Over 2.5 quintillion bytes of data are created each day. This pace will only continue to accelerate as automated cars, sensors, drones, and the Internet of Things (IoT) introduce new formats at a rapid-fire pace.
Clearly, we are in store for an information-infused future.
And as the information changes, so must the tools that manage and protect it.
If we look back a decade ago, when content management was considered state of the art, managing documents was straightforward. Fast forward to today where the combination of extreme automation, connectivity and computing power are enabling an enterprise that is more connected and intelligent. More complex requirements have driven the need for Enterprise Information Management (EIM).
In an information-infused future, the Intelligent and Connected Enterprise will have to have the technologies in place to help it scale and differentiate to compete. At Enterprise World 2018 in July, I shared the following image to illustrate how our comprehensive, world-class EIM portfolio delivers innovation to help the Intelligent and Connected Enterprise successfully navigate the information-infused future. I am extremely proud of our product innovation and would like to elaborate on a few of these, including: Lifecycle and Records Management, eDiscovery, Compliance, Artificial Intelligent (AI), Blockchain, and Low-code, Cloud and Collaborative platforms.
EIM Meets the Challenge of an Information-infused Future
Compliance begins with EIM. EIM is one of the most important tools for meeting compliance goals and should be central to your data protection strategy.
Safeguarding personal data is not only critical, there are also various legal and regulatory challenges surrounding the issue of data privacy. Organizations are subject to industry-specific regulations as well as regional or national regulations like GDPR, HIPAA and PII. Effective this year, the GDPR imposed stringent requirements about how companies store and handle the personal data of EU citizens, inciting the biggest overhaul of the world’s privacy rules in more than 20 years. And it is coming to North America. It will make records management and auto classification even more important and an EIM platform will be crucial.
The secure management of records is a challenge every company encounters. Records Management provides a structured, organized and transparent system to maintain records and manage the lifecycle of content–from creation to eventual disposition. Both Records Management and Information Lifecycle Management work together to reduce litigation risk, eDiscovery and storage costs, and help organizations comply with regulations.
Like Records Management, eDiscovery is an essential component of EIM. Discovery reduces the time of finding information, litigation costs and the time of trial. At Enterprise World 2018, we demonstrated how effectively we have combined our best-of-breed EIM solutions with forensic security, eDiscovery collection and endpoint security technologies to bring order to information chaos. Imagine being able to reduce 10 million case documents to 100 pages through electronic review with AI capture and metadata. That is what our system is capable of and its ability to handle machine-generated data will only make it more relevant.
As a key component in our EIM portfolio, our AI and analytics platform, OpenText Magellan, supports out-of-the-box integration and new business-user enabled interfaces. Magellan helps maximize an organization’s insights into its information lakes, automating decisions based on actionable insights and transforming our relationships with machines into much more collaborative ones.
We will continue to partner with organizations to explore how global supply chains can leverage emerging technologies like blockchain and the IoT. A combination of the two will equip the Intelligent and Connected Enterprise with globally distributed ledgers to authenticate identities and secure interactions all along the supply chain. In the information-infused future, applications for B2B networks will allow for more autonomous engagement and secure transactions.
Business is moving to the Cloud and we are moving our customers with it. I was pleased to announce both OpenText OT2 and OpenText Prime at Enterprise World. OT2 is our flexible, Software-as-a-Service (SaaS) platform for EIM services and application development. OpenText Prime offers a pricing model that provides access to OpenText Managed Services at a single, per-user price and includes our collaborative cloud platform, OpenText Core. Both OT2 and Prime have been designed to make it easier for our customers to access our EIM applications and services. Look for more information on the OpenText Enterprise Cloud in an upcoming post in this series.
Demands for increased mobility and workforce collaboration are changing the way companies approach productivity. With new developer functionality added to OpenText Core, organizations can build applications and workflows on top of their enterprise-wide Core implementations. The addition of forms to Core also allows users to collect data and information for simple and secure business collaboration.
Finally, we have expanded our low-code development capabilities with additional out-of-the-box integrations designed to support the developer in a unified application development environment.
Data drives business, no matter what size an organization is, regardless of industry. The OpenText EIM platform helps the Intelligent and Connected Enterprise unlock the value of its information, scale and differentiate so that it doesn’t evaporate in an information-infused future.
My next post in this series focuses on how technology has great potential to enrich our lives.