OpenText Extends Leadership in Global Digital Commerce with Business Network Cloud

New release provides power of the world's largest supplier network to customers of all sizes, connecting them to global trading partners through new self-service capabilities

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Open Text Corporation

Nov 10, 2021, 09:00 ET

WATERLOO, ON, Nov. 10, 2021 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) is adding new capabilities to the market-leading OpenText™ Business Network Cloud as part of the Cloud Editions (CE) 21.4 launch at OpenText World.

The Business Network Cloud empowers companies to digitize their supply chain. Companies connect once and are integrated into the largest trading partner network in the world, with more than one million trading partners available through the unified Trading Grid platform. Recognized recently as a Leader in the IDC Multi-Enterprise Supply Chain Collaboration Network, OpenText delivers a complete platform to connect people, systems, and things across the entire digital business ecosystem.

This includes market-leading out of the box integration with over 200 API connectors to internal business systems, the industry's only Identity and Access Management (IAM) capability specifically built for supply chains, an integrated IoT platform for shipment traceability and next generation e-invoicing to improve efficiency and meet diverse regulations around the world. When combined, these capabilities empower companies to digitize their supply chain operations, gaining significant transparency and flexibility.

"As supply chain challenges increase, global businesses need visibility into their supply chain operations, and the flexibility to change suppliers quickly," said Mark J. Barrenechea, CEO & CTO, OpenText. "The OpenText Business Network Cloud provides this insight and flexibility to the largest supply chains in the world, empowering them to anticipate and respond quickly to both opportunities and disruptions. With this release, we are bringing this unique capability to companies of all sizes."

The CE 21.4 release brings these capabilities to more customers than ever before, through new self-service functionalities and managed services that provide industry leading B2B integration capabilities and the ability to connect with trading partners anywhere in the world. In addition, there are new integrations with external vendors, an improved user experience and a solution to help global manufacturers automate invoices and compliance.

Enabling companies of all sizes to connect with global trading partners

CE 21.4 introduces a tiered approach to business integration so that companies of any size can effortlessly integrate with trading partners around the world through the Business Network Cloud.

With pre-packaged, self-service capabilities, this expanded offering enables companies to manage their own trading partner communities, while also providing best-in-class integration, analytics and compliance services in an easy-to-use format.

Leveraging a unified integration platform, any company can now join the network and access the same capabilities that much larger businesses have been using to react to supply chain disruption and take advantage of new opportunities.

Expanded compliance and shipment visibility

The capabilities in OpenText™ Active Applications have been expanded to provide greater invoice compliance and shipment visibility, and to integrate with more external vendors and data sources.

These updates are of particular importance to businesses looking to expand their operations globally, as Active Applications provides the end-to-end shipment visibility and global tax compliance necessary to enter new markets with confidence.

Improved User Experience

The redesigned user experience for the OpenText™ IoT Platform makes it easier to collect insights and manage IoT devices in business and developer operations. The upgraded interface provides a number of enhanced self-service developer capabilities, including accelerated device onboarding and the ability to create digital twin environments.

New Solutions for Manufacturers

The new OpenText™ Compliant e-Invoicing for Manufacturing automates invoicing for global manufacturers, empowering them to accelerate cash flow, reduce costs, speed supplier payments, and meet government mandates across 48 countries.

Attend OpenText World 2021 from November 16-18 to learn how industry leaders like L'Oréal and JCB are using the Business Network Cloud to digitize their supply chains. OpenText CEO & CTO Mark J. Barrenechea and Chief Product Officer Muhi Majzoub will also provide further details on Cloud Editions 21.4, as well as the roadmap for further innovations in the Business Network Cloud.

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.

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SOURCE Open Text Corporation