New collaboration provides elevated service
offerings with financial protection to attract and retain clients
resulting in increased revenue streams
WATERLOO, ON, Oct. 21,
2024 /CNW/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX)
today announced a strategic partnership with Cork Inc., adding the
cyber warranty solutions to provide a holistic solution portfolio
tailored specifically for Small and Medium Businesses (SMBs) and
Managed Service Providers (MSPs). This alliance will empower MSPs
to offer a distinctive blend of award-winning cybersecurity
solutions and robust financial protection to enhance their customer
offerings. Ensuring that MSPs are equipped with the best tools and
services, this initiative will streamline the service delivery
process and boost customer confidence by integrating top-tier cyber
protection with financial safeguards, making it easier for
providers to meet the diverse needs of their clientele.
OpenText Cybersecurity's recent 2024 MSP/MSSP
Survey highlighted that comprehensive security and composable
on-demand security expertise is a primary reason that SMB customers
seek MSP services. The survey also noted that 63% of SMBs are
primarily focused on outsourcing their data security and cyber
warranty resources. With this still a number one priority for SMBs,
the Cork and OpenText partnership will answer this need and provide
a much-needed comprehensive approach that proactively prevents
attacks and provides financial protection if a breach occurs.
"Our partner-first culture is built around listening to the
needs of IT service providers, and the OpenText family of solutions
paired with the Cork Protection active insights platform delivers
on those requests." says Dan Candee,
CEO, Cork. "Now we have even higher accountability to our partners
and the clients we serve together."
MSPs can expect this partnership to provide:
- Increased Revenue Streams: Create new revenue
opportunities by offering Cork Protection cyber warranty as an
add-on service.
- Improved Client Retention: Strengthen client
relationships by providing comprehensive protection, reducing churn
and increasing customer lifetime value.
- Reduced Support Costs: Benefit from OpenText's automated
cybersecurity solutions and Cork's proactive risk management tools,
minimizing support tickets and allowing your team to focus on
higher-value tasks.
- Enhanced Business Value: Position your MSP as a trusted
advisor by offering a complete cybersecurity solution that
addresses both prevention and financial protection.
"OpenText's cloud-based solutions are powerful offerings for
businesses facing today's relentless cyber threats," said
Sandy Ono, Executive Vice President
and Chief Marketing Officer. "When paired with Cork Protection
cyber warranty, organizations can effectively protect themselves
against some of the serious financial impact of cyberattacks. This
comprehensive approach streamlines cybersecurity management,
enabling seamless deployment and oversight while optimizing IT
resources."
For Small and Medium Businesses, MSPs will now be able to
provide:
- Comprehensive Cybersecurity: Gain peace of mind with
OpenText's endpoint protection combined with Cork's innovative
cyber warranty. This layered approach proactively prevents attacks
and provides financial protection if a breach occurs.
- Reduced Financial Risk: Mitigate the impact of
cyberattacks with Cork Protection cyber warranty, covering
financial losses, legal expenses, and recovery costs.
- Increased Productivity: Benefit from OpenText's
cloud-based solutions that minimize disruptions, allowing employees
to remain productive while Cork's insights platform effectively
manages cyber risks.
- Simplified Cybersecurity Management: Streamline security
operations with integrated solutions that are easy to deploy and
manage, freeing up IT resources.
- Enhanced Trust and Reputation: Build customer trust with
a proactive approach to cybersecurity.
Together, Cork and OpenText Cybersecurity are committed to
equipping their clients with the robust solutions necessary to
navigate today's evolving cyber threats effectively.
For more information, visit our websites: OpenText
Cybersecurity's Webroot and Cork Protection.
About OpenText
OpenText™ is the leading Information
Management software and services company in the world. We help
organizations solve complex global problems with a comprehensive
suite of Business Clouds, Business AI, and Business
Technology. For more information about OpenText (NASDAQ/TSX:
OTEX), please visit us at www.opentext.com.
About Cork
Cork is a purpose-built cyber warranty
company for managed service providers (MSPs) serving small
businesses (SMBs) and the software solutions they manage. Its
purpose-built platform is driven by an AI-enhanced cyber risk
engine designed to offer MSPs and their clients peace of mind with
near-instant coverage and settlements in the aftermath of security
incidents. Cork's revolutionary Protection from the Inside Out™
approach to actionable insights, flexible premiums, and claims
management puts control in the hands of MSPs and SMBs to protect
the digital assets they value most. Cork is backed by DVx Ventures,
Outsiders Fund, and Vestigo Ventures. For more information, visit
corkinc.com and follow Cork on LinkedIn.
Connect with us:
OpenText CEO Mark Barrenechea's blog
Twitter | LinkedIn
Certain statements in this press release may contain words
considered forward-looking statements or information under
applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies, and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Readers are cautioned not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. Unless otherwise required by applicable
securities laws, OpenText disclaims any intention or obligations to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Further,
readers should note that we may announce information using our
website, press releases, securities law filings, public conference
calls, webcasts and the social media channels identified on the
Investors section of our website (https://investors.opentext.com).
Such social media channels may include the Company's or our CEO's
blog, Twitter account or LinkedIn account. The information posted
through such channels may be material. Accordingly, readers should
monitor such channels in addition to our other forms of
communication.
Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned
by OpenText. One or more patents may cover this product(s). For
more information, please
visit https://www.opentext.com/patents.
OTEX-G
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SOURCE Open Text Corporation