OpenText Showcases Latest eDiscovery Innovations at Legalweek New York 2022

Rhea-AI Summary

OpenText (NASDAQ: OTEX) announced new features for its Axcelerate platform during Legalweek New York 2022, aimed at enhancing legal discovery and compliance processes. Key innovations include RegEx Search Enrichment for personal data protection and improved chat review functionalities. These enhancements are designed to optimize efficiency and reduce costs in eDiscovery projects, with reported time savings of over 45%. The upcoming integration with Insight Predict will further streamline review timelines and promote better document relevance identification.

Positive

• Introduction of RegEx Search Enrichment for better personal data protection.
• Improved chat review features enhancing communication analysis.
• Reported time savings of over 45% for eDiscovery projects.

Negative

• None.

New capabilities connect distributed workforces with information that streamlines legal discovery and investigations, and supports data privacy compliance

WATERLOO, ON, March 8, 2022 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), a sponsor of Legalweek New York 2022 kicked off this year's program by showcasing advanced capabilities in its legal technology portfolio. The innovations, including OpenText™ Axcelerate™, empower modern work by simplifying eDiscovery, legal and regulatory investigations, and data privacy compliance review across a distributed enterprise.

"With today's growing cybersecurity risks and privacy regulations, many organizations and law firms are in need of a better way to support their distributed workforce," said Sandy Ono, Executive Vice President and CMO at OpenText. "From discovery to compliance, OpenText has a portfolio of information management offerings to simplify how companies proactively approach investigations and ensure quicker responses. The fact is non-legal experts in an organization are the ones that need to be equipped with foresight and easy ways to be compliant. With technology, this can be better automated to minimize risks and maximize efficiency."

New Innovations in Axcelerate™

OpenText™ Axcelerate™, which is part of the OpenText Content Cloud, enhances the eDiscovery and investigation process beginning-to-end with fully integrated capabilities from data collection and processing to analysis, classification, review and production. In recent Cloud Edition releases, Axcelerate™ introduced features to find and remediate sensitive data with improved efficiency and cost-savings. The latest innovations enhance these capabilities:

• Regular Expression (RegEx) Search Enrichment (or pattern search) to detect and protect personal and confidential information with auto-detection of PII, PCI and PHI, and pre-configured PII pattern recognition.
• Enhanced chat review functionality that offers better ways to review and understand business communications that go far beyond email threads, including intuitive display of chat conversations, ability to narrow chat volumes by date, and ability to preview chat attachments.

"Time and cost efficiency is always sitting at the core of an eDiscovery project," said Melina Efstathiou, Head of Litigation Technology, Eversheds Sutherland. "With its embedded analytics, machine learning and automation, OpenText Axcelerate™ has helped us reduce time and cost delays by more than 45 percent." 

Continued Innovation

In the near future, customers will benefit from the integration of OpenText™ Insight Predict with Axcelerate™. Insight Predict is a technology-assisted (TAR) review tool based on continuous active learning, which surfaces the most likely to be relevant documents for review, substantially shortening review timelines and associated costs. Insight Predict continuously learns what is important to the matter and becomes smarter as review progresses. Contextual diversity, a powerful integrated algorithm unique to Insight Predict, eliminates the risk of missing relevant documents by ensuring that no pockets of data are left unexplored.

Insight Predict recently introduced a new feature, best passage highlighting, that provides unprecedented TAR transparency and efficiency by highlighting the best passage in the document that the algorithm has identified as likely to be relevant.

OpenText provides the legal and compliance community with a diverse and broad range of solutions for enterprise-level eDiscovery, investigations support, high-efficiency managed document review, data collections and forensics, breach response analysis and reporting, Subject Rights Requests (SRR) reviews, including DSARs, and more.

Join us at Legalweek New York 2022, March 8-11.

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 © 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.

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SOURCE Open Text Corporation

FAQ

What new features did OpenText showcase for its Axcelerate platform at Legalweek New York 2022?

OpenText introduced RegEx Search Enrichment for personal data protection and enhanced chat review functionalities.

How much time can be saved with the new innovations in OpenText's Axcelerate?

The innovations in OpenText's Axcelerate have reportedly helped reduce time delays by more than 45 percent.

What is the significance of RegEx Search Enrichment for OpenText clients?

RegEx Search Enrichment allows for the auto-detection of personal and confidential information, improving compliance and data privacy.

Does OpenText plan future integrations with its Axcelerate platform?

Yes, OpenText plans to integrate Insight Predict with Axcelerate to enhance review processes.

What is OpenText's stock symbol?

OpenText is listed under the stock symbol OTEX.