Prepress
PayStream Advisors Study Cites Open Text Leadership in Accounts Payable
Friday 26. September 2008 - New Imaging and Workflow Automation Study Evaluates Open Text AP Offerings for Use With Solutions from Oracle and SAP
Open Text Corporation (NASDAQ: OTEX, TSX: OTC), a global leader in enterprise content management (ECM), today announced that an imaging and workflow automation study by PayStream Advisors concludes that Open Text has emerged as a clear market leader in accounts payable (AP) content management solutions for use with solutions from Oracle and SAP AG. According to the report, Open Texts AP solutions help customers significantly lower cost-per-invoice processing, reduce invoice processing time, and slash invoice resolution time, thus freeing finance department personnel to pursue more strategic activities.
PayStream Advisors is a specialized consultancy that provides third-party research, technology vendor consultation and corporate consultation, covering areas such as risk assessment, and solutions options implementation preparation.
For this report, PayStream Advisors analyzed Open Texts Livelink ECM – Accounts Payable Extensions for Oracle and Livelink ECM – Vendor Invoice Management (VIM) for use with SAP solutions. The report states: “Each of the Livelink solutions feature advanced ECM functionality, and, as integrated modules or as individual stand-alone platforms, deliver best-of-breed document management, collaboration, records management, archiving, imaging, report management, digital asset management, advanced workflow, business process management, information retrieval, and web content management.”
On the Livelink ECM – Accounts Payable Extensions for Oracle, the report states: “The AP Extension platform vastly improves upon Oracles user interface, reporting tools, and core business processing, while incorporating next-generation technologies such as XML data modulation, BPEL, and three-way match. The end-result is increased business-intelligence, top-to-bottom visibility, and the transformation of AP as strategic for working capital optimization.”
On the VIM solution, PayStream Advisors found that “using VIM, AP personnel can focus on value-added activities. Open Texts Vendor Invoice Management tool goes far beyond the proverbial tip of the iceberg’ of AP automation, i.e. reducing headcount, offering a suite of functionality that drives strategic working-capital decisions. Rapid rollout and high acceptance rates, in addition to the solutions service oriented architecture, create rapid ROI and facilitate spend and cash visibility, thus enabling further improvements, customizations, and optimizations. Adopters see reduced duplicate and late payments, while improving vendor relations, opportunities for outsourcing, and strategic working capital.”
As a final impression, the report concludes: “Open Text is a strong player in the Enterprise Content Management marketplace, and clearly sees product innovation as the key to maintaining its position. As Oracles Fusion continues to evolve, Open Text and its customers will clearly reap the benefits of integrating and adapting to the new architecture. Both solutions readily demonstrate Open Texts expertise in content management. Given the strength of its solutions for SAP and Oracle ERP applications, Open Text has emerged as a market leader in AP.”
“Given the current economic conditions and increased competitive pressures from globalization and other factors, it behooves companies to look for every opportunity to lower costs and improve operations,” said Kirk Roberts, President, Integrated ECM Operating Group at Open Text. “Getting a handle on all the unstructured content surrounding an Oracle or SAP solution-based AP system and automating AP workflows, as PayStream Advisors research suggests, offers rapid payback on investment and long-term efficiencies for the enterprise.”