1. Tungsten Corporation PLC 2017 Annual General Meeting
Richard Hurwitz, Chief Executive Officer
15 September 2017
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2. Diagnosing Tungsten Corporation’s Situation
Autumn 2015
More Offense
More Defense
Start-up
Tungsten Network Finance
Tungsten Analytics
Turnaround
AP Automation
More Doing
Realignment
Sustain success
More Learning
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3. Today, Assessment of Tungsten Corporation
Filled skill gaps in leadership team;, Built coordinated management
Clarity of purpose and performance objectives
Transparent, inclusive, and caring organizational structure
People
End to end ownership across the business
Effective financial and operational control
Pay for delivery of performance; Objectives flows down
Processes
Product responsive with three new initiatives launched
Collaboration hub, with remaining infrastructure challenges identified
Change implemented to accelerate slow legacy growth rate
Multiple trade finance solutions in reinvigorated and focused TNF
Product
Buyers strongly subscribe to digital adoption;, Rising automation
Increase in aided brand awareness through multiple improvements
Suppliers have become primary customers for the first time
Image
Stable shareholder base – cautious valuation pending further delivery of objectives
Recapitalised balance sheet – path to positive operating cash flow visible
Corporate development focused on profitable growth and shareholder value
TC Plc Share
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4. Turning Tungsten into a Growth Company
Value
Contribution
Tungsten Corporation
Predictive
Profitable
Proactive
Stabilize
Distressed
Time
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5. Positioning Tungsten for Profitable Growth
Committed campaigns
Price to value
Monetising the large pool
Coordinated partnerships
A/R billing
Focused on deeper customer engagement
Collaboration hub
Digital experience and tools
Improved UX / UI
Revamped portal
Trade financing solutions
Multiple funders
Sold Tungsten Bank
Restarted financing effort
Digital automation on our own account
Procurement and T&E policies
Vendor reduction and management
Cleaned-up disputes and onerous contracts
Strengthened balance sheet
Contained costs
Addressing slow organic growth rate
Defensive protection
Product responsive
New core processing engine
Hybrid architecture across operational environment
Database architecture
Transition technological infrastructure
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6. Elements driving faster growth
More revenue opportunities
Self reinforcing interactions
Superior partner conversations
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7. Q1-FY18 highlights Revenue of £8.3million; 12% y-o-y growth
3 new Buyer contracts
Buyer renewals continue at favourable rate increases
Partnership with Tech Mahindra to push automation in new markets
Mandates for first three receivables financing contracts
New core processing system in parallel
On track to delivering FY18 trading targets
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