Leading European Automobile Manufacturer Optimizes Digital Payment and Liquidity Management Processes
WATERLOO, Ontario, May 30, 2018 /CNW/ -- OpenText™ (NASDAQ: OTEX,TSX: OTEX), the global leader in Enterprise Information Management (EIM), today announced that Opel Automobile GmbH (Opel) has selected OpenText to digitize the organization's payment management processes, streamlining the information flow and payment processes between Opel and its global supply chain—including suppliers, dealerships, and financial institutions.
With payment management solutions from OpenText, Opel can integrate accounts payable and payment systems, streamlining electronic funds transfers to provide real-time visibility into cash, liquidity and financial positions. OpenText also provides Opel's Payment team with strengthened control and delegation procedures, as well as improved support for global suppliers and dealerships through enhanced B2B integration and digital payment processes.
"As one of Europe's leading car makers, Opel has a complex global supply chain, with many thousands of suppliers, partners and customers," said Karsten Mecklenburg, Director Information Technology, Opel Automobile GmbH. "An efficient and streamlined invoicing and payment process across our entire supply chain is a vital component in ensuring the success of our business. By utilizing OpenText's Business Network and Managed Services we have been able to provide real-time financial reporting to the business, enabling Opel to make strategic, global funding decisions with greater insight and certainty."
"Management of payments, invoices and costs is a vital part of any organizations' success, and gets more complex in a digital world," said Mark J. Barrenechea, Vice Chair, CEO & CTO, OpenText. "Having a real-time view of a company's cash and liquidity position allows management to optimize working capital and the performance of their business. Real-time insight is vital for today's successful digital enterprises."
OpenText Business Network is a set of solutions within Enterprise Information Management (EIM) that facilitate efficient, secure, and compliant exchange of information inside and outside of organizations, helping to drive digital transformation throughout the supply chain and global payments ecosystem.
About OpenText OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, on-premises or in the cloud. For more information about OpenText (NASDAQ: OTEX,TSX: OTEX) visit 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 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 obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.