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Open Texts Records Management Solutions Rated “Strong Positive” in Leading Analyst Firm Report
Monday 23. June 2008 - Highest Possible Rating Among Vendors in Comprehensive Report
Open Text Corporation (NASDAQ: OTEX, TSX: OTC), a global leader in enterprise content management (ECM), today announced that it has received the highest rating possible, a “Strong Positive,” in analyst firm Gartners 2008 “MarketScope for Records Management,” report published on May 20, 2008 and authored by Kenneth Chin. Gartner analyzed records management market and software products from 11 major vendors.
In its review of the records management market, Gartner forecasted a strong five-year compound annual growth rate (CAGR) of 25 percent between 2008 and 2013, pegging the market today at about USD $400 million in 2007 revenue, an increase of 30 percent from 2006. Gartner sees strong demand from large enterprises, but also from government and midsize organizations over the forecast period. Compliance, regulatory and legal/discovery issues continue to be important in organizations need for records management solutions.
Among trends in the report, Gartner cited continued consolidation of vendors and the bundling of records management products with enterprise content management and archiving systems. Last fall, Open Text announced Enterprise Library Services (www.opentext.com/news/pr.html?id=1951), which integrates its leading records management software with metadata management, archiving and storage management for content across a range of systems including SAP solutions, Microsoft Office SharePoint Server, email, file systems and Open Text ECM solutions.
Strong Positive Rating
Gartner considers vendors receiving a “Strong Positive” rating to be “a solid provider of strategic products, services and solutions,” and suggests that existing customers “continue investments,” while potential customers “consider this vendor a strong choice for strategic investments.” Vendors are rated along a five-step scale: Strong Positive, Positive, Promising, Caution and Strong Negative. Gartner evaluates how each vendor measures against criteria for the records management market.
“The culture of compliance that has weighed on the minds of senior management for the last few years continues in this era of electronic discovery and litigation readiness,” said Peter Lipps, Vice President & General Manager, Enterprise Records Management Business at Open Text. “The retention policies, extended metadata management and security of content delivered by Records Management software play a central role in giving companies the controls they need, as the source and form of corporate content evolves in the increasingly collaborative global enterprise. We believe that Gartners Strong Positive rating confirms our leadership in records management. Open Text is committed to delivering superior records management and compliance offerings, so that customers will have the tools they need to meet not only the challenging legal and regulatory requirements they face, but also to ensure consistency of retention and capture practices even as innovative new content creation tools are adopted by Web 2.0 savvy business users.”
Open Text is a worldwide leader in records management, offering the industrys most comprehensive set of solutions to extend records management across the full range of content types stored in multiple systems, including SAP, SharePoint, email, instant messaging, file systems, and Open Text content repositories. Open Texts records management solutions are certified as compliant with the U.S. Department of Defense 5015.2-STD requirements, United Kingdoms TNA regulations and Australias VERS regulations, all key standard for records management software used in corporations and governments.