Dexia Bank Realizes 437 Percent ROI Through Deployment of Open Text's Livelink, According to IDC Study
Open Text Affinity Partner, AsBuilt, to Present Livelink-based Collaboration Groupware Solution Utilized for Dexia Construction Project at LiveLinkUp 2001
Waterloo, ON - 2001-10-11 - Open Text Corporation (Nasdaq: OTEX, TSE: OTC), a worldwide leader in delivering collaborative commerce solutions, today announced the findings of a study conducted by IDC designed to measure return on investment realized by Dexia Bank's deployment of the Livelink® Open Text's platform for collaborative business solutions. IDC's evaluation of the Livelink implementation at Dexia Bank found a 437 percent return on investment (ROI).
One of Belgium's largest financial institutions, Dexia Bank, chose Open Text partner, AsBuilt, to provide the tools necessary to carry out a major renovation project at the bank s headquarters in Brussels. AsBuilt, in turn, chose to implement Livelink, Open Text's Web-based platform for collaboration.
Citing a 437 percent ROI, the study identifies significant qualitative benefits and quantitative gains as a result of using Livelink as the collaborative underpinning for the Dexia Project:
- Better contractor-management reduces overspending by an estimated 30 percent
- Fewer delays are expected to shorten the duration of the project by five to six months
- Lower administrative, document management and paper storage costs
- Improved change-management results in savings of close to 50 percent
"Construction is a notoriously fragmented industry that is fraught with delays resulting from a lack of communication," said Andrew Pery, Senior Vice President of Global Marketing, Open Text. "AsBuilt sought to reduce those costs by utilizing Livelink to improve information sharing. The efficiency of construction projects, like the one at Dexia Bank's headquarters, can be greatly improved by managing the complex working relationships between contractors, engineers, suppliers, architects, and others."
On November 7, Marc Ansoult, Manager of AsBuilt, will present the collaboration groupware solution implemented for the Dexia project at LiveLinkUp 2001, Open Text's upcoming user conference in Las Vegas, November 5-9. Focusing on collaboration as a tool for aggregating members of the construction industry, Marc Ansoult's presentation will also include a description of how AsBuilt is using Livelink to share resources, leverage content and reduce expenses during construction of the new Brussels airport terminal.
"Working together to provide enhanced solutions for the construction industry, AsBuilt and Open Text have developed a practical, customizable application for the construction sector," said Marc Ansoult, Manager, AsBuilt. "Built upon the functionality of Livelink, the construction groupware solution saves time and money by providing secure access to real-time project information, online information sharing capabilities, as well as auditing and tracking features."
"Together, AsBuilt and Open Text have delivered an impressive solution that is easy to use and entirely Web-based. We are ready to save vast amounts of time, resources and effort, as we have already begun to realize during the early stages of this large-scale renovation," said Robert Wolfs, Project Manager, Dexia Bank.
"The ROI study at Dexia offers a unique opportunity to evaluate the financial, operational and cultural impact that Livelink can make, in comparison with a similar project that does not make use of Livelink at all," said Andrew Adelson, a consultant for IDC. "The results, supported by an ROI of 437 percent, dramatically illustrate how Livelink-based solutions can significantly enhance the day-to-day operations of industry."
To view the ROI study conducted by IDC at Dexia Bank, please visit the following URL: http://www.opentext.com/dexia_roi/.
About Dexia Bank
With a market share of more than 15 percent in Europe, Dexia (CAC 40 and BEL20) is the leader in project and public finance and financial services for local governments. Through its subsidiaries and affiliates, it is active and recognized in almost all of the countries of the European Union as well as in the United States. Through its network, which counts a thousand branches in Belgium and Luxembourg, Dexia has a solid competitive position in retail banking and bancassurance in one of Europe's principal economic regions. Its network provides individual customers and small businesses with retail banking services through a marketing organization that is unique in Europe composed of independent financial advisors and gives Dexia a decisive competitive advantage. Due to its preeminent role in the Luxembourg financial market, Dexia is one of the major players in Europe in private banking and asset management. In particular, it is the European leader in the administration of investment funds, a sector which has reported exceptionally strong growth in the number of funds and the volume of assets under management.
About AsBuilt
AsBuilt delivers services to developers, owners or operators of complex infrastructures and to companies involved in their construction or maintenance. These services, founded on extensive practical experience gained during major construction projects at Brussels Airport and elsewhere, help clients manage their assets from the very beginning of the design phase up to hand-over and then throughout the life of the infrastructure. AsBuilt services include initial consultancy, pilot projects, groupware installation and implementation, reworking and developing procedures and CAD standards, software delivery (sale, lease or ASP models) and support. For more about how AsBuilt can help you, including short demos of their Construction Groupware modules, visit http://www.asbuilt.be
About Livelink
Livelink is a highly collaborative commerce and knowledge management application. Its richly-featured enterprise services include virtual team collaboration, business process automation, enterprise group scheduling and information retrieval services, all tightly integrated into a solution that is easily customized and extended. Livelink is essential to the effective management and development of communities of interest that span organizations and industries. For everything from the creation of complex e-community relationships to the automation of simple e-business processes, Livelink delivers true dynamic collaboration between individuals, organizations, and large trading communities. Livelink servers are fully Web-based and open-architected to ensure rapid deployment and easy access to its full functionality through a standard Web browser. For more information, visit www.opentext.com/livelink/.
About Open Text
Open Text provides collaborative commerce solutions for e-business that enable users to extend and build CRM, SCM and ERP applications and allow them to work together within and across organizations. Open Text has pioneered the development of innovative intranet, extranet and e-business applications. Since creating one of the first search engines to index the World Wide Web, the Company has remained at the forefront of Internet-based technologies. Its solution family called Livelink enables individuals, teams, organizations, and global trading communities to collaborate on e-business applications that facilitate e-commerce and other transactions among Global 2000 organizations. For more information, visit www.opentext.com.
Trademark
Copyright (C) 2001 by Open Text Corporation. Livelink and Open Text are trademarks or registered trademarks of Open Text Corporation. This list is not exhaustive. Other product and company names herein may be trademarks of their respective owners.
Release Disclaimer
This news release may contain forward-looking statements relating to the deployment of Livelink and Livelink Records Management by customers, and future performance of Open Text Corporation. Forward-looking statements are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the final prospectus for the Company's initial public offering of common stock in January 1996, Form 10-K for the years ended June 30, 1998, June 30, 1999, and June 30, 2000, and Form 10-Q for the quarters ended September 30, 2000, December 31, 2000 and March 31, 2001. Forward-looking statements are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.
For more information, please contact
Lisa Dekker
Public Relations
Open Text Corporation
519-888-7111 ext. 2473
519-888-0677
ldekker@opentext.com
