CEO Blog

The CEO of OpenText, Mark Barrenechea, shares his insights and observations on enterprise information management and the latest technologies.

Driving Innovation & Growth

The growth of unstructured information inside the enterprise is staggering. In fact, experts estimate that over 80 percent of data in organizations is unstructured and is growing at a rate of over 36 percent year-over-year(1). Managing this information across different formats, devices, and applications is a challenge for organizations that’s not going away. There is profound value in this unstructured information. In fact, your company’s future depends on it. How is the enterprise dealing with all of these new data types? Well, according to Forrester, they’re not. In a survey conducted in May of 2013, only 13 percent of the respondents had a formal information management strategy in place (2), which is why we’ve spent the last year focusing our efforts on our biggest synchronized software release to date. Announced at Enterprise World, this finely choreographed release features software advancements across our Enterprise Information Management (EIM) suite designed to help organizations manage huge amounts of data and unlock the untapped value of their information to create competitive advantage. Our latest release features over 300 integration points and stronger synchronization across five suites of software: Content Suite, Process Suite, Experience Suite, Information Exchange Suite, and Discovery Suite. The OpenText Vision: A Holistic View of EIM Let me touch on some of the highlights, suite by suite: Content Suite: will reduce costs through security features, information governance, and content lifecycle management. Innovations include an easier to use interface, APIs, reports, report writer, and Archive in the Cloud. Process Suite: automate processes to improve performance with new Smart Process Apps, including Case Management, Case Intelligence, and flexible deployment on premise or in the Cloud. Experience Suite: create the best possible consistent experiencewith every interaction through enhancements like omni-channel publishing and adaptive media, web and social analytics, ecommerce connectors, and our new HTML5 user experience. Information Exchange Suite: build trust and reliability, and reduce risk with the secure exchange of information from any user on any device to any destination. Innovations include advanced messaging services layer for fax, notification and EDI services, real time audit trails, and data loss prevention capabilities. Discovery Suite: empower people to find, understand, and leverage enterprise information for greater insight and better decision making with solutions for auto-classification, content migration, content analytics, semantic search, eDiscovery – and a CIO dashboard. With our latest release, we’re also introducing AppWorks, common RESTful services, and an EIM developer platform that accelerates the speed of development and introduces opportunities for innovation to our customers and partners. With AppWorks, developers can begin to write code using our suites within hours as opposed to weeks, using standard languages such as Java, JavaScript, and HTML5. The EIM suites outlined above are integrated through AppWorks to leverage the value of combined suites into a comprehensive EIM platform. Support for Sophisticated Information Flows AppWorks builds our holistic EIM strategy by supporting complete and integrated information flows to maximize the value of information across the enterprise. EIM is the next generation of enterprise software. Our latest release delivers a strong technology foundation for our customers to build on and establishes EIM as the mission-critical solution to drive insight, innovation, and growth. (1) Ray Paquet, “Technology Trends You Can’t Afford to Ignore”, Gartner Inc., http://www.gartner.com/it/content/1503500/1503515/january_19_tech_trends_you_cant_afford_to_ignore_rpaquet.pdf (accessed 10 Nov. 2012). (2) Alan Weintrub, “The Enterprise Information Management Barbell Strengthens Your Information Value.” ©2013, Forrester Research, Inc: July 15, 2003

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OpenText in the Spotlight: TSX and Innovation

On Thursday, October 31, I joined Ungad Chadda, Senior Vice President of the Toronto Stock Exchange, in the heart of Toronto’s Financial District to open the market in celebration of 15 years as a TSX-listed company. On hand were a number of my OpenText colleagues including: our Chairman of the Board, Tom Jenkins; Chief Financial Officer, Paul McFeeters; Chief Legal Officer, Gordan Davies; and Board members Steve Sadler and Mike Slaunwhite. ‘; if (cc_cookie == ‘yes’ || cc_ineu == ‘no’ || cc.approved[‘advertising’] == ‘yes’) { $(selector).append(html); } else {var noCookieDomain = ”; noCookieDomain = ‘www.youtube-nocookie.com’; if (noCookieDomain == ”) {var altHtml = ”; altHtml = $(‘ ‘).addClass(‘notice euCookieMessage’).html(‘This page element sets advertising cookies. Change your cookie settings to allow cookies and show this content.’); if (altHtml != ”) { $(selector).append(altHtml); } } else { html = html.replace(/(]+src=”(?:https?:)?\/\/)[^\/]+(\/)/ig, ‘$1’ + noCookieDomain + ‘$2’); $(selector).append(html); } } $(selector).replaceWith($(selector).html());} euCookieProtect_8c2ccab19acc41b8b49c731b455c3543(); }); }); OpenText began trading on the Toronto Stock Exchange on June 26, 1998. As the leading provider of Enterprise Information Management (EIM), we have come a long way since 1998. Today our global footprint spans six continents with 60 offices worldwide and we are now ranked as the largest software vendor in Canada. In 1998, our annual revenues were roughly $45.3M and we completed last year at $1.3 billion in revenues. We lead with value. We invest for growth. We call this strategy Intelligent Growth. Our future never looked brighter. Our BPM business was strengthened by our Cordys acquisition. Our IX business will grow stronger with GXS. Our overall EIM strategy will grow stronger with our much-anticipated software release, which will be unveiled during my keynote address at our upcoming Enterprise World user conference. This release features big new functional blocks, deeper integration, and the ability to streamline information flows across functional departments of the enterprise. The software release will enable CIOs to drive an agenda of innovation and growth to accelerate time-to-compete in the Information Economy. For more details about GXS, read the press release: OpenText Enters Into Agreement to Acquire GXS.

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EIM Success Stories: Turning Information into Innovation

A major natural gas company is experiencing a higher level of internal control over its procure-to-pay process and an 85 percent success rate for vendor compliance of invoice requirements, enabling them to comply with the Sarbanes-Oxley Act. One of the largest financial services institutions in the U.K. has reduced their cash transfer time from 21 to 15 days, secured a 25% share of the ISA market, and eliminated 8 million pieces of paper for savings on associated IT and infrastructure costs. A municipality released a new website that has become the Number 1 information source for its citizens, delivering an enhanced visitor experience and giving constituents immediate access to accurate, real-time information and the services they need. A leading research institution has increased the quality and output of its research by giving students and researchers improved, remote access to modeling applications and visualizations tools with three dimensional representations of large datasets. A national newspaper is delivering rich, relevant, and contextualized content experiences on its website for improved customer satisfaction and higher revenues based on increased click-through rates. What do all these organizations have in common? They have all turned their information into innovation using Enterprise Information Management (EIM). EIM: Using Social Media to Support Multilingual Dialogue As the set of technologies and practices that maximize the value of information while minimizing its risks, EIM provides control for the information enterprise, creating the opportunity for unlimited growth and responsiveness. It builds information confidence through security, insight, governance, and agile processes from a set of comprehensive capabilities that lay clear the path to innovation and growth. As a suite, EIM assembles information flows and expands them beyond single tasks to help drive value as information moves through the enterprise. At every touch or click or process, opportunities for efficiency and innovation are created. I invite you read the next installment in my white paper series, EIM Customer Case Studies: Turning Information into Innovation. This paper paints a portrait of the information enterprise through a collection of stories about organizations that have embraced EIM to address the challenges of their information and capitalize on its potential. Read the white paper.

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OpenText Honored as One of Canada’s Top 100 Employers

What makes great software companies great? Great software. And who makes great software? Great people. At OpenText, our employees are our greatest strategic assets. Every day, our talented staff works to create innovative solutions that have the power to redefine the way companies do business and reshape the collective future. It is with great pride that I announce OpenText has been named one of Canada’s Top 100 Employers for 2014. OpenText is honored to be the recipient of this distinguished recognition. The award was based on a process that narrowed down 75,000 employers across Canada to just 100. Selection was based on an assessment of many aspects of the OpenText work environment, including physical workspace, benefits and vacation programs, employee communications, career development, diversity, and community involvement. We believe in creating a unique, inspiring, and dynamic work environment—one that is conducive to fostering innovation, creativity, and thinking “outside-the-box.” To this end, we focus our investments on recruiting and retaining top talent within our industry. I’m proud of our employees and I’m confident that OpenText will continue to be a desirable workplace where people feel empowered to thrive, learn, and grow their careers. We look forward to continuing our role as a global software company, Canada’s largest software company, and a leading Canadian employer for many years to come. For the full story, read the press release. Globe and Mail feature. Full listing of Canada’s Top 100 Employers.

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Momentum Building for Canada’s Open Data Initiative

The momentum behind Open Data is growing and going national! President of the Treasury Board of Canada, Tony Clement, whom I interviewed on the Open Data initiative at OpenText’s headquarters location in September, today announced an exciting initiative to advance Open Data using our best resources – the innovative minds of young Canadians (Treasury Board Press Release). A new program called the Canadian Open Data Experience (CODE) will challenge students, technology innovators, developers and Open Data enthusiasts from all across Canada to turn valuable government data into useful and usable apps and information. This is such an important initiative, because it provides an opportunity to innovate using government data sets that were formerly unavailable, and to potentially develop applications of benefit to society at large. Minister Clement’s CODE initiative will feature an appathon, a forum for innovation and entrepreneurship, that can stretch the boundaries of Open Data and enable technologists to ‘get their hands dirty’ sharing ideas, inventing, researching the market, and starting the process for commercializing ideas. It’s what happens within companies like OpenText every day, pushing the boundaries of imagination and innovation, fueled by the availability of valuable data. Also, I hosted with Ambassador Mackenzie Clugston the first Japan – Canada ICT forum this week in Japan, focusing on Big Data, Cybersecurity, and Open Government. At OpenText, our raison d’être is to help enterprises and organizations globally gain the most value from their information. Combining corporate data with government data sets can open up new opportunities, delivering commercial value more quickly and providing more meaningful solutions for customers. I commend the work underway in Canada to unleash the power of innovation and fuel apps using untapped government data to turn the natural resource of information into something of value for Canadians. As a global business and Canada’s largest software company, OpenText supports these efforts. We look forward to the impact of this growing Open Data momentum that was shared at the event I hosted – Big Data: The Natural Resource of the 21st Century (read the Treasury Board press release). We look forward to seeing great things emerge from CODE and the Open Data Appathon to advance both the discussion and the deliverables enabled by Open Data.

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