OpenText™ Trading Grid™ connects enterprise systems, ERP, accounts payable, APIs and supply chain management for operation excellence and a resilient supply chain
WATERLOO, Ontario, April 8, 2020 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX) (TSX: OTEX) today announced the launch of the new OpenText™ Trading Grid™, the world's leading cloud integration services platform. The launch combines multi-enterprise integration capabilities with a modern, microservices architecture as well as industry-leading data visualization from OpenText ALLOY™.
"COVID-19 changes everything, and industries are experiencing massive disruption in their approach to materials, manufacturing and supply chain strategy," said Mark J. Barrenechea, CEO & CTO of OpenText. "Our new OpenText Business Network 20.2 responds to these radical shifts. Our new unified platform solves for this complexity by vertically integrating all aspects of the modern supply chain, including EDI, ERP and new Cloud services and APIs."
Improved integration of business-critical information and services provides companies with greater insight into their operations so they can react quickly in the face of unforeseen disruptions or emergent opportunities."
Today, companies face a new reality of unstable global markets and shifting supplier relationships. In the face of unforeseen supply chain and operational disruption, they need better visibility into multi-enterprise operations, insights into transactions, integrated third-party data sources, and self-service capabilities.
Trading Grid is now the only cloud platform for B2B and A2A integration delivered as a managed service. A single connection to Trading Grid provides a powerful network effect that can reduce time to market, improve operating efficiency, enhance customer experiences, and help comply with regulatory mandates.
"We are seeing a trend where best-of-breed data capabilities are being brought together onto unified platforms to help simplify the complexities of modern data environments," said Stewart Bond, Director Data Integration Software research at independent analyst firm IDC. "A single platform that can normalize data across any source—whether on-premises applications, cloud applications, trading partner systems, and IoT connected devices—is critical for business process visibility and optimization. Technology is only part of the solution in these complex environments, and many leading organizations are also opting for a managed services approach to implementing unified platforms, freeing valuable technical resources to focus on other priority initiatives."
OpenText Delivers a Single unified platform
Trading Grid combines network services, integration services, managed services, and SaaS applications into a single cloud platform. The addition of OpenText Lens to Trading Grid allows users to monitor and manage data flows to improve performance and mitigate risk.
Studies from market intelligence leader IDC show that one in five organizations now have more than 10 integration tools in use. A single unified platform helps enterprises to break data silos between applications and trading partners and integrate data from many disparate sources more quickly. The resulting integrated and normalized data enhances business process efficiency and visibility—driving agility and responsiveness to unforeseen events.
Power of the network with Global Partner Directory
Trading Grid connects customers to a powerful global network of over 1.2 million trading partners spanning multiple industries and business types. Instead of setting up and maintaining separate connections, a single connection to Trading Grid provides instant access to the world's largest commerce platform.
Global Partner Directory provides self-service search, filter and instant connection to enterprises connected to Trading Grid. With data enrichment and survey capabilities, organizations can mitigate risk, build trust, and support corporate values such as ethical sourcing and sustainable supply chains.
Enabling the API economy
The API economy delivers rapid integration with real-time data flows. APIs coexist with many other forms of integration, and Trading Grid fully supports synchronous and asynchronous data flows. The latest Trading Grid enables the API economy with a vast library of pre-built API connectors and solution accelerators.
The addition of Trading Grid Solution Directory and Solution Designer significantly accelerate integrations and time to value with most common business applications, from ERP to analytics, social media to payments, and many others. Trading Grid also features a library of APIs that customer can consume in their own applications.
Powerful Technology-enabled Managed Services Ease Change Management
Technology-enabled managed services provide proven, efficient and repeatable best practices for day-to-day integration management. Businesses can leverage OpenText integration specialists for complex projects to optimize delivery, and they can extend integration capacity on-demand to complete integrations more quickly.
Trading Grid also enhances user control and productivity with new features, including a self-service mapping portal, self-service onboarding, and a new Community Projects portal for managing the full support request lifecycle. With most integration costs derived from change management, not initial set up, managed services are a solution for companies focused on growing their business, rather than managing integration complexity.
To learn more about Trading Grid, visit businessnetwork.opentext.com/b2b-cloud-network.
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.
Copyright © 2019 Open Text. All rights reserved. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text or other respective owners.
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SOURCE Open Text Corporation