OpenText Uses Amber Road's Export On-Demand Solution for its Export Compliance Program
EAST RUTHERFORD, NJ, February 5, 2015 -- Amber Road (NYSE: AMBR), a leading provider of global trade management (GTM) solutions, announced today that OpenText™ (NASDAQ: OTEX, TSX: OTC), a global leader in Enterprise Information Management (EIM) and Canada's largest software company, is using Amber Road's Export On-Demand solution.
Prior to integrating Export On-Demand, Waterloo, Ontario, Canada-based OpenText relied on a cumbersome, manual export screening process. Now integrated with a variety of software systems across more than 250,000 partners, 360,000 transactions and 100 users, the solution has enabled OpenText to automate restricted party screening of new opportunities, professional services engagements and customer support maintenance renewals, as well as manage restricted products, export licenses and their associated values.
"We needed an export compliance solution to increase product and service time-to-market, enhance export controls and reduce manual checks occurring outside our export compliance office," said Douglas A. Young, Export Compliance Manager & Empowered Official, OpenText Corporation. "We felt that Amber Road had the ideal blend of long-term data security, functional ease-of-use, open architecture and scalability."
Amber Road's Export On-Demand is a subscription-based solution available in a flexible software as a service (SaaS) format that can be quickly deployed and configured. Export On-Demand streamlines and automates compliance processes, including screening potential customers against 298 restricted party lists, determining license requirements, performing export compliance checks and generating international trade documents.
"Amber Road has become a significant component of OpenText's Export Compliance Program. OpenText is now quickly realizing its potential for a return on investment via a more expedient product and service time-to-market, significantly increased regulatory compliance control measures, and an efficient automation process," said Young.
In the near future, OpenText may use Export On-Demand's restricted party screening functionality in its Human Resources function for vetting contractors and new hires.
"OpenText has clearly demonstrated the value of creating and maintaining a solid export compliance program and we are honored to be part of that success," said Jim Preuninger, CEO of Amber Road. "With the complexities of global trade today, OpenText's adoption of export compliance will continue to reap significant returns for the company."
OpenText provides Enterprise Information Management software that helps companies of all sizes and industries to manage, secure and leverage their unstructured business information, either in their data center or in the cloud. Over 50,000 companies already use OpenText solutions to unleash the power of their information. To learn more about OpenText (NASDAQ: OTEX; TSX: OTC), please visit: www.opentext.com.