Home Trust Company Selects OpenText to Support Expansion and Increase Operational Efficiencies

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Aug 13, 2012, 09:15 ET

Leading Canadian Financial Institution Turns to OpenText for Managing its Digital Document Environment and Boosting Customer Experience

WATERLOO, ON, Aug. 13, 2012 /PRNewswire/ - OpenText™ (NASDAQ: OTEX, TSX: OTC) today announced that Home Trust Company, a wholly owned subsidiary of Home Capital Group Inc. (TSX: HCG) and one of Canada's largest federally regulated trust companies, has selected OpenText to support the company's future growth strategy and operational excellence and efficiency initiatives. By deploying OpenText's leading Enterprise Information Management (EIM) solutions, Home Trust will completely digitize the over five million documents it receives per year and streamline its internal loan application processes.

Home Trust will replace its current scanning and document management point solutions with a strategic platform based on OpenText Extended ECM for use with SAP® solutions and OpenText Capture Center. By deploying these solutions from OpenText, Home Trust plans to reduce administrative costs associated with manually filing paper documents and increase productivity by automating key processes, ensuring rapid and ready access to information assets. OpenText Extended ECM's integration with SAP solutions, a key factor in Home Trust's selection of OpenText, will help the company to expand its information management system as its business grows.

"OpenText's proven enterprise information management and Capture Center solutions will enable us to significantly improve our content management processes, speed our response times to customer inquiries, and support future initiatives based on its tight integration with SAP solutions," said Dinah Henderson, vice president of operations, Home Trust. "We are excited about this initiative and look forward to working with OpenText in implementing a completely digitized environment that will provide the ease and flexibility we require as our business expands."

OpenText Capture Center uses advanced document and character recognition capabilities to turn documents into machine-readable information. Capture Center will enable Home Trust to capture the data contained in scanned images and faxes, and interpret it using OCR, ICR, IDR, adaptive reading, and other technologies. By using OpenText Capture Center with the information management capabilities of OpenText Extended ECM for SAP solutions, Home Trust aims to reduce manual keying and paper handling, accelerate their business processing, improve data quality, and ultimately boost their customer experience.

OpenText Extended ECM extends the transactional process management capabilities of the SAP ERP application with comprehensive Enterprise Content Management (ECM) capabilities, including document and records management and collaboration. With OpenText Extended ECM, businesses can unite the worlds of ERP and ECM into a single solution, reducing the risks and costs of records mismanagement, increasing information worker productivity and enhancing the ability to comply with regulations. SAP also resells OpenText Extended ECM as the SAP Extended ECM application by OpenText.

These solutions are part of OpenText's Enterprise Content Management suite, a key pillar of OpenText's Enterprise Information Management (EIM) strategy, which includes information governance solutions designed to reduce legal, compliance and financial risks through a combination of records management, and archiving for all types of content. Information security solutions for ensuring confidentiality, privacy and access control as well as solutions that help manage the explosive growth of content organizations are faced with today are also included. Enterprise Content Management solutions work with all content types and provide organizations with better insight into how to best leverage their enterprise data and increase the overall impact on their business.

"Home Trust is a great example of how businesses in all sectors are leveraging OpenText's innovative EIM solutions to help them extract value from growing volumes of enterprise information and evolving business processes," said Greg Corgan, OpenText's executive vice president, worldwide field operations. "We are thrilled with Home Trust's decision to deploy our solutions and look forward to working with them every step of the way to help them succeed with their expanding business needs."

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About OpenText
OpenText is the largest independent software provider of Enterprise Information Management (EIM). For more information please visit www.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 © 2012 by Open Text Corporation. OPENTEXT, OPENTEXT EXTENDED ECM and OPENTEXT CAPTURE CENTER (OCC) are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.

SOURCE Open Text Corporation