SAP to Resell Open Text Vendor Invoice Management (VIM) and Invoice
Capture Center to Help Customers Optimize Cash Flow ORLANDO, Fla.
and WALLDORF, Germany, Nov. 18 /PRNewswire-FirstCall/ -- Open
Text(TM) Corporation (Nasdaq: OTEX; TSX: OTC), a global leader in
enterprise content management (ECM), and SAP AG (NYSE:SAP)
announced today that SAP will resell Open Text Vendor Invoice
Management (VIM) under the name the SAP(R) Invoice Management
application by Open Text. As part of this agreement, SAP will also
resell Open Text's document capture solution Invoice Capture
Center, from Open Text's recent acquisition of Captaris, under the
name optical character recognition (OCR) option for SAP Invoice
Management. Today's announcement builds on the reseller agreement
signed by the two companies last year and demonstrates continued
evidence of SAP's ecosystem strategy to deliver additional choice
and flexibility to customers looking to extend the value of their
SAP investments. The announcement was made at Open Text Content
World, being held Nov. 18-20 in Orlando, Florida. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050310/SFTH009LOGO-a)
Applications Optimize Entire Financial Supply Chain Processing
paper invoices, which requires substantial manual effort for data
entry to financial applications, represents a major challenge for
customers to manage the volume of invoices, ensure timely payment
and keep costs under control. Large corporations process millions
of invoices per year, of which usually more than 80 percent are
still paper-based. Although invoice exceptions represent a small
percentage of this volume, they account for the majority of
processing time. Available today, SAP Invoice Management will be
targeted to all industries and organizations interested in
increased control and efficiency of their invoice-to-pay cycle.
Organizations already using VIM, including many Fortune 1000
companies, experience significant benefits, such as dramatically
lower cost-per-invoice, improved on-time payment performance,
drastically improved ability to leverage cash discounts, automated
internal financial controls, reduced duplicate invoices and
payments, improved ratings by suppliers and, as a result, greater
leverage in negotiating beneficial terms and pricing. SAP Invoice
Management completes the portfolio of finance solutions for SAP's
enterprise resource planning (ERP) application, SAP(R) ERP,
enabling companies to optimize their entire financial supply chain.
The OCR option for SAP Invoice Management is scheduled to be
available in early 2009. The document-capture capabilities allow
organizations to convert paper invoices into electronic form so
they can be processed electronically at a lower cost. "Open Text
continues to demonstrate its importance as an SAP partner, adding
value with its proven experience in enhancing document processing
solutions," said Tom Roberts, global vice president, Global
Software and Technology Partners, SAP. "By working together and
expanding our reseller agreement to include invoice management, we
are able to assist customers in transforming their finance
functions in an efficient, more holistic manner." "Organizations
worldwide run critical business operations on SAP solutions," said
John Wilkerson, executive vice president of Global Sales, Services
and Support, Open Text. "Through our reseller agreement, we're
providing combined solutions that offer the kind of bottom-line
value that's essential in a tightening economy. We benefit from a
long history of experience working with SAP to deliver these
solutions, and look forward to continuing the success we've seen so
far in our work with SAP." 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 and outgoing invoices, orders, delivery notes, quality
certificates, human resources documents -- that originate from
customers' SAP applications. Open Text's applications for use with
SAP software 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
achieved SAP Certified Integration status. Because of the strategic
relationship between Open Text and SAP in regards to ECM, SAP also
resells Open Text products in this space. To learn more about SAP
Invoice Management by Open Text and Open Text's ECM applications
for use with SAP software such as the SAP(R) Archiving application
by Open Text and the SAP(R) Document Access application by Open
Text, please visit http://www.sap.com/solutions/solutionextensions.
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(TM) to help organizations
capture and preserve corporate memory, increase brand equity,
automate processes, mitigate risk, manage compliance and improve
competitiveness. For more information, visit
http://www.opentext.com/. 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 (C) 2008 by Open Text Corporation. LIVELINK ECM and OPEN
TEXT are trademarks or registered trademarks of Open Text
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