OpenText Named a Leader in IDC MarketScape for Multi-Enterprise Supply Chain Commerce Network for Second Consecutive Report

Rhea-AI Summary

OpenText has been recognized as a Leader in the IDC MarketScape: Worldwide Multi-Enterprise Supply Chain Commerce Network (MESCCN) 2021 Vendor Assessment for the second consecutive time. The report highlights OpenText's extensive capabilities in managing global supply chains, backed by its community of over 1 million connected companies processing 26 billion transactions annually. The strategic partnership with SAP and a robust integration platform solidify OpenText's position, emphasizing the importance of cloud-based solutions for modern supply chain challenges.

Positive

• Recognized as a Leader in the IDC MarketScape for MESCCN for the second consecutive year.
• Over 1 million companies connected, processing 26 billion transactions worth $9 trillion annually.
• Strong strategic partnership with SAP enhancing managed services.

Negative

• None.

OpenText recognized as a proven solution that manufacturers and retailers depend on

WATERLOO, ON, Oct. 20, 2021 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today announced it has been named a Leader in the IDC MarketScape: Worldwide Multi-Enterprise Supply Chain Commerce Network (MESCCN) 2021 Vendor Assessment for the second time. The IDC MarketScape for MESCCN report evaluates multi-enterprise supply chain vendors success based on capability and business strategy.

According to the IDC MarketScape report, "As a proven vendor in the SCCN space, OpenText succeeds because of its scale, expertise, global reach, and focus on investment and growth. Manufacturers and retailers that depend on a proven solution and business partner to power their global supply chains and ensure business continuity select OpenText."

"Recent years have emphasized how critically important multi-enterprise supply chain commerce networks are to both the current and future supply chain," said Simon Ellis, program vice president at IDC. "OpenText Business Network combines managed services and cloud-based supply chain applications to facilitate efficient, secure, and compliant collaboration between people, systems, and things – providing a true foundation for establishing a future-proof digital backbone to support business growth and transformation initiatives."

The report specifically notes the following about OpenText:

• Largest connected community with global scale and reach — over 1 million companies connected to its network that collectively process over 26 billion transactions per year, with a combined value of $9 trillion in commerce per year
• Integration depth and breadth, from adapters and native support for SAP to one-to-one application mapping, a library of more than 5,000 canonical maps, API-based and web services integration, and much more
• Over 200 API connectors for integration to internal business systems such as ERP, CRM, HCM, TMS, and WMS
• Strategic partnership with SAP — Endorsed Business Solution (EBS) for managed services
• Breadth of trading partner enablers, including intelligent capture to convert fax and emails into EDI/XML and embedded into Microsoft Office Excel
• Self-service capabilities to ensure customers have flexibility and control over their SCCN services and trading partner information
• Unique OpenText Identity and Access Management information security and collaboration

"The recent, and increasingly frequent, global supply chain disruptions have accelerated the need for companies to invest in integrated, cloud-based supply chain networks that provide greater flexibility in how companies manage operations," said Lou Blatt, Senior Vice President and Chief Marketing Officer at OpenText. "OpenText's Trading Grid environment delivers a unified integration platform that allows companies to digitize information flows across the internal and external business ecosystems."

"We needed to improve our EDI platform and supply chain network to more easily receive and transmit information with domestic and overseas trading partners, as well as minimize the need for manual intervention," said Eric Nelson, IT Director of Business Systems at Cree Lighting. "OpenText provides us with managed services from a trusted partner, so we can focus internal expertise on accelerating business automation, optimizing our resources, and reducing costs."

OpenText Business Network provides a cloud-based integration platform that helps manage the full data lifecycle, from information capture and exchange to integration and governance. Business Network solutions establish the necessary digital backbone for streamlined connectivity, secure collaboration and real-time business intelligence across an expanding network of internal systems, cloud applications, trading partner systems and connected devices.

Click here to download a complimentary excerpt copy of the report.

IDC, IDC MarketScape: Worldwide Multi-Enterprise Supply Chain Commerce Network (MESCCN) 2021 Vendor Assessment (doc # US48202217 , September 2021)

About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

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 © 2021 OpenText. All rights reserved. OpenText is a trademark or registered trademark of OpenText. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of OpenText or other respective owners.

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SOURCE Open Text Corporation

FAQ

What recognition did OpenText receive in October 2021?

OpenText was named a Leader in the IDC MarketScape: Worldwide Multi-Enterprise Supply Chain Commerce Network (MESCCN) 2021 Vendor Assessment.

What are the key strengths of OpenText mentioned in the IDC report?

Key strengths include a large connected community, extensive integration capabilities, and a strategic partnership with SAP.

How many transactions does OpenText process annually?

OpenText processes over 26 billion transactions annually, with a combined value of $9 trillion.

Why is cloud-based supply chain management important according to OpenText?

Cloud-based supply chain management provides flexibility and efficiency, essential for managing operations amidst global supply chain disruptions.

What is the stock symbol for OpenText?

The stock symbol for OpenText is OTEX.