OpenText Collaborates with Bayer to Simplify Digital Operations

Rhea-AI Summary

On March 1, 2023, OpenText (NASDAQ: OTEX) announced its collaboration with Bayer to implement the Business Network Cloud Enterprise for B2B integration, enhancing operational efficiency in the Consumer Health and Pharmaceuticals divisions. This initiative will begin with a proof-of-concept and aims to optimize integration with partners, allowing Bayer to focus on core business activities. OpenText’s solution enables simplified partner onboarding and transaction monitoring, positioning Bayer to streamline processes and improve global operations. This partnership highlights OpenText's capabilities in managing extensive B2B transactions and delivering real-time business performance insights.

Positive

• Collaboration with Bayer to enhance B2B integration, indicating strong demand.
• Deployment of Business Network Cloud Enterprise expected to improve operational efficiencies for Bayer.

Negative

• None.

WATERLOO, ON, March 1, 2023 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced that Bayer has selected OpenText™ Business Network Cloud Enterprise as a strategic solution for select B2B integration activities within the divisions Consumer Health & Pharmaceuticals, to increase agility and improve operational efficiencies. The collaboration was initiated with a proof-of-concept to be followed by roll-out activities.

With a more than 150-year history, Bayer is one of the largest healthcare and agricultural companies in the world. By deploying Business Network Cloud Enterprise, Bayer will optimize and simplify integration with partners, enabling the organization to focus on their core business.

"We expect that our collaboration with OpenText, from the onboarding of customers through its roll out, is poised to have a significant impact on our global processes," said Björn-Christian Volckmann – Global Process Owner Order-2-Cash, Commercial Operations (Consumer Health & Pharmaceuticals). "As a global B2B EDI provider and trusted partner, OpenText will provide curated support and enable us to continue prioritizing leading edge solutions that will make a difference in communities around the world today, and well into the future." 

Through industry leading Business Network Cloud Enterprise, OpenText supports the day-to-day operations relating to an organization's B2B integrations. By managing systems, integration, partner onboarding, transaction monitoring and more, OpenText enables companies to focus on their core competencies while benefitting from access to real-time business performance insights, simplified interaction with trading partners and a digital backbone that connects people, systems and things.

"With billions of B2B transactions being exchanged globally between organizations every year, successful and effective integration can be extremely costly and complex, often requiring continuous investment, specialized technology and expertise, to manage," said Muhi Majzoub, Chief Product Officer at OpenText. "By leveraging OpenText™ Business Network Cloud Enterprise, Bayer will be able to focus on their core business priorities with a simplified and harmonized system landscape that is backed and supported by one of the largest B2B Networks in the world."

To learn more about OpenText™ Business Network Cloud Enterprise read here.

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 obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Copyright © 2023 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.

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SOURCE Open Text Corporation

FAQ

What is the collaboration between OpenText and Bayer about?

OpenText is collaborating with Bayer to implement the Business Network Cloud Enterprise for improving B2B integration and operational efficiency.

What does OpenText's Business Network Cloud Enterprise do?

It facilitates partner onboarding, transaction monitoring, and streamlines B2B integrations, allowing companies like Bayer to focus on their core business.

When was the collaboration announcement made?

The collaboration was announced on March 1, 2023.

What sectors of Bayer will benefit from this collaboration?

The Consumer Health and Pharmaceuticals divisions of Bayer will benefit from this collaboration.

What is the stock symbol for OpenText?

OpenText's stock symbols are NASDAQ: OTEX and TSX: OTEX.