Groundbreaking Procurement Research Report Released, Developed by Ardent Partners and Sponsored by Hubwoo, Bristlecone and SAP

PARIS, Sept. 6, 2011 /PRNewswire/ -- Hubwoo (EPA: HBW), a leading provider of Cloud Procurement services powered by SAP® software, today announced in cooperation with SAP AG (NYSE: SAP) and Bristlecone the release of the "CPO Rising 2011, Innovative Ideas for the Decade Ahead" research report that presents a comprehensive, industry-wide view into what is happening in the world of procurement today. The research provides insight into the evolution of the role of a chief procurement officer (CPO) and the procurement function and its increasing prominence in business today, as well as the motivations and internal and external drivers that shape procurement leaders' priorities and plans this year and beyond. The report was developed by Ardent Partners and sponsored by SAP, Hubwoo, and Bristlecone.

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The research draws on the experience, performance, and perspective of nearly 250 chief procurement officers and other procurement executives. Readers will learn what strategies best-in-class procurement organizations are using to identify, foster, and deliver innovation and outperform their peers.

The report presents key industry performance and operational benchmarks for 2011, as well as actionable recommendations designed to improve procurement execution and performance. Also included in the report are case studies and insights from world-renowned CPOs, profiles of best-in-class performers and their distinguishing characteristics, and an introduction to the Ardent Partners Procurement Competency Matrix that establishes industry-wide capability measures for procurement organizations.

Among some of the key findings from the report:

• Finding and delivering savings is the top business pressure and priority for CPOs for 2011-2014. Improving processes is the next top CPO priority.
• CPOs note improved internal and supplier collaboration, as well as increased sourcing coverage, as the top key strategies they're focused on.
• Top purchasing organizations electronically enable over 33% of their supply base.
• Only 29% of procurement departments have full visibility into enterprise spend, pointing to the critical need for spend analytics.
• More than 39% of organizations have an integration gap between contract management and operational procurement, highlighting the importance of linking business processes to maximize sourcing and procurement opportunities.
• Best in class procurement organizations are reporting an average of 88% spend under management, and 77% of spend and transactions being contract compliant.

On Wednesday, September 28 at 11 a.m. EDT, Andrew Bartolini, chief research officer at Ardent Partners and author of the report, will host an interactive webinar during which the findings of the "CPO Rising 2011" report will be presented. To register for the webinar and to download a copy of the report, please visit http://hubwoo.com/news_detail.php?lang=en&id=68.

About Hubwoo (www.hubwoo.com)

Hubwoo is a leading global provider of Cloud Procurement solutions.  The Company manages The Business Network with over 200,000 active suppliers and over 150 major international corporations as buyer customers of which 50+ are in the Global 1000.  Significant customers include Honeywell, Shell, Evonik, EDF, Nokia, Monsanto, Michelin, Henkel, Statoil, The Hershey Company, 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

About Bristlecone

Bristlecone, (www.bcone.com) is a leading consulting and systems integration firm focused on helping clients maximize the strategic value of their supply chains. Headquartered in Silicon Valley, CA, Bristlecone helps clients across North America, Europe and the Asia/Pacific regions realize high business impact from improved operations through advisory, systems implementation and managed services. In the area of Integrated Sourcing and Procurement, Bristlecone services address client needs for Data Cleansing, Normalization and Enrichment, Spend and Risk Analysis, Strategic Sourcing, Contract Lifecycle Management, Operational Procurement and Analytics. Bristlecone provides these services via traditional on-premise, hosted, Software as a Service (SaaS) and BPO models. Bristlecone has been continually acknowledged by industry analysts and customers as a leader in solutions for the extended supply chain. Significant Bristlecone clients include globally recognized companies such as Credit Suisse, Callaway Golf, Tellabs Inc., Steelcase, Newell Rubbermaid, Wells Fargo, ABB, Exxon/Mobil, Freescale Semiconductor, LSI, Mahindra & Mahindra, Qatar Petroleum, Petronas, Ranbaxy, Silicon Labs, Sony, Unilever and Whirlpool.

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SAP Forward-looking Statement

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SOURCE Hubwoo