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., November 15, 2006 / - Open Text(TM) Corporation (NASDAQ:OTEX)(NASDAQ:TSX:)(NASDAQ: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:
o The inclusion of standard reports
o Multi-dimensional reporting for more reliable results more efficiently
o Report upon Internal Controls metrics, information from other Open
Text compliance solutions, and third party applications
o Scheduled reports that can be automatically saved to Livelink ECM or
sent to Livelink ECM users via email
o 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: 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(TM) 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.
Source: Open Text Corporation
CONTACT:
Richard Maganini,
Director, Corporate Communications,
Open Text Corporation,
(847) 267-9330 ext.4266,
rmaganin@opentext.com;
Brian Edwards,
McKenzie Worldwide,
(503) 577-4583,
briane@mckenzieworldwide.com
