OPEN TEXT CORPORATION

(OTEX)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Faurecia Streamlines International Procurement Process with OpenText

01/21/2022 | 04:26am EDT

Global company enhances invoice visibility and drives efficiency with OpenText Vendor Invoice Management for SAP Solutions.

OpenText (NASDAQ: OTEX), (TSX: OTEX), today announced, Faurecia, a global leader in automotive interiors and emission control technology, implemented OpenText Vendor Invoice Management (VIM) for SAP Solutions to manage and access high volumes of information and drive efficiency of procurement operations.

Headquartered in France, Faurecia operates more than 300 sites in 35 countries, with close to 115,000 employees worldwide. The company develops automotive technology to advance safe, personalized transportation that is environmentally responsible. Faurecia needed a solution to enhance and standardize key points of its financial process and implemented OpenText Vendor Invoice Management for SAP Solutions.

'The pandemic was a challenge for everybody, and we could not imagine maintaining our accounts payable without implementing OpenText Vendor Invoice Management. For us, this solution was key to our business continuity,' said Salome Silva, Accounts Payable Team Leader and SAP Business Analyst at Faurecia. 'We streamlined our document-centric processes, increased cash visibility, strengthened cross-collaboration, and we're now well equipped to respond efficiently during the pandemic and beyond.'

OpenText Vendor Invoice Management for SAP Solutions streamlines procure-to-pay and order-to-cash operations for SAP customers. By optimizing the process of receiving, managing, monitoring, and routing all invoices, quotations, order confirmations, delivery notes, sales orders, remittance advices and related documentation, Faurecia has successfully digitized 80% of its 2 million annual pieces of financial operations information.

'Many companies were forced to examine their business processes when the pandemic struck,' said Muhi Majzoub, Chief Product Officer at OpenText. 'With the implementation of OpenText Vendor Invoice Management, Faurecia is now able to take advantage of a solution that helps them ensure consistent, accurate, timely and compliant financial payments to all their vendors worldwide.

Digital transformation amplified Faurecia's capacity to manage, access, and use information globally. By connecting information to people, applications, and systems, when and where it is needed, the company continues to reduce manual requirements, enhance collaboration, drive efficiency, and achieve results.

To learn more about OpenText SAP Solutions please read here.

Read the customer story here.

About OpenText

OpenText, The Information Company, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Edi--tions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com

Connect with us:

OpenText CEO Mark Barrenechea's blog

Twitter | LinkedIn

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.

Copyright 2022 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents.

Further information:

publicrelations@opentext.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
FAURECIA SE 1.98% 23.14 Real-time Quote.-44.68%
OPEN TEXT CORPORATION 3.19% 39.48 Delayed Quote.-16.85%
All news about OPEN TEXT CORPORATION
05/09Atturra Acquiring OpenText Partner for $6 Million
MT
05/05RBC Capital Cuts Open Text to US$52, Maintains Outperform
MT
05/05RBC Capital Adjusts Open Text's Price Target to $52 From $62, Maintains Outperform Rati..
MT
05/04OPEN TEXT CORP Management's Discussion and Analysis of Financial Condition and Results..
AQ
05/04Open Text Corporation Reports Earnings Results for the Third Quarter and Nine Months En..
CI
05/04TRANSCRIPT : Open Text Corporation, Q3 2022 Earnings Call, May 04, 2022
CI
05/04OPEN TEXT : Fiscal Q3 Earnings Snapshot
AQ
05/04Open Text Reports Record Q3 Revenue of US$882.3 Million
MT
05/04OPEN TEXT CORP : Results of Operations and Financial Condition, Other Events, Financial St..
AQ
05/04Earnings Flash (OTEX.TO) OPEN TEXT CORPORATION Posts Q3 Non-GAAP Diluted EPS of US$0.70..
MT
More news
Analyst Recommendations on OPEN TEXT CORPORATION
More recommendations
Financials (USD)
Sales 2022 3 498 M - -
Net income 2022 396 M - -
Net Debt 2022 2 573 M - -
P/E ratio 2022 27,0x
Yield 2022 -
Capitalization 10 569 M 10 569 M -
EV / Sales 2022 3,76x
EV / Sales 2023 3,38x
Nbr of Employees 15 000
Free-Float 97,3%
Chart OPEN TEXT CORPORATION
Duration : Period :
Open Text Corporation Technical Analysis Chart | OTEX | CA6837151068 | MarketScreener
Technical analysis trends OPEN TEXT CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Last Close Price 39,48 $
Average target price 55,00 $
Spread / Average Target 39,3%
EPS Revisions
Managers and Directors
Mark J. Barrenechea Vice Chairman, Chief Executive Officer & CTO
Madhu Ranganathan Chief Financial Officer & Executive Vice President
Paul Thomas Jenkins Chairman
Renee Mckenzie Chief Information Officer & Senior Vice President
Randy Fowlie Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
OPEN TEXT CORPORATION-16.85%10 569
ORACLE CORPORATION-21.30%183 116
SAP SE-26.33%113 632
SERVICENOW INC.-33.29%86 805
CONSTELLATION SOFTWARE INC.-15.55%32 715
SENSETIME GROUP INC.-11.64%20 609