitalization goals. From 1% to 100% or anywhere in between, our cloud-native FLOW Partner Automation platform is designed to completely eliminate paper from the supply chain, enabling our customers to focus on three corporate initiatives that drive true organizational change: business process efficiency, compliance, and corporate social responsibility (CSR).
We believe that digitalization (not digitization) is the future. We believe in conscious development, and we believe in moving ourselves and our customers forward. More than 2,500 companies have chosen TIE Kinetix to support their EDI, e-invoicing, and general digitalization projects, and we proudly facilitate the exchange of over 81 million documents through FLOW each year—the equivalent of 10,000 trees saved.
Founded in 1987, TIE Kinetix is a public company (Euronext: TIE) with offices in the Netherlands (HQ), France, Germany, Australia, and the United States. For more information, visit
www.TIEKinetix.com, and follow us on
Linkedin,
Twitter,
Facebook,
Xing, and
YouTube.
https://news.cision.com/tie-kinetix/r/tie-kinetix-extends-and-upgrades-contract-with-the-stow-company--for-increased-document-exchange-vol,c3743188