Upheaval in the Financial Markets Sharpens the Focus on Information Governance and Enterprise Transparency



    
    Fuels Trend to Improve Oversight and Control of Enterprise Information to
    Proactively Mitigate Risk, Prepare for Next Wave of Compliance Pressures

    Improving Processes, Reducing Costs Keys to Success in Volatile Global
    Economy
    

    CHICAGO, Oct. 6 /CNW/ - While no one can predict the full impact of the
mortgage crisis gripping Wall Street and Main Street, one likely outcome is a
renewal of the culture of compliance that took root in the wake of Enron's
collapse a few years ago. For many organizations, it means stepped up efforts
to improve the management of documents and emails supporting key regulatory
processes. Better information governance can help organizations maintain
stakeholder trust, improve transparency in a new wave of regulatory scrutiny
and uncover new opportunities for cost reductions, according to Open Text(TM)
Corporation (NASDAQ:   OTEX, TSX: OTC), a global leader in enterprise content
management (ECM) software.
    "For large companies, information governance is a major challenge, given
the complexity of information systems across many departments, plus a store of
electronic content that grows daily," said Cheryl McKinnon, Director of
Collaborative Content Management at Open Text. "Companies in many industries
have made progress over the last few years to tap into this mountain of
information to improve controls. But there's still more to do in corporations
and government to establish comprehensive governance strategies, particularly
with today's increasingly global, distributed work environment."
    According to McKinnon, information governance is even more important,
given the likelihood of new regulations in the U.S. and other countries to
address the causes of the current financial crisis, "An information governance
strategy prepares your organization to meet new regulatory rules sooner,
because processes and controls are already in place: there is full
transparency into how information flows through the organization."
    A governance strategy for content of all types and forms is particularly
critical as more organizations adopt new forms of collaboration, Web 2.0 and
other tools to help geographically dispersed staff work together without
incurring travel or carbon footprint costs. The right governance strategy
helps organizations capture and preserve content from these collaborative
applications. This not only helps organizations meet regulatory and discovery
rules, it also creates a corporate memory, where critical information on best
practices can be preserved for future projects. Potential disruptive forces in
the enterprise will bring this requirement back to the surface in the event
that information workers shift jobs, leave the organization or face merger and
acquisition upheavals.
    To be successful, organizations must approach information governance as
an enterprise-wide endeavor, rather than limit the scope to specific
departments. This is critical to ensuring all important information, no matter
where it's stored in an organization, is managed consistently, under the same
set of rules. "You may decide to address information governance requirements
in stages over time, but your strategy should be based on a review of people,
processes and content across the organization. Companies that take this
approach often expose potential legal or regulatory risks," said McKinnon.
    Integrated records and document management, collaboration, archiving,
internal controls, email management, document capture/imaging, and
content-centric workflows are the ECM components that form the cornerstone of
an information governance strategy. These technologies allow organizations to
manage information across its natural business lifecycle, define critical
documents or emails that must be managed and preserved according to specific
rules, and allow organizations to manage electronic information, hard-copy
documents and communication of key policies, procedures and controls within
the business.
    Organizations can also see cost improvements and efficiencies from an
effective information governance strategy. "With today's global economy and
increased competitive pressures, companies have to look hard at every
opportunity to lower costs and improve operations," said McKinnon.
"Information governance also takes into account content from processes such as
accounts payable or receivables, where customers can use ECM to improve
processes and reduce costs.
    Open Text offers ECM solutions that support companies' compliance
initiatives, while helping them manage information more efficiently to reduce
costs and improve processes. For more information, go to www.opentext.com

    About Open Text

    Open Text, an enterprise software company and leader in enterprise
content management, helps organizations manage and gain the true value of
their business content. Open Text brings two decades of expertise supporting
46,000 customers and millions of 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.

    
    Safe Harbor Statement Under the Private Securities Litigation Reform Act
    of 1995
    

    This news release may contain forward-looking statements relating to the
success of any of the Company's strategic initiatives, the Company's growth
and profitability prospects, the benefits of the Company's products to be
realized by customers, the Company's position in the market and future
opportunities therein, the deployment of Livelink and our other products by
customers, and future performance of Open Text Corporation. Forward-looking
statements may also include, without limitation, any statement relating to
future events, conditions or circumstances. Forward-looking statements in this
release are not promises or guarantees and are subject to certain risks and
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others, the failure to develop new products, risks involved in fluctuations in
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commitment of the Company's customers, demand for the Company's products and
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Securities and Exchange Commission (SEC), including the Form 10-K for the year
ended June 30, 2008. You should not place undue reliance upon any such
forward-looking statements, which are based on management's beliefs and
opinions at the time the statements are made, and the Company does not
undertake any obligations to update forward-looking statements should
circumstances or management's beliefs or opinions change.

    Copyright (C) 2008 by Open Text Corporation. LIVELINK ECM and OPEN TEXT
are trademarks or registered trademarks of Open Text Corporation in the United
States of America, Canada, the European Union and/or other countries. This
list of trademarks is not exhaustive. Other trademarks, registered trademarks,
product names, company names, brands and service names mentioned herein are
property of Open Text Corporation or other respective owners.





For further information:

For further information: Richard Maganini, Open Text Corporation, (847)
267-9330 ext.4266, rmaganin@opentext.com; Stephanie Dodge, Open Text
Corporation, (519) 888-7111, x2429, sdodge@opentext.com; Brian Edwards,
McKenzie Worldwide, (503)577-4583, briane@mckenzieworldwide.com


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