OpenText Axcelerate Helps UK Agency Expedite Investigations
WATERLOO, Ontario, April 10, 2018 /CNW/ -- OpenText™ (NASDAQ: OTEX, TSX: OTEX), the global leader in Enterprise Information Management (EIM), today announced that the UK Serious Fraud Office (SFO) is using OpenTextTM Axcelerate, an AI-driven eDiscovery and investigations platform, as its next-generation investigations platform. The SFO deployed OpenText Axcelerate to expedite its investigations and save caseworkers time by automating document analysis, enabling them to better focus on the key elements of their investigations.
The SFO leads the UK's fight against serious and complex fraud, bribery, and corruption. Its investigations cross international borders, involve multi-million pound (GBP) losses and huge volumes of data and correspondence across all document types it analyses to determine if criminal activity has taken place.
"AI technology will help us work smarter, faster and be more effective in prosecuting economic crime. Innovations like OpenText Axcelerate will help our investigators to sift through the hundreds of thousands of documents we receive every day and focus on delivering justice sooner, at significantly lower cost," said Ben Denison, chief technology officer at the SFO. "We're committed to constantly improving performance to improve our capabilities and work more effectively, so we turned to OpenText."
OpenText Axcelerate offered the SFO a way to simplify its document review process, quickly capturing, categorizing, and analyzing data through a combination of advanced analytics features and built-in proprietary machine learning algorithms. The platform can help significantly accelerate document review, including for legal professional privilege (LPP), saving the caseworkers valuable time and allowing them to focus on the most relevant and important content. OpenText Axcelerate's ease-of-use further improves investigative efficiency, allowing caseworkers to spend more time on high-leverage tasks.
"OpenText offered us a complete solution, purpose built for advanced discovery and investigation," said Denison. "Allowing our legal teams to work and process data faster is key to holding those involved in economic crime to account. OpenText's solution means our staff spend more time building a case instead of sifting through mountains of data. This was the next stage in our evolution as an organization."
Mark Barrenechea, Vice Chair, CEO and CTO, OpenText, commented, "Advances in AI technology, the ability to review and analyze vast amounts of information, and provide timely and meaningful insights will forever change the way the legal profession operates. The Serious Fraud Office is leading the way in the use of digital technology to investigate economic crimes, and OpenText is excited to partner with them as they look for truly revolutionary ways to use the latest advancements across the organization."
The SFO put its first live pilot project through the Axcelerate platform in June 2017 and, following the completion of a number of other successful pilot projects, will begin managing all new cases via the platform from April 2018.
OpenText will be showcasing the latest advancements in Information Security, eDiscovery, Digital Forensics and Incident Response at the company's annual Enfuse conference, taking place in Las Vegas, NV, 21st to 24th May, 2018.
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.
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For further information: Tim Brook, OpenText, [email protected], http://www.OpenText.com