Abbey Chooses Livelink ECM Solution From Open Text.CHICAGO -- UK Financial Giant Moves Information Online for Compliance, Customer Service Needs Open Text(TM) Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). )(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :OTEX OTEX Open Text Corporation (stock symbol) OTEX Orientation Technico-Economique de l’Exploitation ), the world's largest provider of Enterprise Content Management (ECM (1) (Enterprise Change Management) See version control and configuration management. (2) (Error Correcting Mode) A Group 3 fax capability that can test for errors within a row of pixels and request retransmission. ) software, today announced that it has delivered a Web content management solution to manage 100,000 pages of financial giant Abbey's product policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental information online. In just three months, multiple sites were amalgamated a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. to the Open Text solution to help meet compliance standards and improve customer service. Abbey's 25,000 employees now have instant access to its "Bookstore" via the company's intranet. The Bookstore is a database of product policies and procedures that are critical not only to the day-to-day running of the company, but also to ensuring regulatory compliance. This is particularly important to Abbey as corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. codes specify that it cannot sell financial products, such as mortgages, unless the very latest information about the products is made available to the customer. The migration of the Bookstore's complex paper documents was achieved in three months and also included consolidating eight disparate departmental Intranets into one centralized system In telecommunications, a centralized system is one in which most communications are routed through one or more major central hubs. Such a system allows certain functions to be concentrated in the system's hubs, freeing up resources in the peripheral units. . The project was part of Abbey's drive to move from a "hard-copy" culture to an environment where all its product and procedural data is available on a single, Web-based consolidated network. The solution utilizes Open Text's technology, including its Web Content Management capabilities, to simplify content management and enable in-house content authoring. The new, fully automated system includes an audit trail facility that allows Abbey staff to access product specifications from up to five years ago. Staff can instantly check and verify the exact details of a policy or mortgage on the date it was purchased. Peter Greenfield, Online Channels Manager at Abbey, said: "The key strength of the Open Text content management tool is that it allows staff to manage policy and procedures by recording the lifecycle of every piece of information that is raised on an easy to use and intuitive system Intuitive™ system Cybersurgery A proprietary minimally invasive surgical system which provides 3D visualization and translates the surgeon's hand movements into precise microsurgical movements via 8 mm ports. Cf Cybersurgery. ." He added: "We have given the internal Intranet the same look and feel as the Abbey corporate and customer-facing Internet pages - so to the user navigating the system, it is like surfing the Net. Open Text has enabled us to have a single, coherent information The coherent information is an entropy measure used in quantum information theory. It is a property of a quantum state ρ and a quantum channel  John Kirkham, Executive Vice President of Global Sales at Open Text, said: "This project underlines Abbey's status as a leading innovator in hi-tech banking and reputation in setting high IT standards in the financial industry. Thousands of pages of text are now available online, enabling instant updating of mission critical information and giving staff the most positive online experience possible which translates directly to increased customer satisfaction." About Open Text Open Text(TM) is the market leader in providing Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Today, the company supports almost 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. This news release may contain forward-looking statements relating to the success of any of the Company's strategic initiatives, the Company's growth and profitability prospects, the benefits of the Company's products to be realized by customers, the Company's position in the market and future opportunities therein, the deployment of Livelink and our other products by customers, and future performance of Open Text Corporation. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended June 30, 2004. You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change. Copyright (C) 2005 by Open Text Corporation. LIVELINK and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America UNITED STATES OF AMERICA. The name of this country. The United States, now thirty-one in number, are Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, , Canada, the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners. Open Text Corporation (TSX:OTC) (NASDAQ:OTEX) |
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