Innovative Cloud Computing Award
Each year Southern Business Web & Networks presents its ICA Award (Innovative Cloud Application) the software company it thinks has developed a unique, useful, and innovative cloud application for business.
The criteria for the award are that the application must be web based, fill a significant market need, be innovative in concept, and deliver on the promise of a new paradigm for tackling a challenging business process. The application must be elegantly and innovatively designed, with a sleek and non-traditional interface that is intuitive to use, aesthetically pleasing and highly functional.
- 2012 - SBWebNet is pleased to award the ICA to VendorINSIGHT®. Exceeding in all the criteria, VendorINSIGHT® provides a balanced, process-integrated cloud solution that manages the entire vendor relationship from sourcing, to due diligence, risk management, contract management, performance reporting, and market monitoring.
By its nature, vendor management crosses multiple organizational boundaries and its process is highly complex with many interdependencies. Increasing enterprise risk management standards require that companies be able to produce evidence of a well-managed, integrated vendor management program. VendorINSIGHT® delivers a best-in-class cloud-based solution hybridized with outsourced process elements to establish a best-practices vendor management framework.
VendorINSIGHT®, through its comprehensive array of features and integrated workflow support easily becomes a system of record for all vendor activities and documentation, and a management tool to ensure high performance.
Congratulations to VendorINSIGHT®, SBWebNet's ICA winner for 2012.
- 2011 - SBWebNet is pleased to award the ICA to Sonabank Asset Based Lending (SABL). SABL is an elegantly designed Asset Based lending solution developed by Sonabank in Northern Virginia.
Asset Based Lending is a special type of lending that allows a bank's customers to borrow funds from the bank pledging their assets as collateral. The primary asset is the companies Account Receivable - money owed them by their customers. Since accounts receivable levels fluctuate as payments come in and new invoices are issued, it has always been difficult for banks to accurately determine the appropriate amount of collateral at any given time.
SABL addresses this issue by allowing bank customers to upload their accounts receivable to the bank through a user friendly web interface. Once uploaded, a predetermined formula is used that instantly lets the customer know how much they can borrow against an established line of credit based upon their current AR levels. The program is highly functional and easy to use for both the bank and its customers, delivering elegant functionality through the cloud.
Congratulations to Sonabank, SBWebNet's ICA winner for 2011.