|June 11, 2009|
|11.06.2009 Tieto and Telema form partnership to streamline supply chain processes|
Tieto and Telema form partnership to streamline supply chain processes
Tieto and Telema, an EDI (Electronic Document Interchange) operator in the Baltic States, have established a partnership that will enable the exchange of electronic supply chain documents between the companies' customers and their business partners in Europe. The first customer of the new joint service is a leading retailer in the construction materials market. The Telema cooperation will help Tieto's customers to streamline their supply chain processes, allowing them to benefit from improved efficiency and transparency through the elimination of manual, paper-based processes.
An estimated 200 billion business documents are circulated in Europe annually. Less than 5% of that volume (9 billion) is currently digitized. It is estimated that roughly 500 billion EUR of unnecessary working capital is locked up in the financial supply chains of Europe's top 1,000 corporations due to poor visibility of payables and receivables. One major reason for this inefficiency is the huge volume of paper in circulation.
"It is my pleasure to announce our partnership with Telema. Telema is well known for their high value EDI offering and recognized quality of their services." says Jyrki Poteri, Head of Development, Tieto Value Networks. "Tieto's approach to integrating European supply chains is based on open standards, industry best practices and collaboration. This partnership is a milestone in allowing extended access and reach for our customers who are active in the Baltic States."
Hele Hammer, CEO of Telema comments: "Through our partnership with Tieto, we can serve our customers better and help them collaborate with their business partners. We are particularly proud that Tieto has chosen Telema as its partner in the Baltic States and see lot of potential for creating value for our customers."
For more information, please contact:
Jyrki Poteri, Head of Development, Tieto Value Networks, tel. +358 40 570 7870 , e-mail: email@example.com
Hele Hammer, CEO, Telema, tel. +372 611 7667 , e-mail: firstname.lastname@example.org
Tieto is an IT service company providing IT, R&D and consulting services. With approximately 16 000 experts, we are among the leading IT service companies in Northern Europe and the global leader in selected segments. We specialize in areas where we have the deepest understanding of our customers' businesses and needs. Our superior customer centricity and Nordic expertise set us apart from our competitors. www.tieto.com
Telema is the leading EDI operator in the Baltic States, offering IT support to supply chain processes. Telema has over 500 clients, mostly in Estonia, but also in Latvia, Lithuania, Sweden, Finland, Denmark, Poland and Germany. In 2008, about 3 million business documents were exchanged through Telema that represented trades that worth 2,6 billion Euros. www.telema.com