AuthentiDate International AG
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AuthentiDate eBilling Signature for Dow Chemical
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AuthentiDate eBilling Signature Provides International Electronic Invoicing
Solution for Dow Chemical
Schenectady, N.Y., Sept. 04, 2003 – AuthentiDate International AG, a subsidiary
of Au-thentiDate Holding Corp. (NASDAQ: ADAT), announced today that the Dow
Chemical Company has implemented the AuthentiDate eBilling Signature Solution,
which enables Dow to provide electronic invoicing for customers in compliance
with stringent elec-tronic invoicing legal requirements. Electronic invoicing
helps Dow streamline internal processes and eliminates costs associated with
paper invoices.
While financial terms were not disclosed, AuthentiDate will generate revenue
through up-front licensing fees and per transaction charges.
Since January 2002, German tax laws have required signatures on electronic
invoices to provide guaranteed tamperproof authentication and data integrity by
a government authorized electronic signature provider. This legal requirement
is part of the 2001 European Community (EC) Tax directive for electronic
invoicing within the European Community. Without qualified digitally signed
invoices, recipients by law cannot deduct value added taxes (sales tax), which
would cause them to lose 16 percent of the total invoiced amount.
In light of these new tax laws, Dow chose AuthentiDate s eBilling Signature
Solution because of its need for international compliance and to protect the
investments it has made in distributing invoices electronically. The eBilling
Solution provides a flexible electronic invoicing platform that enables Dow to
meet the national and local needs of its customers around the globe. It also
allows Dow to choose its preferred vendor for electronic certificates and
signatures by providing compliant digital signatures for e-mail invoices as well
as ChemXML electronic invoices that Dow sends and receives through Elemica s
connectivity hub. Customers requesting XML invoices through Elemica will also
receive e-mail invoices with e-signatures. AuthentiDate provides a means for
the customer and Dow to be fully compliant with Legal and Tax legislation.
Making it easier to do business
By replacing paper-based invoice processing with electronic invoicing, Dow
streamlines internal processing and reduces costs associated with printing,
shipping and handling. Since May of 2000, Dow has processed between 270,000 and
300,000 electronic invoices in Europe alone, creating 90 percent efficiency
over paper-based invoicing.
Electronic invoicing also makes it easier for Dow s customers to do business
with the company. Processing electronic invoices is simpler, faster and more
secure than paper-based invoicing and, in the case of XML messages, eliminates
manual data entry and invoice scanning, guaranteeing data accuracy. Electronic
invoices can be forwarded to (e.g. by e-mail) and approved by departments in
other locations more quickly, further reducing costs for companies like Dow and
its customers.
“AuthentiDate s technology provides a secure, proven international solution.
With just one tool, we can comply with legal requirements in all EU countries
rather than implementing a solution in each country. In addition, AuthentiDate
s technology allows us to continue reaping the benefits of our investment in
electronic invoice distribution. It fits with our strategy to achieve zero
percent paper mailings and 100 percent electronic distribution. The solution has
eliminated legal and tax barriers to sending electronic invoices and our
biggest challenge now is spreading the word to customers and showing them how
they benefit as well,” said Wim Jansen, Global Project Manager Customer
Invoicing & Settlement Services at Dow Chemical. “The technology has simplified
our out-bound invoicing process and we are currently implementing incoming
electronic invoices as well, feeding our Accounts Payable Applications.”
About AuthentiDate:
AuthentiDate International AG ( http://www.authentidate.de ), Düsseldorf,
Germany is the first Accredited Certification Provider, approved by the German
Regulatory Authority for Telecommunications and Posts (RegTP), providing legally
binding time stamps compliant with stringent German electronic signature laws
and European signature directives.
AuthentiDate is also the first accredited vendor to provide business process
solutions based on electronic signatures and time stamping technology. These
solutions feature easy integration, high economic efficiency, platform
independence and investment protection.
Well-known companies in a variety of industries use AuthentiDate solutions
worldwide. Customers use the Signature Solutions to achieve legal security with
eBilling, archiving, scanning and workflow. In addition, AuthentiDate s
technology is integrated into various products from other manufacturers,
automatically providing many companies with legal security for business
processes.
The AuthentiDate Group has a worldwide presence in Europe, the USA and through
partners also in Asia. AuthentiDate Holding Corp, Inc., located in USA (New
York), is listed on the NASDAQ stock exchange (ADAT) and in Germany (WKN
893715).
About AuthentiDate Holding Corp.
AuthentiDate Holding Corp. (AHC) is the holding company of five business units;
DocStar, AuthentiDate International AG, AuthentiDate, Inc., DJS Marketing
Group/Computer Professionals International and Trac Medical Solutions, Inc.
DocStar sells a complete line of proprietary document imaging products.
AuthentiDate and AuthentiDate AG provide digital data authentication through its
proprietary and patent pending technology. AuthentiDate intends to establish
itself as the authority on “content security” as it is a growing sector of the
electronic network security infrastructure market. DJS delivers professional
services centered around technology systems integration projects, staff
augmentation, out-tasking, outsourc-ing services and resells computer related
products. Trac Medical uses the AuthentiDate service in the medical supply
business.
About Dow Chemical
Dow is a leading science and technology company that provides innovative
chemical, plastic and agricultural products and services to many essential
consumer markets. With annual sales of $28 billion, Dow serves customers in
more than 170 countries and a wide range of markets that are vital to human pro-
gress, including food, transportation, health and medicine, personal and home
care, and building and construction, among others. Committed to the principles
of Sustainable Development, Dow and its approximately 50,000 employees seek to
balance economic, environmental and social responsibilities.
For further information, visit Dow s website at http://www.dow.com .
Contact:
AuthentiDate International AG
Großenbaumer Weg 6
40472 Düsseldorf
Tel. ++49 (0)211 – 43 69 89 0
Fax ++49 (0)211 – 43 69 89 19
Judith Balfanz, Director Marketing
presse@authentidate.de
http://www.authentidate.de
end of message, (c)DGAP 04.09.2003
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WKN: 893715; ISIN: US0526661048; Index:
Listed: Freiverkehr in Berlin-Bremen und Frankfurt
041200 Sep 03
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