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Increase in Revenue, Customers, and Transactions Positions OB10 for a strong 2011

Global e-Invoicing leader has another stellar year as worldwide economy shows signs of improvement.

London February 09, 2011 – OB10 today announced significant growth across the business in 2010, highlighting an increase in the number of customers, an increase in revenue by 30 percent and an increase in transaction volume by 54 percent. In addition, OB10 boasts a growing worldwide supplier network of 92,000 companies. Although worldwide economic uncertainty has eased in recent months, OB10 has demonstrated an ability to thrive under a variety of economic circumstances, showing consistent year on year growth of over 30 percent.

“As the worldwide economic environment begins to show improvement, OB10 is well positioned to maintain its double-digit growth and expansion into new global markets,” said Stefan Foryszewski, Senior Vice President, OB10. “More blue-chip organisations are discovering that by making e-Invoicing a core component of their back office accounts payable operations, they are able to streamline their processes, save money, better manage cashflow and increase efficiency in a sustainable, environmentally friendly way.”

Examples of companies who joined the OB10 Network in 2010 include: Bristol-Myers Squibb, Kimberly-Clark and Kraft Foods.

According to IOMA’s 2010 Guide to AP Automation, Andy Dzamba, APM, editor-in-chief of IOMA’s Web site, AccountsPayable360.com, invoice automation is the best way to help an accounts payable operation to shine. “Automation not only helps AP make a positive impact at the company, it can also help you make your case when you want to get a project approved by senior management.” Dzamba also identifies the top reasons for automating AP, including boosting the budget, enhancing efficiency, eliminating errors, reducing fraud and contributing to cashflow.

“During the past year, our team has worked extremely hard in delivering value to our customers,” said Foryszewski. “By effectively leveraging our complete in-house, end-to-end implementation and program management services from our offices in London, Atlanta, Kuala Lumpur and Sofia, Bulgaria, we provide services that are unmatched. We’re confident that we’ll continue to deliver impressive results this year as more organisations look to implement e-Invoicing solutions. We finished 2010 on a very strong note and we see that momentum continuing into 2011.”

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About OB10
OB10 (www.ob10.com) is the leading global B2B e-Invoicing network. OB10 simplifies and streamlines the complex invoice-to-pay processes. Neither client organizations nor their suppliers are required to implement any hardware of software, and OB10 is independent of data file formats. OB10 can reduce the cost of paper invoice processing by typically 60 percent and can deliver an ROI in less than a year if the programme follows OB10’s best practice guidelines. Operational across Europe, North America and Asia, OB10 is compliant with the requirements of VAT, tax and e-Invoicing legislation and receives invoices from suppliers across 137 countries. To ensure unrivalled and rapid supplier enrolment, each new customer’s suppliers are supported by an implementation services team responsible for getting them up and running on the OB10 network.

Customers include: Agilent Technologies, Amgen, Aviva, Barclays, BP, British Energy, Cargill, Computacenter, Deutsche Lufthansa AG, DHL, Dr. Pepper, DSG International, Eli Lilly & Company, Fisher Scientific, General Motors, GlaxoSmithKline, Hewlett Packard, Hertz, IBM, Imperial College, Kellogg’s, Kraft, Logica, Mohawk Industries, Motorola, Pfizer, SaraLee, Schneider Electric, Severn Trent Water, Shaw Industries, Steria, Tesco, Unilever, US Federal Government, Whirlpool and Xerox.

Company Contact:                            
Andrew Hamilton, Head of Marketing, EU, OB10    
tel: +44(0)20 7632 5883                        
email: andrew.hamilton@OB10.com             
Website: www.ob10.com 

Press Contact:
Nick Bolshaw, Rostrum Communications
tel: +44(0)207 392 2632
email: nick@rostrumpr.com