SAP to Resell Open Text Vendor Invoice Management (VIM) and Invoice Capture Center to Help Customers Optimize Cash Flow
Johannesburg — Open Text™ Corporation (NASDAQ: OTEX, TSX: OTC), a global leader in enterprise content management (ECM), and SAP AG (NYSE: SAP) announced today that SAP will resell Open Text Vendor Invoice Management (VIM) under the name the SAP® Invoice Management application by Open Text. As part of this agreement, SAP will also resell Open Text’s document capture solution Invoice Capture Center, from Open Text’s recent acquisition of Captaris, under the name optical character recognition (OCR) option for SAP Invoice Management. Today’s announcement builds on the reseller agreement signed by the two companies last year and demonstrates continued evidence of SAP’s ecosystem strategy to deliver additional choice and flexibility to customers looking to extend the value of their SAP investments. The announcement was made at Open Text Content World, being held Nov. 18–20 in Orlando, Florida.
Applications Optimize Entire Financial Supply Chain
Processing paper invoices, which requires substantial manual effort for data entry to financial applications, represents a major challenge for customers to manage the volume of invoices, ensure timely payment and keep costs under control. Large corporations process millions of invoices per year, of which usually more than 80 percent are still paper-based. Although invoice exceptions represent a small percentage of this volume, they account for the majority of processing time.
Available today, SAP Invoice Management will be targeted to all industries and organizations interested in increased control and efficiency of their invoice-to-pay cycle. Organizations already using VIM, including many Fortune 1000 companies, experience significant benefits, such as dramatically lower cost-per-invoice, improved on-time payment performance, drastically improved ability to leverage cash discounts, automated internal financial controls, reduced duplicate invoices and payments, improved ratings by suppliers and, as a result, greater leverage in negotiating beneficial terms and pricing. SAP Invoice Management completes the portfolio of finance solutions for SAP’s enterprise resource planning (ERP) application, SAP® ERP, enabling companies to optimize their entire financial supply chain.
The OCR option for SAP Invoice Management is scheduled to be available in early 2009. The document-capture capabilities allow organizations to convert paper invoices into electronic form so they can be processed electronically at a lower cost.
“Open Text continues to demonstrate its importance as an SAP partner, adding value with its proven experience in enhancing document processing solutions,” said Tom Roberts, global vice president, Global Software and Technology Partners, SAP. “By working together and expanding our reseller agreement to include invoice management, we are able to assist customers in transforming their finance functions in an efficient, more holistic manner.”
“Organizations worldwide run critical business operations on SAP solutions,” said John Wilkerson, executive vice president of Global Sales, Services and Support, Open Text. “Through our reseller agreement, we’re providing combined solutions that offer the kind of bottom-line value that’s essential in a tightening economy. We benefit from a long history of experience working with SAP to deliver these solutions, and look forward to continuing the success we’ve seen so far in our work with SAP.”
Open Text is an industry leader in ECM solutions for use with SAP solutions, leveraging two decades of partnership and co-development, and expertise gained from delivering solutions to more than 2,700 SAP customer sites around the world. Open Text’s well-established products offer a complete range of capabilities for managing and archiving business documents—incoming and outgoing invoices, orders, delivery notes, quality certificates, human resources documents—that originate from customers’ SAP applications. Open Text’s applications for use with SAP software help customers improve efficiency in key processes, manage compliance, consolidate IT systems and reduce costs. Open Text is an SAP software solution partner with products that have achieved SAP Certified Integration status. Because of the strategic relationship between Open Text and SAP in regards to ECM, SAP also resells Open Text products in this space.
SAP’s Strategic Initiatives Director, Simon Carpenter said “In the current economic climate CFO’s need to be mindful of two things; as creditors they are someone else’s “receivables” and this is an area that any company worth its salt will be focussing on. Failure to settle obligations on time will not be treated as leniently as it was previously thus exposing organisations to financial, legal and reputational risks as well as potential interruptions in supply continuity. Over and above this there is an increased focus on operational efficiency, in order to protect margins, as well as the need to manage working capital effectively. SAP® Invoice Management application by Open Text helps CFOs to manage these issues more effectively, so we are excited about this announcement and our ability to provide relevant, timely solutions to our African customers.”
To learn more about SAP Invoice Management by Open Text and Open Text’s ECM applications for use with SAP software such as the SAP® Archiving application by Open Text and the SAP® Document Access application by Open Text, please visit http://www.sap.com/solutions/solutionextensions.
About Open Text
Open Text, an enterprise software company and leader in enterprise content management, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 46,000 customers and millions of users in 114 countries. Working with our customers and partners, we bring together leading Content Experts™ to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com.
This news release may contain forward-looking statements relating to the success of any of the Company’s strategic initiatives, the Company’s growth and profitability prospects, the benefits of the Company’s products to be realized by customers, the Company’s position in the market and future opportunities therein, the deployment of Livelink and our other products by customers, and future performance of Open Text Corporation. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. The risks and uncertainties that may affect forward-looking statements include, among others, the failure to develop new products, risks involved in fluctuations in currency exchange rates, delays in purchasing decisions of customers, the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company’s customers, demand for the Company’s products and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission (SEC), including the Form 10-K for the year ended June 30, 2007. You should not place undue reliance upon any such forward-looking statements, which are based on management’s beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management’s beliefs or opinions change.
Copyright © 2008 by Open Text Corporation. LIVELINK ECM and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.
SAP is the world’s leading provider of business software (*), offering applications and services that enable companies of all sizes and in more than 25 industries to become best-run businesses. With approximately 76,000 customers (includes customers from the acquisition of Business Objects) in over 120 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE, under the symbol “SAP.” (For more information, visit www.sap.com)
(*) SAP defines business software as comprising enterprise resource planning and related applications.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
Copyright © 2008 SAP AG. All rights reserved.
SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary.
For more information, press only:
Mpho Merriweather-Mabe, Ogilvy Public Relations, Mpho.Merriweather@ogilvypr.co.za +27 11 709 9609, +27 82 389 4321