OpenText IT Management Platform Achieves FedRAMP® Authorization

Rhea-AI Summary

OpenText has received FedRAMP authorization for its IT Management Platform (ITMX), enhancing its commitment to providing secure cloud solutions for government agencies. ITMX includes Service Management Automation X (SMAX), Asset Management X (AMX), Universal Discovery and CMDB (UCMDB), and Project and Portfolio Management (PPM).

Key capabilities of ITMX include a single intuitive self-service portal, AI-driven support, codeless configurations, and powerful discovery of IT assets. This authorization allows U.S. federal agencies to confidently use OpenText's solution to deliver modern user services, increase IT productivity, and reduce risks and costs.

OpenText partner Carahsoft will distribute ITMX and other OpenText products to public sector organizations. Additionally, OpenText's Fortify on Demand and OpenText Cloud for Government have also achieved FedRAMP authorization.

Positive

• OpenText IT Management Platform (ITMX) received FedRAMP authorization, expanding market opportunities in the government sector
• ITMX offers a comprehensive ITSM solution that can reduce Tier 1 support costs for government agencies
• The platform includes advanced features like AI-driven support and codeless configurations, potentially increasing IT productivity
• Partnership with Carahsoft, a top government IT solutions provider, for distribution of ITMX and other OpenText products
• Two additional OpenText products, Fortify on Demand and OpenText Cloud for Government, have also achieved FedRAMP authorization

Negative

• None.

Government IT Specialist

OpenText's FedRAMP authorization for ITMX is a significant development for federal agencies seeking to modernize their IT infrastructure. This certification addresses a critical need in the public sector, where 78% of organizations view ITSM solutions as important for digital transformation. The authorization will likely accelerate adoption of OpenText's solutions in government agencies, potentially expanding their market share in this sector.

The inclusion of AI-driven support and codeless configurations in ITMX could lead to substantial cost savings and efficiency improvements for agencies. However, the real test will be in the platform's ability to integrate with legacy systems and meet the unique compliance requirements of different government departments.

Cloud Security Analyst

The FedRAMP authorization for OpenText ITMX is a major milestone in terms of security compliance. This certification ensures that the platform meets rigorous security standards, which is important for handling sensitive government data. The authorization extends to other OpenText products like Fortify on Demand and OpenText Cloud for Government, creating a comprehensive secure ecosystem.

The emphasis on software composition analysis and Software Bill of Materials generation in Fortify on Demand is particularly noteworthy, as it addresses the growing concern of supply chain security in software development. This feature could be a key differentiator for OpenText in the competitive government IT solutions market.

Financial Analyst

While specific financial figures are not provided, the FedRAMP authorization opens up a significant market opportunity for OpenText in the U.S. federal sector. The government IT market is substantial and this certification positions OpenText to compete more effectively against established players. The partnership with Carahsoft, a top government IT solutions provider, could accelerate sales and distribution within this sector.

Investors should monitor for potential revenue growth in OpenText's public sector business in upcoming quarters. The company's ability to cross-sell its FedRAMP-authorized products (ITMX, Fortify on Demand and OpenText Cloud for Government) could lead to higher average deal sizes and improved profit margins in this vertical.

New FedRAMP authorized solution provides government organizations a simpler way to deliver IT services

WATERLOO, ON, Sept. 11, 2024 /PRNewswire/ -- OpenText (NASDAQ: OTEX, TSX: OTEX) today announced it has received authorization for the OpenText IT Management Platform (ITMX) from the Federal Risk and Authorization Management Program (FedRAMP®), advancing OpenText's commitment to providing comprehensive and modern, government-compliant and secure cloud solutions. With ITMX, government agencies can reduce Tier 1 support costs with a full-featured IT service management (ITSM) platform that is less complex and costly to deploy and manage than competitors, while accelerating application delivery through AI and automation.

Public sector organizations face a number of significant challenges when delivering IT services including a reliance on aging legacy systems, high service demands and expectations, as well as resource and budget constraints. According to a survey by Forrester Research, 78% of public sector organizations consider ITSM solutions crucial for delivering on their digital transformation goals. Implementing advanced ITSM solutions helps streamline operations, reduce downtime, and enhance the overall effectiveness of IT systems by providing structured frameworks for managing incidents, problems, and changes. This all results in improved service quality and response times, which are crucial for meeting the high expectations of public service users. Additionally, effective IT service management helps in optimizing resource use and minimizing costs, making it a valuable investment for maintaining transparency and accountability in government operations.

OpenText ITMX includes Service Management Automation X (SMAX), Asset Management X (AMX), Universal Discovery and CMDB (UCMDB), and Project and Portfolio Management (PPM). United States federal agencies can feel confident using the OpenText solution to deliver modern user services, increase IT productivity and reduce risks and costs.

 "The availability of FedRAMP authorized IT service management cloud solutions from OpenText validates our commitment to helping U.S. government agencies digitally transform how they work to deliver an intelligent total citizen experience," said Muhi Majzoub, EVP and Chief Product Officer at OpenText. "As an important step in the government's modernization journey, the solution extends the modern, cloud-optimized benefits of IT service management to federal agencies while adhering to ever-tightening and constantly changing security requirements." 

OpenText partner Carahsoft is a top government IT solutions provider, supporting public sector organizations across federal, state and local government agencies and the education and healthcare markets. Carahsoft is a distributor of ITMX and other OpenText products and services.

"The biggest challenge for government agencies to achieve their digital potential is security concerns," said Craig P. Abod, Carahsoft President. "With the FedRAMP fully authorized stamp, U.S. federal agencies can take advantage of the superior user experiences, advanced AI-based capabilities and industry-best cloud discovery offered by OpenText ITMX."

OpenText ITMX key capabilities include:

• Single intuitive self-service portal for IT Service Management, AI-driven support, and a mobile app for empowering users and reducing service desk costs.
• Codeless configurations, ITIL-certified processes, plus technology-agnostic workflow and process automation to boost IT productivity while reducing complexity.
• Powerful discovery of traditional IT assets and cloud services, change-risk analysis and IT asset and software license management to reduce risks and control costs.
• Investment and strategy alignment through a top-down and bottom-up analytics approach to application portfolio and project management.

In addition to ITMX, two other OpenText products, Fortify on Demand and OpenText Cloud for Government, have achieved FedRAMP authorization and are also available in the FedRAMP Marketplace.

• Fortify on Demand delivers comprehensive static, dynamic and open source application security testing across the modern software development lifecycle. Fortify allows agencies to perform automated software composition analysis to identify open-source components and other third-party software in an application, generate Software Bill of Materials and take control over the security of their software supply chain.
• OpenText Cloud for Government combines content capture, storage and document organization with archiving, records management and imaging on a FedRAMP-compliant platform. The OpenText Cloud for Government offering includes OpenText Content Management Platform and OpenText Process Automation, two core business applications within the OpenText Content Services information management portfolio.

More Information

• Read this quick overview about all of OpenText products currently authorized. 
• To learn more about OpenText FedRAMP offerings, visit the FedRAMP Marketplace.
• Find out about IT Service Management Automation at SMAX24.

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 © 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 OpenText IT Management Platform (ITMX) and what FedRAMP authorization did it receive?

The OpenText IT Management Platform (ITMX) is a comprehensive IT service management solution for government agencies. It received FedRAMP authorization, allowing U.S. federal agencies to use the platform confidently for delivering modern IT services, increasing productivity, and reducing risks and costs.

What components are included in OpenText's ITMX (OTEX) solution?

OpenText's ITMX (OTEX) solution includes Service Management Automation X (SMAX), Asset Management X (AMX), Universal Discovery and CMDB (UCMDB), and Project and Portfolio Management (PPM).

How can OpenText ITMX (OTEX) benefit government agencies?

OpenText ITMX (OTEX) can help government agencies reduce Tier 1 support costs, streamline IT service management, accelerate application delivery through AI and automation, and adhere to security requirements. It offers features like a single intuitive self-service portal, AI-driven support, and powerful discovery of IT assets.

Which OpenText (OTEX) partner is distributing ITMX to government agencies?

Carahsoft, a top government IT solutions provider, is partnering with OpenText (OTEX) to distribute ITMX and other OpenText products to public sector organizations, including federal, state, and local government agencies.