Hubwoo Announces Availability of Encryption Capabilities for its Cloud SolutionsJune 23, 2015
Providing customers with next-level data security in their journey to source-to-pay process excellence
Paris – June 23rd 2015 – Hubwoo (Euronext: HBW.NX), a leading provider of comprehensive spend management and business process automation solutions, today announced the immediate availability of encryption capabilities for its Source-to-Pay solutions in the cloud.
This new offering comes as part of Hubwoo’s continued commitment to its customers, by providing people, process and technology to help them realize the full savings potential of their source-to-pay investments whilst helping them achieve procurement process excellence throughout their global operations.
In an ongoing effort to help companies move to the cloud, Hubwoo now provides a data encryption option to ensure that its customers can comply with strict, both internal as well as regulatory, data security requirements. This option allows more companies the opportunity to move to the cloud, even those with the strictest of data security protocols, such as financial institutions.
Hubwoo’s Transparent Data Encryption (TDE) capability takes place at the database level, ensuring the protection of customer data against access from unauthorized users, safeguarding competitive information such as source of supply, award decisions, volume and unit price information.
TDE provides the ability to encrypt sensitive data, meaning even if the encrypted data is retrieved, it cannot be understood until authorized decryption occurs. Hubwoo provides TDE column encryption which enables the user to encrypt sensitive data stored in select table columns, as well as TDE tablespace encryption which means the user can encrypt all data stored in a tablespace. Both TDE column encryption and TDE tablespace encryption use a two-tiered, key-based architecture.
The availability of Transparent Data Encryption comes as part of Hubwoo’s continued focus on data security for its customers. Already a French publicly traded company with its data centers hosted in Europe, by adding TDE, Hubwoo takes security to the next level to help customers stay compliant with data security regulations, avoid risk, and still enjoy the efficiencies and savings of a collaborative source-to-pay business network.
More About Transparent Data Encryption:
TDE column encryption is used to protect confidential data, such as credit card and social security numbers, stored in table columns. TDE column encryption uses the two-tiered, key-based architecture to transparently encrypt and decrypt sensitive table columns. The TDE master encryption key is stored in an external security module, this master encryption key is used to encrypt the table key, which in turn is used to encrypt and decrypt data in the table column.
TDE tablespace encryption enables users to encrypt an entire tablespace. All objects created in the encrypted tablespace are automatically encrypted.
Gandhi Gopinath, CTO of Hubwoo said: “We are pleased to introduce TDE (Transparent Data Encryption) to our customers. Hubwoo is one of the few Cloud based Enterprise Software companies which bring such a capability to the market. The solution has been introduced after extensive performance & regression testing to ensure that customers benefit from data security, while not compromising on functionality. In addition, Hubwoo adheres to best-in-class Security Policies that supplement its solution capabilities.”
Greg Mark, CEO of Hubwoo said: “We often hear from our customers that choosing Hubwoo was partially due to the fact that we are a European company, with our hosting facilities in Europe, therefore immune to the data security concerns inherent to the US Patriot Act. That being said, we still hear and read that data security remains a major concern for moving to the Cloud. Therefore, in an effort to alleviate those concerns, and to meet customer demand for an even more secure Source-to-Settle solution, we are pleased to add TDE to our offerings. We believe that at present, we are the only company offering this option to the market.”
About Hubwoo (www.hubwoo.com)
Hubwoo connects companies, providing comprehensive spend management and business process collaboration 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 intuitive, one-stop purchasing experience, which drives adoption, compliance and savings.
Significant customers include BASF, Eni, Shell, Evonik, Microsoft, Nationwide, Henkel, CONSOL Energy, Suramericana, ING and Cemex. Hubwoo’s global partnerships include SAP, IBM, and TrustWeaver.
Jessica Warren (Senior Director – Head of Marketing and Communications)