The CEO Blog
The CEO of OpenText, Mark Barrenechea, shares his insights and observations on enterprise information management and the latest technologies.
Every business is an information business and this is why digitization is a key corporate priority. Every enterprise exchanges massive amounts of information on a daily basis, both inside and outside of the firewall. Security has become a top priority for the CIO with the volume, variety, and velocity of the information exchange that occurs. Security risks are intensified by globalization, a reliance on email for business collaboration, BYOD and mobile access, growing regulatory pressures, bad actors, and cloud computing.
With more than 80 percent of enterprise data residing outside of structured ERP systems, much of this information is in transit outside the business firewall. In fact, there have been more than 600 million information breaches in the U.S. alone since 2005 (privacyrights.org) and one-third of these breaches were due to unintended disclosure, insider fraud, or the use of mobile devices.
Poor information exchange systems and practices lead to security threats at many levels: to employees; projects; competitive advantage; national security; reputation; brand, and in some cases, to the business itself.
In view of these challenges, IT departments have a mandate to transform reactive, unsecured, and uncontrolled information exchanges into safer, more flexible, managed, and compliant processes. CIOs need easy, integrated, and trusted solutions to support all of their business information exchanges— from vendor invoicing, payroll submissions, transfer of healthcare records, to securing corporate IP.
OpenText has responded to these customer needs with our Information Exchange Suite which is an integrated set of cloud-based messaging services that comprises Secure Email, Secure MFT (Managed File Transfer), Fax, EDI (Electronic Data Interchange) and Notifications.
Recent innovations to the newly released Information Exchange Suite include cloud-based secure messaging, large-file transfer acceleration, data leak prevention, real-time audit trail, and integration with desktop, mobile and other systems. Each service is designed to support the business requirement for exchanging information with anyone, anywhere, and in any format, while instilling confidence that the exchange of information is accessible, efficient, and trusted. Enterprises are empowered with the infrastructure for secure and reliable exchange of information to help improve operational performance, reduce risk, and enable enterprise agility.
Imagine the productivity gains and competitive edge your organization would realize if the exchange of information could be made faster, easier and more secure! I’m pleased to share these advancements with our customers, and more information is available here.
Next month, I look forward to providing an update on GXS.
- Tags: appworks, bpm, business process management, content suite, discovery, discovery suite, discovery technologies, ecm, eim, enteprise world, enterprise content management, enterprise information management, enterprise software, experience suite, information exchange, mark barrenechea, process suite, project red oxygen
- Categories: EIM, OpenText
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: Project Red Oxygen. 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.
Project Red Oxygen 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 experience with 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.
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. Project Red Oxygen will deliver a strong technology foundation for our customers to build on and establish EIM as the mission-critical solution to drive insight, innovation, and growth.
For more information, including a release schedule, read the press release.
(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
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.
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 the much-anticipated release of Project Red Oxygen, 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. Project Red Oxygen will enable CIOs to drive an agenda of innovation and growth to accelerate time-to-compete in the Information Economy.
For more details, read the press release: OpenText to Unveil Project Red Oxygen at Enterprise World 2013.
OpenText Enters Into Agreement to Acquire GXS.
- Tags: bpm, cem, clm, content lifecycle management, customer experience management, discovery, ecm, eim customers, enterprise content management, governance, information exchange, mark barrenechea, opentext, opentext ceo, process management, semantic search, smart process applications, web experience management, wem
- Categories: CEO Series
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.
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.
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.
Every CEO is looking to create a value strategy to maximize profitability in a constantly changing global economy, their organization’s market, and according to their particular constellation of assets and capabilities.
When we examine key value drivers in detail, we find that information is the common denominator that each driver shares. If we effectively manage the flow of information and processes across our organization, the incremental impact of these drivers on one another compounds organizational benefits and value. Let’s explore this further based on the following 5 value drivers:
- Customer Relationships
- Operating Margin
- Governance and Risk Management
Each of these value drivers is based on a complex flow of information. Significant enhancements to each can be realized through strategic Enterprise Information Management (EIM), giving the C-Suite greater control over their value strategy.
It’s important to understand and cultivate the impact that each of these drivers has on the others.
Customer relationships impact revenue, efficiency impacts margins, and governance influences efficiency, and so on. The interaction amongst drivers provides great opportunity. When we create flows that drive information and processes that pervade the organization with information, then we are in a position where every positive investment we make amplifies the benefit of every other.
The Five Key Value Drivers
Take customer relationships, for example. Customer satisfaction is an outcome that directly affects revenue. It’s influenced by the quality and nature of your brand, your product, your digital presence, your physical presence, and the people, processes, and assets your customers deal with. Most of these things are improved with information. A full-ecosystem EIM strategy that integrates both public-facing and internal-only systems maximizes your opportunities to innovate, understand, and improve this value cycle.
EIM gives you the ability to do more than overcome your information challenges. You can use it to create significant business value by directing the flow of information throughout your ecosystem – across your workforce, markets, customers, and partners. EIM delivers control and the capacity to create value by optimizing the power of information.
The next white paper in my series, entitled Focused on the Value—Enterprise Information Management Capability Drives Value, examines these five value drivers and how Enterprise Information Management is a fundamental part of a value strategy.
Read the white paper.
A year ago, we began a discussion of Enterprise Information Management. In that time the industry has recognized the need for a holistic enterprise information strategy, lead by a more strategic CIO. The strategic and competitive advantages of information excellence can hardly be overstated. We are seeing business recognize that the investments made to manage structured information need to be mirrored in their approach to unstructured information, and that an elegant bridge between the two is essential.
At OpenText we have begun to align our offerings, our work and our conversations around the strategic potential and strategic information needs of our customers. It is no longer enough to be compliant without being able to communicate. It is no longer enough to be able to create great marketing experiences, without information security and compliance, process management, collaboration, social business, discovery and exchange. As a result we continue to enhance our 5 information pillars, ECM, BPM, CEM, Discovery and Information Exchange toward a comprehensive Enterprise Information Strategy.
We were excited to read, and are proud to offer you, this report from Alan Weintraub of Forrester Research. The report resonates with what we’ve learned, and begins an important conversation about the future of information in the enterprise, the future of EIM. As Mr. Weintraub states “Information is the ultimate competitive advantage”.
Here at OpenText we are driving that conversation forward. We invite you to join a webinar on September 19 to hear more of Alan’s insights into EIM, and beyond that at Enterprise World 2013, where we are gathering your peers and other great IT and business minds together to carry the discussion even further, so that you can drive toward your ultimate competitive advantage.
- Tags: big data, eim, enterprise information management, gcdocs, government, government of canada, ict, mark barrenechea, open data, open data portal, open dialogue, open government license, open government partnership, open information, opentext, public sector, tony clement, treasury board
- Categories: EIM Technologies, OpenText
Last week, I had the distinct pleasure of sitting down with the Honourable Tony Clement, President of the Treasury Board of Canada, for a chat about the Government of Canada’s Open Data program and what it means for young entrepreneurs, economic development, Canadian constituents, and the future of open government.
The event – Big Data: The Natural Resource of the 21st Century – took place at OpenText Headquarters and was co-hosted by the University of Waterloo, Communitech, and the Canadian Digital Media Network (CDMN). The focus of the event was Canada's recently launched next generation Open Data Portal, www.data.gc.ca, which offers an aggregation of government data that can be downloaded for free by citizens, researchers, voluntary organizations, and the private sector.
The drive to open up access to information by the Government of Canada not only fulfills mandates for transparency, accuracy, and improved citizen services, it also promotes innovation by providing data to developers, entrepreneurs, and companies in the private sector.
During our discussion, Minister Clement gave audience members a guided tour of the portal, which includes new targeted search capabilities and Web 2.0 features, and houses popular datasets ranging from residency wait times and air quality to energy use.
Why is this important? With increased access to government data repositories, developers will be better equipped to create applications, advance the digital economy, and expand the boundaries of the possible. OpenText, as Canada's largest software company, is committed to advancing these important Canadian initiatives in our efforts to help organizations unleash the power of their information.
The interview was followed by a panel session, led by Communitech President and CEO Iain Klugman, to explore ways in which open data can fuel app development and modernize service delivery for Canadians.
Open Data Event Hosts, from left to right: Open Text Chair, Tom Jenkins; University of Waterloo President, Dr. Feridun Hamdullahpur; The Honourable Tony Clement, President of the Treasury Board of Canada, OpenText President and CEO, Mark J. Barrenechea; Communitech President and CEO, Iain Klugman
Read the Treasury Board press release about the event.
Kitchener-Waterloo Record coverage.
Stay tuned for full video coverage of the event.
- Tags: anti-fragile organization, ceo whitepaper series, content server, customer experience, ecm, enterprise content management, information flows, legal hold, mark barrenechea, opentext, opentext auto-classification, opentext content server, records management holds, social era, social media, value chain analysis, value chain mapping, value chain optimization
- Categories: CEO Series, EIM
Optimizing Value Chains with EIM
Every enterprise is an information enterprise. Whether you’re an organization that makes sneakers or sells securities, every transaction and project you undertake is driven by information. Information flows through each process in your organization and supports every value chain from beginning to end.
Value chains, introduced by Michael Porter in 1985, are the inherent building blocks that drive productivity in an organization.
Porter’s Value Chain
Value chain mapping is critical for identifying potential opportunities. It helps to identify touch points with customers, recognize pain points, and discover opportunities to improve processes. Once business functions are broken down into activities, each part of the value chain and how it creates value for the customer is made clear – insight that is crucial for creating exceptional and personalized brand experiences.
Since data lies at the heart of each value chain, a required follow-on activity to mapping is the analysis of the information flows that support a value chain.
As we move through each step of a value chain, new data and information are created and added to improve the end result. Incrementally, each step depends on data previously created. The higher the quality of that data, the more comprehensive and insightful it is. The easier it is to access and share, the better the outcome and the overall value of the process that drives the value chain. Any supporting IT investment in any process is only as good as the understanding of the existing value chains and their information flows.
New frameworks and solutions based on unstructured data lead to new information flows within a value chain. In trying to determine how your IT investments can help derive maximum value from your value chains, streamlining information flows should be a priority. From an IT perspective, this presents both a significant opportunity and a significant challenge. CIOs and their organizations have an unparalleled opportunity to address this challenge and drive value for the business. But they first must grasp how value gets created in the organization, how information flows, and then provide the tools, systems, policies, and governance structures that will support that flow.
When information flows are managed, controlled, connected, and optimized to surface the right information as needed, they ultimately drive your bottom line and your shareholder value. Enterprise Information Management (EIM) gives you the ability to connect the dots to optimize the information flows that underlie value chains.
As a suite, EIM builds information flows that move beyond simple tasks and helps to drive value as information flows through the enterprise. As each person, process, and deliverable creates and uses information, opportunities for efficiency and innovation arise. Information flows vary by company, but include Create to Consume, Objective to Outcome, Hire to Retire, Capture to Archive. There are many ways to leverage technologies to achieve the seamless flow of information within and beyond the corporate firewall.
EIM can transform your organization into a responsive enterprise with vast information resources that facilitate seamless flows to optimize your value chains by giving you the ability to understand your business, your customers, and market opportunities.
But how does the CIO leverage the principles behind EIM to catalog, organize, integrate, and streamline information flows? Read the latest white paper in my CEO series, Information Flows and The Journey – Optimizing Value Chains with EIM to find out.