Authentidate International AG Receives Auditor's Certificate for its Electronic Invoicing Solution with Digital Signatures; Certified Solution Provides New Level of Legal Compliance & Security Consistent with German Regulations
DUESSELDORF, Germany
Aug 10, 2005
Authentidate International AG, a subsidiary of Authentidate Holding Corp. (Nasdaq: ADAT), today announced that its electronic invoicing solution with digital signatures has been certified by one of the world's leading auditing firms. The company stated that the certification process tested the compliance of the Electronic Invoicing Solution with German bookkeeping and accounting regulations. The Company also stated that it believed that its solution was the first electronic invoicing solution certified as compliant with German bookkeeping and accounting regulations by an independent global auditing firm.
Any company intending to use a digital signature solution for electronic invoicing should ensure that the chosen signature software will meet current legal requirements. This will avoid unnecessary financial risks at a later date. Using signature solutions not conforming to legal regulations may result in missing acknowledgement of digitally signed electronic invoices. The interest then due to tax authorities for unauthorized VAT deduction may quickly reach significant amounts.
The complexity of electronic invoicing regulations often makes it difficult for companies to verify manufacturers' declarations regarding software compliance with statutory regulations. Authentidate International AG has taken a proactive step towards simplifying this decision for enterprises by having its signature software solution tested and certified by an independent, trusted authority.
Such certification enables Authentidate to offer a new level of trust and further proof of quality to its customers and business partners. Now, every company can easily verify the legal and regulatory compliance of Authentidate's digital signature solution for electronic invoicing in accordance with German bookkeeping and accounting regulations. At the same time, certification gives customers greater protection of their investment in software and significantly increased security in their electronic invoicing processes.
Electronic invoicing allows both senders and recipients to reduce costly paper invoices, but companies need special software to create signatures for electronic invoices. This software should be able to digitally sign large volumes of invoices automatically and quickly while providing fast and seamless integration into existing corporate processing environments. Electronic invoices in Germany must also comply with the stipulations of the turnover tax law (UStG), the commercial code (HGB), the fiscal code (AO), the principles of good accounting (GoB) and the electronic signature act. If legal stipulations for electronic invoices are not observed and fully met, larger financial risks may occur. Authentidate's electronic invoicing solution meets all of those criteria, as well as the additional benefit of certification by an authoritative third party.
"This is an important enhancement to one of our leading signature-based business process solutions," said Jan C. Wendenburg, President and CEO of Authentidate International AG. "Authentidate's electronic invoicing solutions have always provided a leading level of legal compliance for digital signatures. With this software certification from a leading auditing firm, however, we are now able to provide our new and installed customers with a clear and written statement from an independent third party about quality and compliance with statutory requirements of our digital signature software."
Many larger, high profile corporations in Germany, Europe and other countries have used Authentidate's solutions for many years, including providing electronic invoices with the legally required digital signatures. This enables both senders and recipients to reduce costly paper invoices by using electronic invoices conforming with international and local legal environments.
The full text of the certificate, including important terms and conditions regarding the scope of the auditor's certification, can be found at www.Authentidate.de/certificate.
The software solution for electronic invoices described above is available from Authentidate International AG's subsidiary Authentidate Deutschland GmbH.
About Authentidate International AG & Authentidate Deutschland GmbH
Authentidate (www.Authentidate.de), Duesseldorf, Germany, develops and provides vendor independent business-process solutions enabling for the first time anyone to integrate simply and quickly digital signatures and time stamps into existing corporate processing. The unique set of solutions, which can be used for almost any corporate process, i.e. billing, workflow, archiving, scanning and e-mail communication, will help to reduce costs significantly and optimize processing immediately.
Many high profile companies in various industries and governmental organizations using Authentidate digital signature solutions for years in Germany, Europe and other countries to substitute paper processing through 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 upon a common flexible and modular architecture. The elements of the unique offering, available from Authentidate Deutschland GmbH, may be used independently or in combination with other solutions. Today, many software vendors already have integrated Authentidate's signature products into their standard offerings. Therefore any organization now may easily benefit from automatic digital signatures processing.
In addition, Authentidate International AG 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 (Regulatory Agency for Telecommunications and Postal Affairs) in November of 2001 and operates a trust center especially for time stamp services.
The Authentidate Group is also present in USA and is today the sole supplier of the United States Postal Service(R) Electronic Postmark(R) (USPS(R) EPM(R)), a unique service for secure electronic communication in the USA. Authentidate Holding Corp, Inc. (New York) is listed on the NASDAQ (ADAT) and at German stock markets (Security Identification Code 893715).
About Authentidate Holding Corp.
Authentidate Holding Corp. (AHC) is the holding company which operates its software and services businesses in three segments: the Security Software Solutions Segment (fka Authentidate Segment, including Authentidate, Inc., Trac Medical Solutions, Inc. and Authentidate International AG), the Document Management Solutions Segment (fka Docstar Division) and the Systems Integration Segment (fka DJS). The Company is a worldwide provider of secure enterprise workflow management solutions that incorporate its proprietary and patent pending content authentication technology. Authentidate's offerings include the United States Postal Service Electronic Postmark Service (USPS EPM(R)), electronic signing solutions, and electronic forms processing solutions. Authentidate also provides secure document management solutions, and enterprise network security products and services.
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, 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.
SOURCE: Authentidate International AG
