Hubwoo Ranks in the Top 150 of the World's 500 Largest Cloud Applications Vendors

PARIS, Sept. 11, 2014 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leading provider of comprehensive spend management and business process collaboration solutions, today announced that the company has been ranked in the top 150 of the Cloud Apps Top 500 list.

Apps Run The Cloud has conducted the biggest research study of its kind that spotlights the explosive growth of the world's 500 largest enterprise applications vendors.

According to the study, the Cloud applications market, which covers functional areas like Financials and Human Resources as well as vertical segments like banking and insurance applications, is projected to reach $67 billion in Cloud subscription revenues by 2018, compared with $30 billion in 2013. Its compound annual growth rate of 17% through the forecast period stands in sharp contrast to the conventional on-premise software market, which is expected to contract 1.5% during the same period.

Source: Apps Run The World, July 2014

About Hubwoo's cloud solutions:

Hubwoo is the operator of one of the world's largest source-to-pay process automation solutions. With a global focus and global client base, Hubwoo has more than 150 international enterprise buying customers with over 100 million catalog items and around 300,000 daily users, based in more than 70 countries.

"I would like to commend Hubwoo for becoming part of Cloud Top 500 in our annual Apps Run The Cloud Survey. Leveraging the ubiquity of the Cloud, Hubwoo has made great strides in broadening the appeal of SRM applications and reshaping the overall market," said Albert Pang, president of Apps Run The World.

Greg Mark, Hubwoo CEO commented: "We are very proud to have achieved a ranking in the top 150 of the global Cloud Apps Top 500 list. This is a testament to our continued dedication to providing our customers with an easy to use cloud solution which drives adoption, compliance and savings."

About APPS RUN THE WORLD (www.Appsrunthecloud.com)

Founded in 2010, APPS RUN THE WORLD is reshaping the IT market research industry with an innovative approach to delivering quantitative and qualitative research on vertical and horizontal applications products, vendors and emerging technology trends through a number of Super Sites as well as an extensive portfolio of worldwide research services for users, vendor executives, institutional investors and other key stakeholders.

About Hubwoo (www.hubwoo.com)

Hubwoo connects companies by providing comprehensive spend management and collaborative business process automation solutions for both goods and services, in the cloud, through The Business Network.

Our solutions integrate with any ERP or procurement system, providing our customers with an easy to use solution which drives adoption, compliance and savings.

Significant customers include BASF, Honeywell, Shell, Evonik, EDF, Nokia, Nationwide, Michelin, Henkel, Statoil, CONSOL Energy, EcoPetrol, Campbell's, Burton's Foods, and The Dow Chemical Company. 

Hubwoo's global partnerships include GEP, 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

Follow us on Twitter: @Hubwoo and LinkedIn: http://linkedin.com/company/hubwoo

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SOURCE Hubwoo

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