Open Text Helps Developers Diversified Realty Streamline Business Processes

    Industry Leading Capabilities of Livelink ECM Suite Helps Manage Content
    for Leases, Legal Transactions, Contracts, Accounts Payable, Accounts
    Receivable/Collections, Marketing and SOX Compliance

    CHICAGO, June 12 /CNW/ - Open Text(TM) Corporation (NASDAQ:   OTEX, TSX:
OTC), the largest independent provider of Enterprise Content Management (ECM)
software and solutions, today announced that Developers Diversified Realty, a
real estate investment trust (REIT) that owns, manages, and develops shopping
centers in 45 states, Puerto Rico and Brazil, is deploying Open Text's
Livelink ECM to improve business processes across multiple departments,
increase productivity, control information, and meet compliance requirements
associated with the Sarbanes-Oxley (SOX) Act.
    Developers Diversified has experienced significant growth over the last
seven years, more than doubling its portfolio of properties and growing from
200 to 650 employees. This exponential growth provided new business challenges
for Developers Diversified, prompting the company to look for solutions that
would help it respond faster to new opportunities, manage its businesses more
efficiently, and address regulatory requirements.
    Developers Diversified conducted a rigorous RFP process to find an
enterprise content management solution that would meet the organization's
goals and objectives. The company considered the products from a manageability
perspective, the functionality of the applications from a workflow, search,
and overall document management perspective and what vertical applications the
solution offered.
    "Open Text's leadership position in the ECM market is evident based on
the product capabilities, along with their professionalism and unmatched
subject matter expertise," said Richard Brown, executive vice president of
international at Developers Diversified. "We believed there were a couple of
important ingredients that came from Open Text. One, purely from an
organization-to-organization perspective, we were very comfortable with the
culture in Open Text. We felt that it was a company that we could work with on
an interactive, open basis. We also thought that the key products could
provide solutions for us. When compared with the competitive offerings, Open
Text was the best fit for us and a comfortable choice."
    Developers Diversified identified various business areas that could
benefit from automated processes and application integration. The company
needed a solution that could handle the immediate document management needs of
the business and also support its many ongoing content needs, such as ERP
integration, marketing, internal controls, compliance, archiving, and others.
The Livelink ECM solution has satisfied all of its content management
requirements within multiple departments including legal, acquisitions and
dispositions, accounting, marketing, leasing, and more.
    Developers Diversified uses the Livelink ECM suite to manage a variety of
content including corporate record books, property and loan documents, legal
documents and all associated peripheral documents. The company maintains files
for approximately 12,000 tenants which amount to roughly 250,000 documents and
more than two million images. Using the Open Text solution, the documents are
available to all employees at a keystroke.
    In the legal department, all documents are stored in the Livelink ECM
repository and metadata tagging has enabled detailed search functionality.
Some of the lease documents contain key provisions, and this language has been
tagged to allow not only a quick search on the documents, but also provide the
ability to search for a particular clause. End users can also review key
provisions in a document and then pull up documents with similar provisions
across a property or tenant profile history.
    "The ability to pull these documents up within minutes is a huge cost
saving, both in terms of time and money," said David Weiss, senior vice
president and general counsel at Developers Diversified. "Because we are so
transaction-based, we need access to documents 24 hours a day - and not just
for people within the company, but also consultants and outside counsel that
we work with. The Open Text solution enables us to provide access to third
parties on a secure basis, allowing them 24/7 access to those documents."
    The acquisitions and dispositions work is heavily dependent on
information flow and the timeliness of that flow. When Developers Diversified
acquires or sells a property, getting the correct information to the
appropriate parties quickly, whether it is the buyer, the seller, attorneys or
other providers, is critical. With Livelink ECM users can instantly download
data or provide the appropriate party with secure access to the system,
cutting response time at least by half.
    Accounts payable, lease accounting, accounts receivable and property
reporting at Developers Diversified looked to Open Text to enable immediate
access to financial information and improve tenant services. Company growth
means escalating numbers of leases, and since all documentation used to be
kept in hard copy format, storage costs were rising and it was increasingly
more difficult to retrieve the required information in a timely manner.
    "Having leases online has increased our efficiency tremendously. We
receive various tenant inquiries regarding their invoices in our accounts
receivable and collections departments and it used to take us on average two
days just to pull together the necessary hard copy documents in order to start
the response process. This time has been substantially reduced by having
tenant leases and related correspondence on-line, thus our staff's
productivity in resolving tenant inquires has increased," said Neal Infante,
vice president - property controller at Developers Diversified.

    SOX Compliance

    Open Text Livelink ECM - Internal Controls has helped Developers
Diversified improve reporting capabilities and automate processes that are
required for Sarbanes-Oxley Section 302 compliance. Prior to the deployment,
the monitoring and reporting process was quite tedious as it involved a
significant number of business process spreadsheets that needed monitoring to
determine if everything had been tested and completed.
    A significant benefit of the Livelink ECM - Internal Controls solution is
that it allowed Developers Diversified to take information from many different
places and establish one central database where it can create customized
    "We determined that the money we will save by significantly reducing our
offsite and onsite paper document storage costs will pay for the Livelink
implementation within the first year," said Brown. "We have achieved our
business objectives 110 percent by the implementation of the Open Text
solutions. I think most people in the organization feel that the
implementation has exceeded their expectations. We look at Open Text as a
vehicle for success inside the real estate industry. We believe that it
differentiates us, providing a competitive advantage."
    The Open Text solution integrates seamlessly with several business
systems at Developers Diversified. Future plans include integrating the JD
Edwards system for accounts payable with Livelink ECM to support the smooth
integration of scanned invoices into their accounting system. The integration
is expected to improve customer service to tenants. In addition, a new lease
management system that bridges the Livelink ECM solution and the accounting
system will provide leasing and sales staff with an interactive intuitive
dashboard to access deals in progress from the time of the proposal to lease
negotiations to eventual tenant billing.
    For more information about the Developers Diversified deployment, read
the Open Text customer success story at:
<a href="">
    For more information about Developers Diversified Realty, go to

    About Open Text

    Open Text(TM) is the world's largest independent provider of Enterprise
Content Management software. The company's solutions manage information for
all types of business, compliance and industry requirements in the world's
largest companies, government agencies and professional service firms. Open
Text supports approximately 46,000 customers and millions of users in 114
countries and 12 languages. For more information about Open Text, visit

    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
uncertainties, and actual results may differ materially. The risks and
uncertainties that may affect forward-looking statements include, among
others, the failure to develop new products, risks involved in fluctuations in
currency exchange rates, delays in purchasing decisions of customers, the
completion and integration of acquisitions, the possibility of technical,
logistical or planning issues in connection with deployments, the continuous
commitment of the Company's customers, demand for the Company's products and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission (SEC), including the Form 10-K for the year
ended June 30, 2006. 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) 2007 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: Michele Stevenson, Senior Manager, Corporate
Communications, Open Text Corporation, (519) 888-7111 ext.2594,; Richard Maganini, Director, Corporate Communications,
Open Text Corporation, (847) 267-9330 ext.4266,; Brian
Edwards, McKenzie Worldwide, (503) 577-4583,

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