SAP to Resell Open Text Vendor Invoice Management (VIM) and Invoice Capture Center to Help Customers Optimize Cash Flow ORLANDO, Fla. and WALLDORF, Germany, Nov. 18
ORLANDO, Fla. and WALLDORF, Germany, Nov. 18 /PRNewswire-FirstCall/ --
Open Text(TM) 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(R) 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.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050310/SFTH009LOGO-a)
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(R) 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.
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(R) Archiving
application by Open Text and the SAP(R) 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(TM) to help
organizations capture and preserve corporate memory, increase brand equity,
automate processes, mitigate risk, manage compliance and improve
competitiveness. For more information, visit http://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
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For more information, press only:
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