Coroplast Group Partners with OpenText to Meet Poland's E-Invoicing Mandates

OpenText's Business Cloud and E-Invoicing Platform simplifies e-invoicing for global mid-sized business

WATERLOO, ON, April 2, 2024 /CNW/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, today announced that it has been selected by Coroplast Group, a leading manufacturer in the fields of Technical Adhesive Tapes, Wires & Cables, and Wire Harnesses, as its e-invoicing provider for Poland. OpenText's e-invoicing solutions will empower the growing global company to confidently manage mandatory governmental requirements in Poland, partnering toward the goals of a seamless connection to the Polish KSeF-portal and compliance with the local mandate.

As part of the European Commission's universal e-invoicing mandate (ViDA), businesses operating in Poland must comply and establish the necessary infrastructure. With OpenText as its e-invoicing provider, Coroplast Group can feel confident in its compliance while also reaping the benefits of the platform, such as streamlined document processing, real-time invoice information for business management, and expedited VAT returns.

"As our company grows worldwide, it can be tricky to understand and follow the various mandates in each new market," said Astrid Hasen, Teamlead SAP FI/CO at Coroplast Group. "With OpenText's help, we are confident that we now meet the electronic invoicing requirements not only in Poland but also in other countries. This ensures not only our compliance but also provides our teams access to a world-class user-friendly invoicing platform that makes our processes more efficient."

Coroplast Group's decision to partner with OpenText is based on the robust capabilities of OpenText's Business Network Cloud Foundation. This innovative solution offers a lean and adaptable approach, especially suited for companies venturing into managed services. This strategic move aligns seamlessly with the evolving landscape of digital transformation, empowering mid-sized companies like Coroplast Group to efficiently manage their electronic data interchange (EDI) and e-invoicing processes.

"As a leader in supply chain optimization, we are committed to helping businesses meet the growing global e-invoicing mandates," said Muhi Majzoub, EVP & Chief Product Officer at OpenText. "In today's fast-paced global economy, complying with ever-changing regulations can be a challenging and time-consuming task for many companies. OpenText is here to take the pressure off businesses by offering trustworthy and flexible e-invoicing solutions. Our goal is not only to meet regulatory requirements but also to provide valuable real-time insights that will revolutionize the future of business."

OpenText's Business Cloud and E-Invoicing Platform is a cloud-based electronic invoicing solution that helps businesses reduce operational costs,  comply with regulations, and increase process efficiency. The platform offers a broad set of solutions to support electronic invoicing, including OpenText™ Active Invoices with Compliance and OpenText™ Business Network Cloud Foundation. These solutions simplify e-Invoicing compliance to meet regulations in more than 48 countries and provide B2B integration for small and mid-sized businesses. With OpenText's Business Cloud and E-Invoicing Platform, businesses can reduce the time spent on invoicing, minimize invoicing errors, expedite payment, and enhance customer satisfaction.

Additional Resources:

• Stay up to date on new global developments and trends in the field of e-invoicing by watching our webinar on demand series.
• Check out our German E-Invoicing blogs.
• Discover our e-invoicing solutions and offerings.

To learn more about OpenText™ Business Network Cloud Enterprise read here.

About Coroplast Group

The Coroplast Group is a globally successful, independent, family-run company managed in the third generation by Natalie Mekelburger as President and CEO. Over its 95-year history, the company has evolved from a local manufacturer of electrical insulation materials to a global player and technology leader in the fields of Technical Adhesive Tapes, Wires & Cables, and Wire Harnesses. Visit our website to learn more.

About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.

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Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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