Open Text Selected by Citrix Systems to Optimize Accounts Payable Processes
Trusted Partnership with SAP, Leadership in Accounts Payable Solutions Were Key Factors
Chicago, IL - 2008-08-11 - Open Text (NASDAQ: OTEX, TSX: OTC), a global leader in enterprise content management (ECM), today announced that Citrix Systems, Inc., the global leader and the most trusted name in application delivery infrastructure, has selected Open Text as the solution provider to help Citrix manage content from Accounts Payable (AP) and reduce invoice processing costs.
More than 215,000 organizations worldwide rely on Citrix solutions, including all Fortune 100 companies, and hundreds of thousands of small businesses. With thousands of transactions to manage and a need for more control and efficiency in AP processes, Citrix sought a solution that would optimize AP workflow to improve overall speed, control and visibility of its operations as well as extract additional value from its investment in SAP® solutions.
The solution is designed to accurately and quickly resolve AP issues, such as duplicate payments, lost discounts and ineffective collaboration by providing complete process control from invoice receipt to payment. With a well functioning AP process that includes advanced, pre-built and best-practice SAP workflows, Citrix could significantly improve its vendor relationships. The teams from Open Text and SAP represent a reliable, trusted partnership of software experts fully equipped to serve Citrix, as they do globally for thousands of joint customers with an AP optimization project.
The key factor in selecting Open Text s solutions was ease of integration with our existing SAP solutions-based environment, said Jeffrey Ahern, Senior Accounting Manager, Citrix Systems. No other solution providers were better positioned than the Open Text and SAP teams to support Citrix Systems with our AP project. They brought the right combination of technology and expertise.
AP is about getting the bills paid, yet, generating invoices and collecting payments has traditionally been a labor-intensive process. Paper invoices and related documents result in money and time wasted on filing, retrieving, copying, mailing or searching for misplaced, misfiled paper, said Patrick Barnert, Vice President, SAP Solutions Group at Open Text. Without an effective process solution it is virtually impossible to generate metrics that reduce costs and improve compliance. Our AP solutions offer powerful capabilities that streamline and automate the invoice handling process, and thus eliminate issues that drive up costs linked to each AP transaction.
Open Text is recognized globally for ECM solutions that help companies improve their accounts payable operations. In April, 2008, an imaging and workflow automation study released by PayStream Advisors, a specialized consulting and research firm, concluded that Open Text has emerged as a clear market leader with its AP solutions for use with applications from both SAP and Oracle.
Open Text Solutions for Use With SAP Applications
Open Text is an industry leader in ECM solutions for use with SAP solutions, leveraging two decades of partnership and co-development, and expertise gained from delivering solutions to more than 2,700 SAP customer sites around the world. Open Text s well-established products offer a complete range of capabilities for managing and archiving business documents incoming/outgoing invoices, orders, delivery notes, quality certificates, human resources documents that originate from customers SAP applications. Open Text s solutions for use with SAP applications help customers improve efficiency in key processes, manage compliance, consolidate IT systems and reduce costs. Open Text is an SAP software solution partner with products that have certified integrations with SAP applications. Open Text is also the only ECM vendor with solutions that are resold by SAP.
For more information on Open Text AP solutions go to: http://www.opentext.com/2/sol-business/sol-bus-finance/sol-bus-finance-accounts-payable.htm
About Open Text
Open Text, an enterprise software company and leader in enterprise content management, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 46,000 customers and millions of users in 114 countries. Working with our customers and partners, we bring together leading Content Experts to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This news release may contain forward-looking statements relating to the success of any of the Company s strategic initiatives, the Company s growth and profitability prospects, the benefits of the Company s products to be realized by customers, the Company s position in the market and future opportunities therein, the deployment of Livelink and our other products by customers, and future performance of Open Text Corporation. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. The risks and uncertainties that may affect forward-looking statements include, among others, the failure to develop new products, risks involved in fluctuations in currency exchange rates, delays in purchasing decisions of customers, 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, demand for the Company's products and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Form 10-K for the year ended June 30, 2007 You should not place undue reliance upon any such forward-looking statements, which 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.
Copyright © 2008 by Open Text Corporation. LIVELINK ECM 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. 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.
For more information, please contact
Richard Maganini
Open Text Corporation
+1-847-267-9330 ext.4266
rmaganin@opentext.com
Stephanie Dodge Fazio
Open Text Corporation
519-888-7111, x2429
sdodge@opentext.com
Brian Edwards
McKenzie Worldwide
+1-503-577-4583
briane@mckenzieworldwide.com