Hubwoo adds to its Cloud Invoice Management Leadership through TrustWeaver
Hubwoo awarded the right to use "TrustWeaver enabled" trust mark
PARIS, Oct. 22, 2012
PARIS, Oct. 22, 2012 /PRNewswire/ --Hubwoo SA (Euronext: HBW.NX), a leading
global provider of B2B buying and selling solutions in the cloud, today
announced a legal compliance certification for its global invoice management
solutions. Hubwoo has been given the right to use a new trust mark issued by
TrustWeaver, a leading provider of cloud-based information compliance and
governance solutions based in Sweden. The "TrustWeaver enabled" trust mark
allows Hubwoo to signify that The Business Network by Hubwoo benefits from a
superior level of legal compliance, evidence and control.
"We are pleased to show the market we take legal compliance just as seriously
as any other aspect of our solutions," said Rinus Strydom, SVP Solutions and
CMO. "Many solutions out there are arguably compliant with laws, but vendors
often provide generic invoice presentment solutions that do not actively
adjust for local laws in logic and user interface experience. With
TrustWeaver's time-honored solutions, based on continuous legal monitoring and
detailed in-built compliance documentation, our users get upfront local legal
recognition of their electronic invoices and other legally critical documents
in 38 countries."
Invoice management with The Business Network by Hubwoo includes:
o100% electronic invoice presentment: Suppliers present electronic invoices
over The Business Network either through their online account, through
uploading multiple invoice spreadsheets, via optical character recognition
scanning service, or via a direct connection to their accounts receivable
oConditional logic during invoice presentment: The Business Network allows
buyers to define invoice presentment rules and tolerances at the source,
ensuring that invoices meet business rules even before they arrive at
accounts payable. This shrinks the timeline to receive approved invoices,
which maximizes flexibility on early payment discounts and cash
management. Consol Energy, for example, has realized a step change in
value by reducing blocked invoices from 60% down to only 4% requiring
oInvoice Legal Compliance: Local legal compliance with invoicing
requirements, digital signatures, and archiving in 38 countries.
oMatch & Approve: A cloud based invoice matching and approval solution,
which streamlines the invoice approval process based on rules, validations
and workflow. Buyers' business rules ensure nothing gets paid that
doesn't meet approved processes.
oInvoice and payment status: A cloud service that puts invoice and payment
status information online on The Business Network for 100% of a company's
suppliers. Suppliers gain 24x7 access to invoice approval status, payment
status, and payment dates. Accounts payable departments eliminate the
burden of answering status inquiries on invoices and payments, freeing up
staff to focus on more strategic activities such as reducing off-contract
spend, cash management, and dynamic negotiations on early payment
Paying smarter is now not only more efficient, it's even more legally
compliant, better for companies' bottom line, and helps companies automate
accounts payable and optimize staff. From senior management, to A/P teams, to
suppliers, everyone involved realizes value.
About Hubwoo (www.hubwoo.com)
Hubwoo is a leading global provider of B2B buying and selling solutions in the
cloud. The Company manages a Business Network with hundreds of thousands of
active businesses and over 100 major international corporations as buyer
customers of which 50+ are in the Global 1000. Significant customers include
BASF, Honeywell, Shell, Evonik, EDF, Nokia, Monsanto, Nationwide, Michelin,
Henkel, Statoil, CONSOL Energy, EcoPetrol, Carl Zeiss, Burton's Foods, and The
Dow Chemical Company.
Hubwoo has major operations in France, multiple U.S. centers, Germany, the
U.K., Philippines, Belgium, and Eastern Europe. Listed in Compartment C on the
Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP
Contact: Rinus Strydom, SVP Solutions and CMO, firstname.lastname@example.org
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