Abbey Chooses Livelink ECM Solution from Open Text
UK Financial Giant Moves Information Online for Compliance, Customer Service Needs
Chicago, IL. - 2005-06-14 - Open Text Corporation (NASDAQ: OTEX, TSX: OTC), the world s largest provider of Enterprise Content Management (ECM) software, today announced that it has delivered a Web content management solution to manage 100,000 pages of financial giant Abbey s product policies and procedures information online. In just three months, multiple sites were amalgamated to the Open Text solution to help meet compliance standards and improve customer service.
Abbey s 25,000 employees now have instant access to its Bookstore via the company s intranet. The Bookstore is a database of product policies and procedures that are critical not only to the day-to-day running of the company, but also to ensuring regulatory compliance. This is particularly important to Abbey as corporate governance codes specify that it cannot sell financial products, such as mortgages, unless the very latest information about the products is made available to the customer. The migration of the Bookstore s complex paper documents was achieved in three months and also included consolidating eight disparate departmental Intranets into one centralized system.
The project was part of Abbey s drive to move from a hard-copy culture to an environment where all its product and procedural data is available on a single, Web-based consolidated network. The solution utilizes Open Text s technology, including its Web Content Management capabilities, to simplify content management and enable in-house content authoring.
The new, fully automated system includes an audit trail facility that allows Abbey staff to access product specifications from up to five years ago. Staff can instantly check and verify the exact details of a policy or mortgage on the date it was purchased.
Peter Greenfield, Online Channels Manager at Abbey, said: The key strength of the Open Text content management tool is that it allows staff to manage policy and procedures by recording the lifecycle of every piece of information that is raised on an easy to use and intuitive system.
He added: We have given the internal Intranet the same look and feel as the Abbey corporate and customer-facing Internet pages so to the user navigating the system, it is like surfing the Net. Open Text has enabled us to have a single, coherent information system that serves both as a communications tool and real-time reference library, adhering to the necessary regulatory requirements.
John Kirkham, Executive Vice President of Global Sales at Open Text, said: This project underlines Abbey s status as a leading innovator in hi-tech banking and reputation in setting high IT standards in the financial industry. Thousands of pages of text are now available online, enabling instant updating of mission critical information and giving staff the most positive online experience possible which translates directly to increased customer satisfaction.
About Open Text
Open Text is the market leader in providing Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Today, the company supports almost 20 million seats across 13,000 deployments in 114 countries and 12 languages worldwide. For more information on Open Text, go to: www.opentext.com
Copyright © 2005 by Open Text Corporation. LIVELINK and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or 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.
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Margaret E. Dobbin
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Open Text Corporation
Open Text Corporation