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OB10 Enhances Electronic Invoicing Service with Authentidate's Electronic Signature Technology
Electronic Invoices Can Now Include Signatures in Accordance with the Value Added Tax Act, German Electronic Signature Act and EU Signature Directives
DUSSELDORF, Germany, and LONDON, England
May 3, 2007
OB10, operator of the leading global e-Invoicing network, today announced that it has partnered with Authentidate Deutschland GmbH, a specialist for electronic signature solutions, to enhance its invoicing offerings by utilizing Authentidate's digital signature technology. Authentidate Deutschland is a subsidiary of Authentidate Holding Corp. (Nasdaq: ADAT), a worldwide secure enterprise workflow management application provider.
Authentidate's digital signature technology will be used to generate qualified electronic signatures embedded into OB10 invoice images, enabling the images to be utilized as legal Value Added Tax documents without any additional paper file.
OB10 currently streamlines invoice processing by importing all relevant invoice data directly into the buyer's accounts payable system, thereby reducing data entry errors while also providing the ability to automatically match invoices. OB10's system automatically creates a PDF image of every invoice it processes through its service, allowing customers to maintain an electronically signed reference document for improved auditing of their records.
OB10's invoice images are designed to look like traditional paper invoices, allowing key data to be identified quickly. Invoice images can be emailed or delivered in batches using the customer's preferred delivery method. All invoice images are also stored in the OB10 ImageArchive and can be viewed or downloaded at any time, 24 hours a day, 7 days a week.
The technology behind Authentidate's eBilling Signature Solution complies with signature laws including the EU Signature Directives and the German Electronic Signature Act, as well as the European Tax Directive and German Value Added Tax Act.
In addition to offering an embedded electronic signature, OB10 can also provide an additional Authentidate verification file. When applied, a verification file will accompany an invoice image file to verify that the electronic signature meets certain legal requirements and that the invoice can be used as a Value Added Tax document.
"In addition to being highly regarded in the marketplace, Authentidate's software also meets all of the necessary technological, tax and legal requirements that are needed to process electronic invoices securely and efficiently," said OB10's CEO Jamie Gunn. "By partnering with Authentidate, we can offer peace of mind to our customers, demonstrating our total compliance with the very latest industry regulations."
Jan C. Wendenburg, CEO at Authentidate International AG, the parent of Authentidate Deutschland GmbH, stated, "Companies that want to reduce costs and improve efficiency are realizing that e-Invoicing makes good business sense. By bringing the benefits of our internationally proven eBilling Signature Solution to OB10's global e-Invoicing network, OB10 customers can rest assured of full European Tax Directive and German Value Added Tax compliance."
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 or software, and OB10 is independent of data file formats.
OB10 can reduce the cost of paper invoice processing by up to 60 percent and delivers an ROI in less than a year. 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 in over 70 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 in Europe and North America include: HP, GSK, Agilent, General Motors, Barclays, Crown Holdings, Cargill, ArvinMeritor, Computacenter, Mohawk Industries, Greif, ColdWater Creek, P&G, TUI, OyezStraker Office Supplies, Eaton, Medas (BBC), Fisher Scientific, Xansa (BT), North Yorkshire County Council, East Lancashire Financial Services, SaraLee, East Riding of Yorkshire Council, LogicaCMG and Kellogg's.
About Authentidate International AG
Authentidate International AG in Düsseldorf, Germany, develops and provides independent business-process solutions enabling customers to simply and quickly integrate digital signatures and time stamps into existing corporate processes. The unique set of solutions can be used for almost any business process (i.e. billing, workflow, archiving, scanning and e-mail communication) to significantly reduce costs and optimize processing immediately.
Many high-profile companies in various industries and governmental organizations have used Authentidate's digital signature solutions for years in Germany, Europe and other countries to substitute paper processing with legally binding, electronic business processes in accordance with international and local legal environments.
For the first time, professional signature solutions are available either as boxed products, web services or individual solutions, based on a common, flexible and modular architecture. The elements of the unique offering, available from Authentidate may be used independently or in combination with other solutions. Today, many software vendors have already integrated Authentidate's signature products into their standard offerings. Therefore any organization now may easily benefit from automatic digital signatures processing.
In addition, Authentidate offers governmentally certified trust center services in accordance with the German Signature Act and the EU Signature Directive. Authentidate International AG was accredited by the German Federal Network Agency in November of 2001 and operates a trust center especially for time stamp services.
About Authentidate Holding Corp.
Authentidate Holding Corp. is a worldwide provider of secure enterprise workflow management applications that incorporate its proprietary and patent pending content authentication technology in the form of the United States Postal Service® Electronic Postmark® and electronic signing solutions.
The company operates its business in the United States and Germany, which includes Authentidate, Inc., Trac Medical Solutions, Inc. and Authentidate International AG. For more information, visit the company's website at http://www.authentidate.com/.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of the Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, related decisions by the USPS, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
All trade names are the property of their respective owners.
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Press Release 05-03-07 
