Latest OpenText Business Network Cloud Innovations Drive Seamless Connectivity Across Digital Ecosystems

Rhea-AI Summary

OpenText (NASDAQ: OTEX) showcased its latest Business Network Cloud innovations at the Gartner Supply Chain Symposium/Xpo 2022, addressing supply chain disruptions caused by global challenges. The new Business Network Cloud Foundation offers a unified integration environment for over one million trading partners, enhancing digital supply chain capabilities for businesses of all sizes. Despite the push for digitization, a significant gap in digital maturity persists among supply chain officers. OpenText's solutions aim to support seamless information exchange and process automation in evolving supply chain ecosystems.

Positive

• 88% of companies in Gartner's Supply Chain Top 25 utilize OpenText solutions.
• New Business Network Cloud Foundation designed for scalability and cost efficiency.
• Innovative solutions showcased include Trading Grid, Active Access, and Active Invoices with Compliance Solution.

Negative

• Many supply chain officers report digital maturity remains in pilot phases, limiting effectiveness.

OpenText Showcases Business-to-Anything Integration at Gartner® Supply Chain Symposium/Xpo 2022

WATERLOO, ON, June 6, 2022 /PRNewswire/ -- As businesses everywhere reassess their supply chains in response to continued global disruptions, OpenText™ (NASDAQ: OTEX), (TSX: OTEX), a leading provider in supply chain integration solutions, is helping power the future of supply chain operations through their latest Business Network Cloud innovations. The company is set to showcase several of their solutions at Gartner Supply Chain Symposium/Xpo™ 2022.

"Global supply chain disruptions have forced companies to rethink their operations," said Sandy Ono, Executive Vice President and CMO at OpenText. "As leaders accelerate investments in new digital supply chain technologies, ensuring these technologies work efficiently together is a strategic priority. OpenText has a full portfolio of supply chain integration solutions to help businesses digitize their processes, gain end-to-end visibility across their connected business ecosystem, and better respond to changing global trade dynamics."

According to an Accenture survey, eight out of ten chief supply chain officers acknowledge that accelerating digitization of supply chains is essential, but that current digital maturity is still stuck in pilot phase and hindered by aging legacy technologies and lack of funds.

Leader in supply chain integration with unparalleled global delivery capabilities and future-proof technology

OpenText is an indisputable leader in the supply chain market. In fact, 88 per cent of companies listed in Gartner's Supply Chain Top 25 for 2022 leverage OpenText Business Network Cloud solutions.* New to market and designed for companies of all sizes is OpenText Business Network Cloud Foundation (BN Cloud Foundation). This recent offering provides a single, unified integration environment that allows companies to seamlessly integrate with more than one million pre-connected trading partners, including suppliers, logistics carriers, distributors and financial institutions anywhere in the world. BN Cloud Foundation leverages powerful self-service capabilities and pre-built ERP adapters to empower companies of all sizes to implement and manage their own integration environment. This new offering brings enterprise-grade integration capabilities to mid-market size companies in a more cost-efficient way, while providing a more "future proof" platform that can scale to meet evolving business needs.

 "Following recent business mergers and acquisitions, we were in need of a significant change to our existing software in order to integrate the management of our business processes," said Kelly Kleinfelder CIO, Jacent Strategic Merchandising. "We are excited to work with OpenText leveraging their Business Network Cloud Foundation solution to help integrate our businesses information and processes, simplify and accelerate our digital transformation, and offer us the scalability we need for a successful future."

Mastering Business-to-Anything Integrations

The OpenText Business-to-Anything (B2A) integration approach is the future for successful supply chain operations. During the Gartner Supply Chain Symposium/Xpo, Ville Parkkinen, Director, Product Marketing, Business Network, at OpenText is presenting a session focused on the evolution of supplier collaboration, and how a business-to-anything integration approach enables seamless information exchanges between people, systems, and things across the digital ecosystem. Parkkinen will also share insights on how organizations can avoid creating isolated data silos while increasing their use of technology to support better process automation and greater visibility into their supply chain network.

Other Business Network Cloud innovations on display at The Symposium/Xpo's OpenText booth #207 include:

• OpenText Trading Grid: enables organizations to leverage an ERP application adapter for SAP S/4HANA to support order-based transaction flows and enhanced self-service features. As part of its Business-to-Anything approach, Trading Grid offers a range of connectivity options, including a large library of API connectors for companies that want to optimize and successfully integrate supply chain processes into business systems such as SAP, Oracle, and SalesForce.
• OpenText Active Access: provides secure, single sign-on access to supply chain information for both internal and external users to facilitate digital collaboration. It enables centralized user management with the ability to delegate admin tasks to partners to lower costs and improve quality of user data.
• OpenText Active Invoices with Compliance Solution: automates electronic invoicing and ensures compliance with the constantly evolving global e-Invoicing regulations. It eliminates the complexity of varying country regulations in global business and shields users from the risk of increasing regulations impacting Procure-to-Pay and Order-to-Cash business processes.

Leveraging insights from working with the world's leading supply chains, Business Network Cloud releases new innovations every quarter to help customers improve supply chain integration and accelerate digital transformation initiatives. Later this month, OpenText will also announce the latest integrations and product features that will be available in its newest OpenText Cloud Edition. 

Join us at the Gartner Supply Chain Symposium/Xpo June 6-8 in Orlando, Florida. Register here for a meeting with OpenText.

Sources:

*Gartner, The Gartner Supply Chain Top 25 for 2022: Masters, Top 25 and Industry Leaders, Mike Griswold, Pia Orup Lund, 25 May 2022.

GARTNER and SUPPLY CHAIN SYMPOSIUM/XPO are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About OpenText

OpenText, The Information Company™, enables organizations to gain insight through market-leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com

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Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Copyright © 2022 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents.

Further information: 

Jaclyn Atwood-Powell
OpenText
publicrelations@opentext.com

OTEX-G

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SOURCE Open Text Corporation

FAQ

What innovations did OpenText showcase at the Gartner Supply Chain Symposium/Xpo 2022?

OpenText showcased its Business Network Cloud innovations, including the Business Network Cloud Foundation, which enhances digital supply chain capabilities.

What is the significance of the Business Network Cloud Foundation for companies?

The Business Network Cloud Foundation facilitates seamless integration with over one million trading partners, promoting scalability and cost efficiency in supply chain management.

What percentage of Gartner's Supply Chain Top 25 companies leverage OpenText solutions?

According to OpenText, 88% of companies in Gartner's Supply Chain Top 25 for 2022 utilize their solutions.

What challenges do supply chain officers face regarding digital maturity?

Many chief supply chain officers acknowledge that their digital maturity is still in pilot phases, impacted by outdated technologies and funding shortages.

What solutions did OpenText present to enhance supply chain integration?

OpenText presented solutions such as Trading Grid for SAP integration, Active Access for secure supply chain information access, and Active Invoices for global e-invoicing compliance.