OpenText to Offer Greater Insights into Quality and Performance of Trading Partners
WATERLOO, Ontario, April 21, 2020 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) today announced that it is integrating the extensive data stores of leading global provider of business decisioning data and analytics, Dun & Bradstreet, into the OpenText™ Trading Grid™ Global Partner Directory, a powerful, consolidated supplier sourcing and onboarding platform.
In today's challenging business environment, it is paramount that organizations create a network of qualified and trusted suppliers and partners. The integration of Dun & Bradstreet data and insights into OpenText's Trading Grid will provide enterprises a single, centralized directory to identify reliable, financially stable trading partners and suppliers, allowing them to strengthen their supply chains to mitigate risk and prevent major disruptions in supply. Businesses will also be able to prioritize ethical, sustainable operations and good corporate governance across supply chains by sourcing trading partners emphasizing these core values.
"Working with trusted suppliers to meet the highest standards of supply chain performance and corporate social responsibility has become a strategic priority for businesses today," said Mark J. Barrenechea, OpenText CEO & CTO. "However, identifying the right business partners has also become more complex. Integrating Dun & Bradstreet's data and insights into OpenText Trading Grid provides our customers with more effective methods of discovering, authenticating and connecting with quality trading partners."
The Trading Grid Global Partner Directory provides access to information on hundreds of thousands of companies doing business on OpenText Trading Grid, the world's largest cross-industry community of supply chain trading partners. OpenText will integrate D-U-N-S Numbers® and metadata into the Global Partner Directory to give businesses a more extensive source of quality corporate data to use in making more informed sourcing decisions. Participating companies will have access to Dun & Bradstreet's Data Cloud, which contains comprehensive information on more than 355 million total businesses worldwide.
The advanced data filters of the Global Partner Directory have been expanded to allow users to search for and monitor companies according to specific attributes such as financial responsibility, fulfillment of supply chain obligations, and compliance with global regulations, including those for diversity and corporate social responsibility. Geography filters help enterprises plan for political unrest and natural disasters in key markets.
"Now more than ever, companies must do business with organizations they can trust as any supply chain disruptions or ethical lapses by suppliers can have significant and long-lasting impacts on revenue, costs, client experiences and brand reputation," said Brian Alster, General Manager, Third Party Risk & Compliance for Dun & Bradstreet. "Dun & Bradstreet has a time-honored tradition of providing our clients with accessible and actionable data and insights to help them turn uncertainty into confidence, risk into opportunity and potential into prosperity. We look forward to integrating our rich commercial data and insights into OpenText's Trading Grid to make it easier for companies to build and maintain quality and productive supply chains."
Once enterprises identify the right suppliers, Trading Grid facilitates rapid connections and collaboration with businesses on the network through self-service capabilities.
To learn more about Trading Grid, visit https://businessnetwork.opentext.com/trading-partner-discovery/.
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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