Global Financial Services Firm Finds Seamless Integration with SAP Systems, Scalability, Customer Acceptance Key Factors in Continued ECM Investments
MUNICH, Germany, April 19 /CNW/ - Open Text(TM) Corporation (NASDAQ: OTEX, TSX: OTC), the preeminent provider of Enterprise Content Management (ECM) software, today announced that MLP AG, a leading financial services and wealth management consulting company, has expanded its use of the Open Text ECM Suite with customer information management capabilities and self-service portals for its 4,000 users, including financial advisors and clients worldwide. As with the ECM Suite, the new functionality is integrated with MLP's SAP solutions, enhancing MLP's customer service and related processes as well as helping it meet growing compliance requirements.
The Open Text platform has been in use at MLP since 1997, when the company sought a solution to address a growing paper flood and the problems it caused in terms of time expenditure, processing speed, quality and compliance. MLP first turned to Open Text's ECM Suite with the intention of adding to the platform over time while maintaining tight integration with its SAP systems. The latest enhancements allow users to retain their comfortable work environments, typically the SAP GUI or SAP Enterprise Portal, while gaining access to the new functionality.
"Of the options we explored, Open Text clearly demonstrated the deepest integration and closest partnership with SAP along with more successful customer references," said Klaus Strumberger, MLP CIO. "The outstanding scalability of the Open Text solutions was an added benefit along with the company's impressive product roadmap."
MLP uses the Open Text ECM Suite company-wide to store and archive revision-proof SAP financial receipts and transfer paper documents, particularly in the human resource department, to an electronic archive system. Paper archives at MLP exist only for documents like employment agreements and insurance policies, which must be retained in paper form under local laws.
Self-Service Portals, Optimal Client Care, Reliable Compliance
MLP's addition of the customer information management capabilities and a self-service portal for customers and consultants are an expansion of the company's previous installation of a digital inbox to allow all incoming client e-mails to be stored directly in the Open Text archive. Incoming hardcopy mail can also be scanned in and stored in the archive.
Other customer-related documents and information, particularly from SAP CRM, are also available in the archive and accessible by an electronic customer folder to MLP's financial advisors, who can access it via the intranet or remotely. This means that the relevant data is always available. MLP clients and advisors can simply view information - often pulled from multiple repositories - through a secure page on the MLP website.
"Through the use of ECM, we have been able to cut costs and further improve efficiency. In addition, we have improved client service and process quality," said Strumberger. "Another important benefit is compliance. Due to the fact that our processes are mostly digital, we can reproduce and document them in all sections. Using the exact same infrastructure, we can fully meet the requirements of multiple regulatory agencies without a great deal of time or effort."
Open Text is a strategic SAP software solution partner for ECM with multiple products that have achieved SAP-certified integration status. The two companies have been working together for over 20 years to help more than 3,000 SAP customers manage enterprise content more efficiently. Open Text is currently the only ECM vendor with a number of ECM solutions resold by SAP. For more information on the Open Text ECM Suite for SAP Solutions, go to http://www.opentext.com/2/global/sol-products/sol-pro-extensions-sap.htm
MLP is Germany's leading independent consulting firm. Supported by comprehensive research, the Group provides a holistic consulting approach that covers all economic and financial questions for private and corporate clients, as well as institutional investors. The key aspect of the consulting approach is the independence of insurance companies, banks and investment firms. The MLP Group manages total funds of more than (euro)17 billion and supports more than 780,000 private and 4,000 corporate clients. MLP was founded in 1971 and holds a full banking licence.
The concept of the founders, which still remains the basis of the current business model, is to provide long-term consulting for academics and other discerning clients in the fields of provision, wealth management, healthcare, insurance, financing and banking. Those with assets above (euro) five million are looked after by the subsidiary Feri Family Trust. Moreover, the Group provides consulting services to institutional investors via Feri Institutional Advisors GmbH. Supported by its subsidiary TPC and the joint venture HEUBECK-FERI Pension Asset Consulting GmbH, MLP also provides companies with independent consulting and conceptual services in all issues pertaining to occupational pension provision and asset and risk management.
About Open Text
Open Text, the preeminent enterprise content management software solutions company, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 100 million 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 www.opentext.com.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on the Open Text'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. Open Text's assumptions, although considered reasonable by the company at the date of this press release, may provide 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 the Open Text'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, Open Text disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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