TIE Kinetix Expands Contract with German Government Organization Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, a Globally Recognized Federal Enterprise

TIE Kinetix, a leader in 100% supply chain digitalization, announced today that GIZ, the German Society for International Cooperation, will be expanding their existing contract to a new 4-year contract valued at € 1.7 million. This expansion confirms that GIZ is taking significant steps towards 100% digitalization by eliminating all paper from their supply chain.  

GIZ’s decision to continue to use TIE Kinetix’s cloud-based FLOW Partner Automation solution to digitalize their document exchange means that their transaction process will remain secure and efficient.  

Since November of 2020, all public authority suppliers in Germany have been required to send electronic invoices via an administrative portal. As a federal non-profit enterprise, this deadline also applies to GIZ suppliers, many of which vary in size and technical capabilities. The partnership between GIZ and TIE Kinetix began in 2019, when GIZ still had an entirely paper-based workflow for processing both local and international documents. To meet legal demands and offer a fitting solution for suppliers with vastly different needs, GIZ chose TIE Kinetix to provide a comprehensive e-invoicing portal for its suppliers that would be able to facilitate bidirectional data transfers with pre-existing systems and workflows.  

Now, all GIZ suppliers can participate in a quick and secure online registration process that allows them to submit their invoices in the appropriate electronic format (XRechnung) via the GIZ portal, courtesy of the FLOW Partner Automation platform and TIE Kinetix’s next-generation EDI solution. And, as an international company with a dedicated local team in Germany, TIE Kinetix helps GIZ to meet all country-specific legal requirements while supporting global collaboration. Additionally, by choosing TIE Kinetix as their digitalization service provider and eliminating paper from their supply chain workflows, GIZ has prioritized the environment and will therefore decrease the number of trees used for paper per year.  

The ongoing relationship shows the need for international companies to rely on secure document exchange solutions that enable them to send and receive documents electronically with trading partners of any size (large, medium, and small companies). For companies like GIZ, all data is immediately available across systems and is seamlessly incorporated into applicable workflows. As a result, invoices can be processed automatically for a streamlined procure-to-pay process.  

By choosing TIE Kinetix as their service provider, GIZ will see strong growth in their digitalization efforts. The contract has been very successful over the past three years and will only continue to improve GIZ’s day-to-day document exchange processes.  

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 1 billion documents through FLOW each year—the equivalent of 100,000 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.

Submitted by Investor Relations on Tuesday, December 27, 2022. 

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