OpenText has been hogging the news wires lately -- and for good reason.
The Canadian enterprise information management (EIM) player recently expanded its strategic partnership with Google Cloud. Apparently, investors loved the news and sent the company's stock soaring. It followed this announcement with the most extensive technology update. Lastly, OpenText sealed a partnership with Mastercard that looks to help companies tackle financial inefficiencies across global supply chains.
Google is now OpenText's "preferred partner for enterprise cloud." OpenText customers still have free rein on their choice of a cloud service provider, but the Google partnership will focus more development resources on the Google Cloud, giving customers more tools to containerize and migrate to Google.
With multicloud IT environments becoming the new normal, OpenText is leveraging Google’s Anthos. It will deploy several OpenText EIM application workloads on the hybrid multi-cloud platform. These include its multi-layered global disaster recovery services.
OpenText will integrate with Google’s GSuite applications and also add Google's AI and machine-learning capabilities for purpose-built industry solutions. Joint go-to-market activities in industries such as financial services, media and entertainment, healthcare, and the public sector will help CDOs move critical workloads to the cloud more easily.
"With the partnerships and product integrations announced, our shared customers can leverage the performance, scalability, and security of Google Cloud while deploying cutting-edge enterprise information management applications from OpenText," said Mark Barrenechea, OpenText's chief executive officer.
Mother of Updates
In its most massive tech update, OpenText is strengthening several of its products. They include OpenText Cloud, Business Network, and new applications delivered on their EIM-as-a-service OpenText OT2.
“OpenText is building key capabilities for our customers’ most complex digital challenges,” said Muhi Majzoub, OpenText’s executive vice president for Engineering.
OpenText is also launching Release 16 Cloud Edition (CE) EIM applications, which will simplify cloud deployment with "seamless" upgrades, cost-effective deployment, and private cloud security.
Meanwhile, the new Release 16 Enhancement Pack 6 (EP6) uses AI and automation to boost productivity through several newly launched or updated capabilities, such as eDiscovery and Magellan. Their EnCase Endpoint Detection and EnCase solutions can also govern information at scale.
“Using OpenText Magellan’s AI-assisted analytics, we were quickly able to identify tens of thousands of accounts at risk of attrition,” said Junid Baharuddin, vice president of Core Banking Systems and analytics head, PT. Bank Mega. “With an integrated and intelligent view of our customer data, we can better ensure client satisfaction and proactively manage risk.”
Making Global Supply Chains More Efficient
The new OpenText-Mastercard collaboration aims to manage integrated payments and vendor master data better. Starting with the automotive supply chain, it promises faster cash flow, secure financial transactions, and reduced trade finance risks.
The solutions will leverage OpenText Portals to expand supplier portal capabilities. They include parts and services management that use IoT contextual telemetry to reduce supply chain disruptions. For example, it identifies suppliers with available parts to fill production gaps.
Mastercard gains by having more robust digital authentication and authorization services for its Mastercard Track users which monitors sanctions, credit, and other business standards. Companies can then increase trust and security with their trading partners.
“Digitizing and simplifying supply chain related finance processes can ease global trading operations across industries and unlock opportunities for suppliers at every level to do business with enterprise buyers more efficiently,” said Claire Thompson, executive vice president of Enterprise Partnerships at Mastercard.
Technological Advancement Demands New Approaches
As companies grow, securing and governing information at scale will be a priority concern for many CDOs.
"Rapid technological advancement, distributed supply chains, cybersecurity concerns, regulatory changes, and shifting workforce dynamics require business leaders to embrace new approaches,” said Barrenechea.
He sees the recent announcements giving CDOs a new approach. The question now is whether CDOs will take notice and agree with their wallets.