PARIS, June 25, 2012 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leading global provider of Cloud Procurement services and The Business Network, today announced the extension of its global business process outsourcing (BPO) agreement with SAP AG. The announcement underscores the customer success to date resulting from the existing agreement and provides a framework to further continue cooperation on joint go-to-market activities. Through the renewal of the BPO agreement, Hubwoo will offer outsourcing and on-demand services "powered by SAP® software," providing customers rapid value across their source-to-pay business processes. The agreement is now extended for an incremental minimum of three years beyond the five year term of the initial agreement.
"The extended agreement with SAP will continue to play a strong role in Hubwoo's Business Network growth strategy," said Greg Mark, CEO, Hubwoo. "The SAP partnership allows us to bring additional scale and community to our open network that drives value across a full spectrum of business processes for global buying and selling organizations."
Hubwoo's Outsourcing and On-Demand Services Qualified as "Powered by SAP"
As a provider of outsourcing and on-demand services that qualify as "Powered by SAP," Hubwoo will continue to deliver high-quality business services including SAP solutions in a standardized way. With the extended agreement, Hubwoo will continue to focus on reducing clients' total cost of ownership (TCO), accelerate time to business value, and reduce risks often associated with the outsourcing of business services. Supporting these benefits, the relationship also allows customers to further leverage the value of their existing investments in SAP solutions through the use of ProcessConnect by Hubwoo, the gateway to Hubwoo's Business Network and integration hub, which has achieved SAP certification as powered by the SAP NetWeaver® technology platform.
Scope of Agreement
The scope of the extended agreement encompasses SAP applications that span the full source-to-pay business process, supporting customers' demands for flexible deployment models, value-added services, and rapid time to value. Hubwoo augments these SAP applications with a leading global B2B business network, rapid-deployment methodology, low-cost infrastructure, and best practices delivered as-a-service that provide immediate results. Hubwoo enables buying organizations to more effectively source, buy and pay, and enables selling organizations to better market, sell and manage their invoicing processes.
- Hubwoo services in support of SAP applications deployed on demand, covered by the BPO agreement, include the following:
- eAnalyze – Spend analysis service offering based on the SAP Spend Performance Management analytic application - identifies savings potential, priorities and supply risk
- eSource – Sourcing and supplier information management solution based on the SAP Sourcing application - negotiates savings through RFx and reverse-auction processes
- eContract – Contract lifecycle management based on the SAP Contract Lifecycle Management (SAP CLM) application - applies sourcing savings via repeatable and compliant contract management
- eBuy – eProcurement solution based on the SAP Supplier Relationship Management (SAP SRM) application - realizes savings by bringing maverick spend on-contract
- Additional value-added technologies and services from Hubwoo
- The Business Network - Hubwoo's market-leading B2B collaboration network - accelerates value by mass enabling thousands of suppliers electronically through a guaranteed supplier onboarding commitment
- Catalog & Search - Hubwoo's best-in-class cloud catalog content authoring and search capabilities - increases spend under management through automation and consumer-friendly search experience
- Match & Approve – Unique invoice management solution that allows buyers to define business rules from the time of invoice presentment through dispute management through matching – decreases errors, cycle time and invoice management effort
- Invoice & Payment Status – Hubwoo offering that eliminates invoice & payment status inquiries to Accounts Payable by bringing it all to the cloud
- Services Procurement – Hubwoo solution that shrinks services spend by bringing simple and complex services under management
- Master Data Exchange – Integration framework that reduces administration through master data exchange between the cloud and on-premise, including Hubwoo's new Supplier Master Sync that shifts the burden of vendor master updates to suppliers in the cloud
About Hubwoo (www.hubwoo.com)
Hubwoo is a leading global provider of source to pay solutions in the cloud. The Company manages a 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
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