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