OpenText is a considered leader in information management software and a habitual acquirer of companies, the most recent being Micro Focus. I recently talked with Muhi S. Majzoub, executive vice president and chief product officer at OpenText, who has overseen 25 acquisitions in his ten and a half years with the company—and can still name them all!
His secrets for successful acquisitions? Keep value to customers a priority, learn from every acquisition and foster collaboration and teamwork with the new colleagues coming into the company.
With OpenText World EMEA 2023, an in-person and virtual event in Munich, Paris and London coming this week, it was a great time to speak with Majzoub, get a glimpse of what will be announced at the event and understand how recent acquisitions have added value to the OpenText portfolio.
Project Titanium — The transition to the cloud
OpenText provides an integrated information management platform. The comprehensive suite of solutions enables organizations to capture, manage, store and protect information. The suite covers content, document and records management, compliance and archiving functions.
The company’s Project Titanium was launched in 2021 to provide a common platform for consuming the information management suite on public and private clouds. Today, the OpenText public cloud is at functional parity with the private cloud offering, giving customers the choice of where to place a workload.
OpenText has prioritized research and development investments in the cloud with a quarterly release cadence of new functionality—the great advantage of delivery through a SaaS platform. The platform is called OpenText Content Cloud. During OpenText World EMEA, OpenText will announce the second-quarter release of OpenText cloud editions (CE 23.2) containing more than a hundred innovations in content services, digital experience, supply chain and business network products. Below, I will cover the most significant updates.
OpenText CE 23.2 utilizes AI to reduce manual and repetitive tasks and to harness data insights for more intelligent business decisions. Customers can now access banks of valuable untapped content insights through the new Micro Focus IDOL integration for OpenText Extended ECM and OpenText Documentum.
The new integration enables customers to automate identifying, extracting and filing business-critical content from third-party applications to reduce content sprawl and enrich the metadata for content already in the Extended ECM or Documentum repository.
Also, in CE 23.2, content management is connected with process automation, which will enhance productivity workflows. The OpenText Connectors for Microsoft Power Automate enable the extension of business processes from OpenText Extended ECM, OpenText Core Share and OpenText eDOCs into virtually any application without needing help from IT.
AI and analytics delivering much-needed assistance
In CE 23.2, the improved user experience helps users navigate the model's statistics to unlock complex, unstructured content quickly and efficiently, while requiring less prior knowledge from the user. Advancements in machine learning (ML) training performance also reduce the time to train classification models and derive high-quality critical information.
OpenText Magellan Risk Guard is an AI-driven, sensitive data discovery application. Improvements in it allow developers to interact with the application's backend through API calls—the communication path between an application and OpenText Magellan Risk Guard—thereby facilitating integration with any desired external application. At the same time, work on OpenText Magellan Risk Guard for Google Cloud Platform is progressing ahead of a forthcoming SaaS offering for Risk Guard that will allow customizable APIs for easy integration within any application.
Integrate and exchange information with customers and partners
Quickly integrating and exchanging information with customers and partners is more vital than ever as supply chain networks become complex. OpenText Active Risk Monitor will proactively assess and manage supply chain risk and ESG compliance by aggregating information from third-party sources, including EcoVadis and Dun & Bradstreet. Meanwhile, OpenText Trading Grid provides a consolidated view of suppliers and reviews risks associated with a specific business activity.
CE 23.2 also includes new tools to leverage B2B transaction data to optimize end-to-end supply chain processes. For example, OpenText Active Invoices with Compliance will now securely connect people, content and systems holistically across the digital ecosystem with OpenText Active Access.
Omnichannel customer and employee experiences
CE 23.2 contains an upgrade called OpenText Experience Cloud, a portal designed to give employees greater visibility into tasks, tools and content and improve decision-making. Customer and employee experiences are connected, enabling employees to use the most appropriate information through a personalized portal.
OpenText has a dizzying array of products and functionality, as this brief overview of just some of the hundred updates would suggest. However, if you are looking for a cloud-based comprehensive information management solution, OpenText should be on your shortlist.
In hindsight, Project Titanium and the move to deliver seamless complete and integrated information management in the cloud has been a stroke of genius. The world of information management is evolving towards intelligent content services based on artificial intelligence and adaptive cloud strategies, positioning OpenText well in a very competitive space.
To discover more about OpenText, join OpenText World EMEA 2023 — Innovation Summits in person or virtually.