In his recent public press release the 10th of May, Alain Andreoli (CEO of CC-Hubwoo) reported that: “Consolidated revenues for the first quarter were 8.0 million euros, in line with the Group’s expectations. On a constant exchange basis, revenues for the first quarter were flat versus 2006. The company has previously announced that it expects to be cash-positive and profitable in 2007. The progress made during the first quarter in both cost control and revenue management allows the company to re-affirm this position.”
Overall, the press release is smartly underlining that CC-Hubwoo is on a good track to execute its plans as presented to the shareholders at the begin of the fiscal year 2007. Some news are really good. Here they are:
- Targeted revenue is reached,
- The company brought to market two major new products:an integrated e-invoicing capability and CSP (Complex Services), a functionality-rich set of applications allowing clients to manage complex contractual relationships with service providers,
- SAP (one of the top 5 biggest shareholders) is embracing – at last!- the on-demand market and might help further CC-Hubwoo in its development,
- Shareholders approve the implementation of a streamlined board structure, with the introduction of a single Board of Directors.
It looks like Mr. Andreoli has smoothly taken the drive, with verve. For that matter, here is an excellent presentation of CC-Hubwoo operational status and Procurement-knowledge, presented by Mr. Andreoli himself at ProcureCon.
One point though, is – voluntarily – omitted: The potential benefits and commercial leads from their partnership with Procuri is no-where mentioned. As I said in a former post… I personally don’t see the fit and business value of a true eSourcing + eProcurement partnership; more-over, it is well known that a non-justified diversification can be dangerous, business wise.
I am now awaiting eagerly for the next annoucement which shall make reference to their progress on their Supplier Network offering. Hopefully.