OpenText Managed Services and Active Invoices with Compliance (AIC) Enable the Music Company to Handle a Significantly Higher Volume of B2B Transactions
WATERLOO, Ontario, May 24, 2016 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX, TSX: OTC), a global leader in Enterprise Information Management (EIM), today announced that Warner Music France, the French entity of the Warner Music Group, the world's third largest music company, has strengthened its partnership with OpenText to manage critical B2B information flows with its global retailers.
A long-standing OpenText customer, Warner Music France processes more than 70% of all B2B transactions with large retailers via the OpenText Business Network. In March 2016, the company saw a 250% increase in transactions from two of its largest trading partners.
Warner Music France looked to OpenText to handle the significant increase in B2B transactions with a secure trading platform to streamline and automate order-to-cash processes critical to the efficient management of the organization. In addition, Warner Music France has deployed OpenText Active Invoices with Compliance, a single solution to support e-invoicing processes and maintain tax compliance for electronic invoicing.
"Our main goals were to automate orders entries processing, provide greater visibility into orders flows and avoid errors and litigations by eliminating manual data entry," commented Jacques Prost, CIO, Warner Music France.
By standardizing and outsourcing all the transactions in France using OpenText B2B Managed Services, Warner Music France has:
- Streamlined B2B information exchange, resulting in increased speed and reduced costs for the business.
- Provided a high-quality service to customers by responding quickly to retailers' specifications and connectivity needs.
- Increased visibility and tracking of order flows with real-time monitoring of business transactions.
- Achieved goals in terms of reduced costs and time by removing paper and manual activity from invoice processing.
"With highly-scalable OpenText Business Network solutions, we can now easily manage the increase of orders, secure B2B transactions with standardized messages and solve the complex integration of new partners which is crucial for our business and growth," explained Mr. Prost.
OpenText B2B Managed Services leverage OpenText™ Trading Grid™, a powerful cloud-based B2B integration network for enterprises to connect to their business partners quickly, securely and efficiently. OpenText Trading Grid is highly scalable and can manage the digital business for an entire multi-national B2B ecosystem or handle a smaller subset of selected projects, regions, or trading partner relationships. Part of the OpenText Cloud, OpenText Trading Grid allows companies to exchange documents using EDI, XML, fax, and email to automate purchase-to-pay business processes. The OpenText Cloud processes over 18 billion transactions per year for more than 65,000 customers around the world.
OpenText Business Network is a key element of the OpenText EIM strategy, enabling organizations to discover and manage information to spur growth and innovation and decrease time to competitive advantage
OpenText enables the digital world, creating a better way for organizations to work with information, on premises or in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTC) 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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SOURCE Open Text Corporation