Customers Expand Their Horizons with OpenText Cloud Editions 24.2
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OpenText’s unveiling of Cloud Editions (CE) 24.2, with its emphasis on AI integration, places the company at the forefront of a pivotal shift in business technology. The synergy between data governance, AI-assistants and efficient cloud data platforms positions OpenText to capitalize on the increasing demand for advanced AI capabilities in information management.
As businesses continue to migrate to the cloud, products like OpenText Experience Cloud and Business Network Cloud could see considerable adoption, potentially increasing market share in these segments. The integration with major platforms such as Oracle NetSuite and Microsoft Dynamics 365 indicates strategic partnerships that could enhance OpenText's visibility within enterprise ecosystems.
With 80% of organizations investing in generative AI, OpenText's timely focus on this technology aligns with market trends. However, it is pivotal to monitor customer reception and actual efficacy of these AI-driven solutions, as the market is inundated with burgeoning AI technologies and only those that deliver tangible benefits tend to sustain their competitive edge.
The financial implications of OpenText's CE 24.2 for investors hinge on the company's ability to convert technological advancements into revenue streams. The accelerated 90-day innovation cycles demonstrate the company's commitment to R&D, which could translate to increased operational costs in the short term but positions OpenText for long-term growth if these solutions gain traction.
Robust solutions such as OpenText Aviator, which is integrated across multiple OpenText products, highlight a potential for cross-selling opportunities. This unified approach to product development could enable cost efficiencies and customer retention, contributing positively to the company's gross margin over time.
Investors should be attentive to the adoption rates and customer feedback on the new offerings. If OpenText manages to secure a significant number of contracts and partnerships, it could reflect positively in the coming quarters' financial results. Nevertheless, investors should be aware of the competitive landscape, as OpenText is not alone in exploring the AI arena within information management solutions.
The introduction of OpenText's Cybersecurity Cloud innovations and their focus on trust and governance is a strategic move as cybersecurity remains a critical concern for businesses globally. Advanced features in OpenText Fortify and the integration of NetIQ and Magellan for better identity intelligence signify an elevation in security offerings.
By embedding generative AI into cybersecurity tools, OpenText could create new industry standards in proactive threat anticipation and defense. However, the effectiveness of these AI-enhanced security measures must withstand rigorous testing against evolving cyber threats to maintain customer confidence.
The long-term business impact hinges on OpenText's capacity to maintain a robust security posture for its clients, which is a strong selling point in today's risk-laden digital landscape. Security enhancements may also justify a premium pricing strategy, contributing to increased average revenue per user (ARPU). Ultimately, the ability to blend high-tech AI solutions with stringent security measures is likely to become an industry benchmark and OpenText’s efforts in this direction may prove to be a notable competitive differentiator.
Company unveils its latest information management solutions, powered by AI and designed to catalyze business transformation through reimagining the way work is approached
Titanium X is OpenText's strategic product roadmap to be delivered by CE 25.2. The three areas of innovation are:
- Business Clouds: Knowledge with security can be a competitive advantage for our customers in modern work and business fabrics. OpenText sets out to elevate everyone – from engineers to IT – with integrated and secure technology to drive meaningful simplification and efficiencies.
- Business AI: Data governance, compliance, and authentication are table-stakes today. OpenText is applying generative AI to power customers to get more out of their IP. With AI-assistants that run across large private data sets, the right people get the right information.
- Business Technology: Connected data is an imperative and prerequisite as workloads continue to shift to cloud. OpenText is focused on bringing customers enterprise-strength data platforms deployed anywhere in any way – private cloud, public cloud, or through APIs.
As AI continues to shape our world, trust and governance is essential for fostering confidence in AI technologies. With
"As organizations navigate their Cloud, Security and AI journeys, establishing trust in data integrity is paramount and at the center of what is required," said Muhi Majzoub, EVP and Chief Product Officer, OpenText. "With CE 24.2, we are delivering against our 90-day innovation cycles to bring advancements in our Business Clouds, Business AI, and Business Technology. OpenText solutions bring knowledge and empowerment, equipping our customers and partners with the tools and data insights needed to navigate these journeys effectively, regardless of the challenges they face."
Business Clouds
New offerings in OpenText Business Clouds 24.2 include:
- OpenText Experience Cloud – OpenText Core Journey is now available to help customers better strategize, design, and execute customer communications effectively at scale for onboarding, compliance, and retention experiences.
- OpenText Business Network Cloud – OpenText Trading Grid is now integrated with Oracle NetSuite and Microsoft Dynamics 365 to enable mid-sized enterprises to seamless manage connections across vendors.
- OpenText DevOps Cloud – OpenText Application Lifecycle Management is now integrated with SAP cloud to enable customers to speed up testing and accelerate SAP release cycles.
- OpenText IT Operations Cloud – OpenText OpsBridge has new open telemetry capabilities for application observability to drive better monitoring and real time insights across IT estate.
- OpenText Cybersecurity Cloud – OpenText Fortify has a refreshed user experience for developers to seamlessly perform code vulnerability checks and security measures. OpenText NetIQ and OpenText Magellan is now integrated for better identity intelligence management.
Business AI
New offerings in OpenText Aviator include:
- OpenText™ Content Aviator is an intelligent assistant that simplifies information retrieval with conversational search, content summaries, and translation features. Now integrated with OpenText Core Content, Extended ECM, and Documentum, it automates content and workspace analysis, boosting workflow efficiency and knowledge reuse without having to move the data.
- OpenText™ IT Operations Aviator, a private generative AI virtual assistant, is now integrated into OpenText™ SMAX. Formerly exclusive to ITSM users, this advanced service management solution now extends support to service desk agents. With an AI agent capable of summarizing incoming tickets and offering solutions, agents can resolve issues more efficiently to heighten user satisfaction, improve productivity, and mitigate staffing challenges.
- OpenText™ Operations Bridge with Aviator adds a private intelligent assistant, powered by generative AI, that empowers every troubleshooter with a simple guided search interface to find the relevant information and resolution steps quickly. By combining Aviator AI capabilities with Operations Bridge automation, organizations can deliver uninterrupted service and improve performance with less resources.
- OpenText™ DevOps Aviator now empowers developers and testers with a simple, embedded conversational search with an Ask-me-anything AI assistant. As end-to-end software quality assurance becomes mission critical for large banks, auto manufacturers, biotech firms, and more, customers can now much more easily gain insights and pursue functional and performance testing faster with OpenText ValueEdge.
- OpenText™ Experience Aviator is now available on OpenText Exstream and TeamSite, integrating generative AI to enhance web and customer communication experiences. This update empowers customer experience leaders to maximize customer lifetime value and auto-generate relevant personalized customer material at scale.
- OpenText™ Axcelerate™ with Aviator is a new comprehensive Axcelerate eDiscovery solution designed to streamline legal investigations and inform case strategy effectively. The latest introduces generative AI capabilities, empowering legal departments and law firms to identify and summarize crucial documents and concepts swiftly and accurately. This enhancement aims to expedite investigations and review processes, ensuring timely and informed decision-making.
Business Technology
New offerings in OpenText™ Aviator Platforms 24.2 include:
- OpenText™ Aviator Core Analytics Database is a new SaaS enterprise-level data lake house that merges the power of OpenText Vertica's advanced database with the flexibility of a multi-tenant platform. The new offering provides users with self-service insights, fostering better decision-making capabilities while lowering total cost of ownership and carbon footprint.
- OpenText™ Aviator Search now offers revolutionary capabilities in information extraction and enrichment across file formats, bolstered by advanced security features like generative AI and large language models. With CE 24.2, users can now access enhanced conversational functions, enabling seamless information retrieval. This update also empowers users to pinpoint answer origins and validate them across data sources, delivering heightened accuracy and efficiency.
- OpenText™ Aviator IoT introduces traceability, authentication, and an out-of-the-box data lake for IoT event data that enables users to track and manage all types of high value assets for their business. OpenText™ Aviator IoT offers end to end visibility designed to elevate data consistency and transparency while enhancing operations in supply chain and asset management.
- OpenText™ Aviator Thrust Studio introduces a real-time digital assistant designed to support developers throughout the application-building process. Now, developers can use an early access version of OpenText™ Aviator Thrust Studio within VS Code to assist in generating code that utilizes our Thrust APIs. This intelligent assistant streamlines development tasks, enhancing productivity and efficiency.
Availability
As a part of the quarterly OpenText Cloud Editions releases, customers benefit from new AI capabilities every 90-days. For more information on availability or to join a beta program for future innovations, contact OpenText.
Additional Resources:
- For further insights into the latest release, please visit our Chief Product Officer's blog post.
- Learn more about OpenText's AI strategy at opentext.ai.
- Watch the OpenText World Europe 2024 keynote live here.
About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com
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OpenText CEO Mark Barrenechea's blog
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. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. 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. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website (https://investors.opentext.com). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.
Copyright © 2024 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.
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