The supplier growth in 2009 was the result of significant new buyer procurement projects as well as continued expansion in existing accounts who are increasing their spend under management. We expect continued exponential growth in both active supplier participation, as well as supplier revenue.
Paris (Vocus) February 4, 2010
Hubwoo (Euronext: HBW.NX), the world’s leading provider of on-demand procurement solutions for the SAP community, today announced new on-demand solutions and growth milestones for its Collaboration Hub. The new Master Data Exchange and next generation catalog Search are now live globally enabling organizations to rapidly increase their spend under management. Supplier community volumes have grown 75% in 2009 to over 70,000 active suppliers at the end of the year.
Hubwoo’s Collaboration Hub has been enabling global commerce for over a decade. From its roots as a business-to-business supplier network, it has always been at the forefront of connecting companies via automated transaction exchange. Over the decade, the Hub has grown into a collaboration community between trading partners of all sizes, as well as across an enterprise’s own disparate business systems. Key areas the Collaboration Hub cover are:
- Supplier Enablement – An outsourced service of people, processes, and technologies to significantly increase spend under management in procurement initiatives.
- Connect Once, Connect to All – A single point of integration to connect to an enterprise’s entire trading partner community
- Business Transactions – Guaranteed delivery of business transactions from purchase orders, to change orders, to advance shipping notices, to invoices, to payment advice.
- Dispute Management – Collaborative dispute management, tracking, and resolution across the spectrum of business transactions.
- Cycle time reduction – Efficiency and cash flow benefits for both buyers and suppliers.
- Catalog Content Management - Self-service capabilities for buyers and suppliers to deliver high quality content for maximum spend capture and contract compliance. Powerful auditing and approval capabilities to maximize effectiveness and minimize effort.
- Search Engine - Intuitive multi-supplier search engine to foster wider user adoption, and cover a full range of both goods and services categories.
- Invoice Management – Invoice presentment, validation, matching, legal compliance, and digital signature management to cover global regulations.
New solution announcements:
Master Data Exchange (MDX)
MDX enables synchronization of master data between customers’ heterogeneous enterprises systems, and the Hubwoo on-demand source-to-pay solution suite. Master data elements include suppliers, organizational structures, users, accounting information, budgets, workflow, cost centers, currency exchange rates, contracts, and material and service masters. Two global customers are live on this solution.
The Hubwoo 4.2 on-demand solution suite upgrade in October 2009 delivered the next generation of the Hubwoo multi-supplier catalog search solution: Search. Search brings both significant performance and scalability benefits, as well as a consumer look and feel for rapid user adoption. Flexibility and configurability address all categories of spend including services.
Supplier community volumes reached 70,000 active suppliers at the end of 2009, up 75% over 2008. Hosted catalogs increased 48% to over 5,800. Dan Daehler, Hubwoo SVP of Supplier Business commented: “The supplier growth in 2009 was the result of significant new buyer procurement projects as well as continued expansion in existing accounts who are increasing their spend under management. We expect continued exponential growth in both active supplier participation, as well as supplier revenue.”
About Hubwoo (http://www.hubwoo.com)
Hubwoo is the world’s leading provider of on-demand procurement solutions for the SAP community. The Company manages a business-to-business community with over 140 major international corporations as its customers (including 50 in the Global 1000) and over 70,000 active suppliers. Significant customers include Honeywell, Total, BASF, Evonik, EDF, Nokia, Michelin, Shell, Bayer, Henkel, Statoil, Hershey’s, Consol Energy, EcoPetrol, Carl Zeiss, Burton’s Foods, The Dow Chemical Company, ENI, and Graham Packaging. The Company has international offices in Europe, Americas and Asia and is a strategic partner of SAP and IBM.
Listed in Compartment C on the Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW.NX, Google: HBW
Rinus Strydom, SVP Marketing & Product Management
Tel: +1 713 332 6900