Global
France
Germany
JapanNews
Open Text Adds Advanced Reporting and Analytics Capabilities to its Governance, Risk and Compliance Solutions
Latest Product Integration of Hummingbird’s Powerful Reporting Tools with Open Text’s Internal Controls Software Follows Open Text’s Acquisition of Hummingbird
LiveLinkUp 2006 Conference, Phoenix, Ariz., - 2006-11-15 - Open Text™ Corporation (NASDAQ: OTEX, TSX: OTC), the largest independent provider of Enterprise Content Management (ECM) software and solutions, today announced that it is enhancing its Internal Controls solution by integrating advanced reporting, dashboard and analytics capabilities acquired from Hummingbird. The expanded solution will help customers gain greater insight into their compliance programs for regulations such as the Sarbanes-Oxley Act and Basel II Capital Accord, among others.
Open Text is demonstrating the new integration this week at its LiveLinkUp 2006 global user conference in Phoenix, Arizona, and will begin to offer the new capabilities in early 2007. The integration is among the first Open Text is introducing to combine complementary ECM capabilities following its acquisition of Hummingbird. In addition to its Internal Controls solution, Open Text also said the query and reporting capabilities will be integrated with Open Text’s other compliance solutions.
“Because of commonality across compliance requirements, and the associated costs, organizations are turning from point solutions to a single platform to manage all of their Governance, Risk and Compliance initiatives. The integration of Open Text’s platform with the Hummingbird reporting technology enables us to provide immediate value to our customers, helping them to better measure compliance efforts, reduce risk, and increase accountability,” said Bill Forquer, Executive Vice President, Compliance Solutions Business at Open Text. “The fact that we are already demonstrating tangible benefits for our Internal Controls solution is a real testament to our ability to quickly integrate our offerings from the Hummingbird acquisition, which can result in increased value for our customers.”
Livelink ECM - Internal Controls offers a centralized, enterprise-wide system to manage internal controls information. With the addition of the advanced reporting and dashboard capabilities, Livelink ECM - Internal Controls customers will be able to evaluate data across the entire business process. The new capabilities will give executives access to data from multiple systems and organize and analyze the information easily, enabling organizations to detect patterns in financial statement data and help ensure accuracy of financial information. Users can proactively alert management to potential problems and deliver daily, real-time reporting to stakeholders. Executives gain an enterprise-wide view of risks, issues, and the effectiveness of compliance and governance efforts.
The Livelink ECM solution provides full reporting capabilities to address the needs of different users in the organization with a wide range of reports, formats, and delivery methods. The capabilities include end user ad hoc query and reporting, which allows users to pose questions about data and communicate the results in meaningful reports. Other key features include:
• The inclusion of standard reports
• Multi-dimensional reporting for more reliable results more efficiently
• Report upon Internal Controls metrics, information from other Open Text compliance solutions, and third party applications
• Scheduled reports that can be automatically saved to Livelink ECM or sent to Livelink ECM users via email
• Connections to third-party databases and applications for reporting on Key Performance Indicators (KPIs).
“Open Text is committed to helping our customers not just with specific compliance challenges such as SOX 404, but to help them implement a holistic and centralized approach to identifying, rating, and mitigating corporate risks,” added Forquer. “By offering stronger reporting and analytics capabilities, we empower our customers to extend their existing investment into a complete enterprise risk management program.”
For more information on Open Text Internal Controls, go to: http://www.opentext.com/2/sol-products/sol-pro-compliance-governance/pro-app-internal-controls-compliance.htm.
For more information on activities and announcements at LiveLinkUp 2006, visit the conference website at http://livelinkup-phoenix.opentext.com/.
Open Text is demonstrating the new integration this week at its LiveLinkUp 2006 global user conference in Phoenix, Arizona, and will begin to offer the new capabilities in early 2007. The integration is among the first Open Text is introducing to combine complementary ECM capabilities following its acquisition of Hummingbird. In addition to its Internal Controls solution, Open Text also said the query and reporting capabilities will be integrated with Open Text’s other compliance solutions.
“Because of commonality across compliance requirements, and the associated costs, organizations are turning from point solutions to a single platform to manage all of their Governance, Risk and Compliance initiatives. The integration of Open Text’s platform with the Hummingbird reporting technology enables us to provide immediate value to our customers, helping them to better measure compliance efforts, reduce risk, and increase accountability,” said Bill Forquer, Executive Vice President, Compliance Solutions Business at Open Text. “The fact that we are already demonstrating tangible benefits for our Internal Controls solution is a real testament to our ability to quickly integrate our offerings from the Hummingbird acquisition, which can result in increased value for our customers.”
Livelink ECM - Internal Controls offers a centralized, enterprise-wide system to manage internal controls information. With the addition of the advanced reporting and dashboard capabilities, Livelink ECM - Internal Controls customers will be able to evaluate data across the entire business process. The new capabilities will give executives access to data from multiple systems and organize and analyze the information easily, enabling organizations to detect patterns in financial statement data and help ensure accuracy of financial information. Users can proactively alert management to potential problems and deliver daily, real-time reporting to stakeholders. Executives gain an enterprise-wide view of risks, issues, and the effectiveness of compliance and governance efforts.
The Livelink ECM solution provides full reporting capabilities to address the needs of different users in the organization with a wide range of reports, formats, and delivery methods. The capabilities include end user ad hoc query and reporting, which allows users to pose questions about data and communicate the results in meaningful reports. Other key features include:
• The inclusion of standard reports
• Multi-dimensional reporting for more reliable results more efficiently
• Report upon Internal Controls metrics, information from other Open Text compliance solutions, and third party applications
• Scheduled reports that can be automatically saved to Livelink ECM or sent to Livelink ECM users via email
• Connections to third-party databases and applications for reporting on Key Performance Indicators (KPIs).
“Open Text is committed to helping our customers not just with specific compliance challenges such as SOX 404, but to help them implement a holistic and centralized approach to identifying, rating, and mitigating corporate risks,” added Forquer. “By offering stronger reporting and analytics capabilities, we empower our customers to extend their existing investment into a complete enterprise risk management program.”
For more information on Open Text Internal Controls, go to: http://www.opentext.com/2/sol-products/sol-pro-compliance-governance/pro-app-internal-controls-compliance.htm.
For more information on activities and announcements at LiveLinkUp 2006, visit the conference website at http://livelinkup-phoenix.opentext.com/.
About Open Text
Open Text™ is the world's largest independent provider of Enterprise Content Management software. The company's solutions manage information for all types of business, compliance and industry requirements in the world's largest companies, government agencies and professional service firms. Open Text supports approximately 46,000 customers and millions of users in 114 countries and 12 languages. For more information about Open Text, 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, 2006. 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 © 2006 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.
Copyright © 2006 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.
For more information, please contact
Margaret E. Dobbin
Director, Industry Analyst Relations
Open Text Corporation
+1-519-888-7111 ext.2410
mdobbin@opentext.com
Director, Industry Analyst Relations
Open Text Corporation
+1-519-888-7111 ext.2410
mdobbin@opentext.com
