Hubwoo Teams up with Microsoft® to Enable B2B Collaboration in the Cloud Companies sign global agreement to enable procurement and accounts payable savings for Microsoft customers
PARIS, March 19, 2013 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leader in collaborative business networks, today announced that it has teamed up with Microsoft Corp (Nasdaq: MSFT) to help tens of thousands of Microsoft ERP customers with a step change in spend compliance and accounts payable automation. Through this global alliance, the two companies will integrate and jointly market The Business Network for Microsoft Dynamics®, enabling businesses using Microsoft Dynamics AX with direct access to The Business Network by Hubwoo. Phase I of the alliance is focused on customer savings in spend compliance and accounts payable business processes. Phase II will address additional processes such as customer relationship management and accounts receivable automation among others.
"Traditional network models limit collaboration to the sharing of data between trading partners while never exposing, let alone extending, the business logic outside the four walls of an enterprise," said Gregory A. Mark, Chief Executive Officer, Hubwoo. "The pairing of Microsoft's agile ERP capabilities with Hubwoo's collaborative business network enables true multi-enterprise business collaboration across the entire commerce process. The result is incremental value for all network participants whether they are sourcing, buying, paying, marketing, selling, or invoicing."
The Business Network by Hubwoo is a collaborative B2B network that has saved companies hundreds of millions as a complement to their procurement and AP systems, and conversely drives revenue and process efficiency for the over one million businesses that exist on the network. The Business Network merges three of the most pervasive technology drivers of the 21st century; community, search, and ratings, with an enterprise-class B2B commerce platform which, with the help of partners such as Microsoft, quickly scales to significant critical mass.
Businesses on the network gain value by achieving MORE. Namely:
- More procurement savings – an average of 17% more compliant spend, resulting in 6-12% cost savings for every dollar or euro brought under contract compliance.
- More early pay discounts – rules based invoice automation results in 90+% first time invoice match rates, allowing full potential for discounts on payment terms.
- More revenue – additional orders from existing customers who put their approved suppliers on employees' desktops and mobile devices.
- More opportunities – B2B marketing results with exponentially higher returns than traditional search engine ad word spend
Networked enterprises were 50% more likely than their peers to have increased sales, higher profit margins, gain market share, and be a market leader, per a 2011 McKinsey Global Institute report – "The Rise of the Networked Enterprise."
Uniquely designed to help companies be more agile and simplify decision-making, Microsoft Dynamics AX includes built-in capabilities for multiple industries and geographic regions, lets people make quick and easy changes to processes and personal experiences to fulfill the shifting needs of their business, no matter how complex the organization. The application gives people across the company the information they need to do their job, access to the Microsoft productivity tools they use every day, and built-in, contextual business intelligence, empowering better decisions.
As part of the strategic alliance, Hubwoo will develop adapters that will allow Microsoft Dynamics AX customers to connect their accounts payable, procurement, customer relationship management, and accounts receivable processes to The Business Network.
"By integrating the powerful capabilities of Microsoft Dynamics AX with the world's leading collaborative business network, our collaboration with Hubwoo delivers a solution that enables companies of all sizes to interact with their trading partners electronically, helping organizations save more, grow their business with existing customers and discover new opportunities," said Doug Kennedy, Vice President, Microsoft Dynamics.
About Hubwoo (www.hubwoo.com)
Hubwoo is the world's leading collaborative business network provider, connecting companies to enable more productive B2B commerce. Through The Business Network, Hubwoo's open and collaborative business hub, Hubwoo makes it easier for companies to search, connect and collaborate. The Business Network drives value for organizations by connecting them to over one million active businesses around the globe. With Hubwoo, buyers can source smarter, buy smarter and pay smarter. Sellers can market smarter, sell smarter and invoice smarter. Significant customers include BASF, Honeywell, Shell, Evonik, EDF, Nokia, Monsanto, Nationwide, Michelin, Henkel, Statoil, CONSOL Energy, EcoPetrol, Campbell's, Burton's Foods, and The Dow Chemical Company. Hubwoo's global partnerships include Microsoft, IBM, and Dun&Bradstreet.
Hubwoo has major operations in Paris, Houston, Chicago, Bonn, London, Manila, and Leuven. Listed in Compartment C on the Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP