Combined Solutions Provide More Efficient Document Processes, Speed Compliance with Regulatory Requirements
Chicago and Toronto – September 21, 2005 — Open Text™ Corporation (NASDAQ: OTEX, TSX: OTC), the leading independent provider of Enterprise Content Management (ECM) software, and InSystems Corporation, the specialist in complex document and compliance automation for insurance and financial services companies, said today they will extend their eight-year partnership. The companies will focus on delivering solutions that improve document processes and regulatory compliance for insurance and financial services companies, while speeding time-to-market for their products.
The extension of the partnership will mean enhanced integration of Open Text’s Livelink ECM Solutions with InSystems’ specialized document and compliance automation solutions for insurance and financial services companies. The solutions will address a range of compliance mandates, including regulations for managing information on insurance and financial services products, and requirements for financial reporting. Open Text and InSystems will target insurance and financial services companies in the U.S. and Canada.
With the companies’ combined offerings, customers will gain enterprise-wide solutions for managing all content — Web pages, ERP content, emails, Word documents and more — in accordance with specialized industry requirements. Compliance requirements for information can be extended consistently across all content, while improving the efficiency of operations and reducing costs.
“Improving time-to-market is a top concern for insurance and financial services companies facing growing regulations for the information they maintain on their products and services,” said Joseph McLaughlin, Senior Vice President of Global Partners at Open Text. “This combined with other regulations and the complexity of processes in the industry presents a real challenge for these customers. By combining our broad ECM capabilities with InSystems’ specialized document and compliance automation solutions, we can address these complexities in ways that allow customers to be both compliant and competitive.”
“A key part of our strategy is partnering with leading ECM software providers. Over the last eight years, we have achieved the deepest integration and most successful customer set working with Open Text,” said Neil Betteridge, Vice President of Marketing at InSystems. “We look forward to many more years of joint success.”
Through the partnership, InSystems’ Calligo and Tracker product lines have been fully integrated with Open Text’s Livelink ECM. Livelink ECM provides key services underlying InSystems solutions’ unparalleled breadth of support for accelerating insurance product development and state regulatory filing processes. The platform delivers the increased functionality and utility to insurance and financial services organizations. Open Text’s deep experience in integrating ECM offerings with existing IT frameworks makes its technology a perfect match with InSystems’ leading, industry-specific document and compliance automation technology. InSystems’ customers, who currently reap the benefits of automating complex document processes such as policy fulfillment, can now extend those deployments with additional capabilities such as production imaging and business process management.
As part of the partnership, the companies will work together to identify additional solutions for insurers, combining both companies’ technologies, and expand joint sales and marketing efforts.
InSystems specializes in complex document and compliance automation for insurance and financial services. Its software solutions allow organizations to achieve operational excellence by automating the creation, management and multi-channel distribution of customized documents, and streamlining the product development and regulatory filing processes. InSystems’ solutions give business users more control, with less dependence on IT resources. These solutions are developed, delivered and supported by a team with specialized knowledge and experience. InSystems (www.insystems.com) has more than 350 insurance customers, including over 50 of the 100 largest insurance groups in North America. InSystems, founded in 1989, is a subsidiary of Standard Register (www.standardregister.com) a $1 billion provider of information solutions.
About Open Text
Open Text™ is the leading independent provide of Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Today, the company supports 20 million seats across 13,000 deployments in 114 countries and 12 languages worldwide. For more information on Open Text, go to: www.opentext.com