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The company, through the acquisition of market-leaders GXS and EasyLink, offers a comprehensive suite of B2B managed services solutions that address the global complexities of corporate-to-bank integration. The solution is focused on handling the complexities related to connecting multiple banks and other trading partners in order to conduct business electronically. Once connected to the OpenText cloud—a pre-connected community of over 600,000 buyers, sellers, banks, logistics providers and other supply chain stakeholders— customers can rapidly and securely reach banks and other trading partners through a single connection. By consolidating bank and trading partner integration from multiple point solutions to one platform, corporations streamline communication processes and gain visibility into transactions, enabling more rapid and informed decision making on opportunities and risks.
Corporations across industries face the daunting task of keeping pace with different protocols and file formats utilized by their banking partners. Often, when a company ventures into new markets, they struggle to meet local trading partner integration requirements and country mandates for data security and sovereignty.
The benefits are numerous and powerful. OpenText delivers on average a 4x improvement in client implementation time and a 6x increase in support of file format options—resulting in faster revenue. For its banking customers, they see a 10-20 percent improvement in win rate while driving down annual costs of maintaining an integration program by 20-40 percent. In one instance, OpenText helped to reduce the customer-boarding time for a prominent banking organization. The bank was able to expand their supported communication protocols and improve the ability to fulfill customer requirements in countries it did not previously support. Additional OpenText solution components for community management and data transformation allowed the customer to meet local demands of its clients and support an integrated payables file, without re-engineering any internal system.
OpenText is ahead of the growing demand for big data analytics, having acquired Actuate Corporation, a publicly traded analytics and business intelligence software company based in San Mateo, California. The synergy of these offerings helps deliver actionable intelligence based on KPIs for the customer, as well as its entire trading partner community. OpenText also invests generously in organic innovation, currently focused on enhanced mobility, user experience and adding more predictive and what-if scenario dashboards. OpenText plans continued expansion of its financial services and corporate treasury services, driven by the increasing cost for companies to comply with regulatory and security mandates.