Mar 9, 2016
On March 7-8, OpenText’s Innovation Tour 2016 took place nearby Munich, Germany. This user conference, part of a global series of events held in five cities around the world, hosted more than 750 participants. The conference featured keynote speeches, several customer and partner presentations, and breakout session focusing on a variety of topics around the digitalization of the enterprise – all focused on this year’s theme of Enabling the Digital World.
In his keynote, Mark Barrenechea, CEO and CTO of OpenText, talked about the digital enterprise revolution, the importance of enterprise information management (EIM), and their next generation EIM platform: Release 16. Here are the key take-aways from his keynote.
Information as the New Currency
Mr. Barrenechea spoke about the massive amount of information that is generated today and that will continue to explode in coming years. Many successful businesses today have built business models around the economy of data. Customer are being rewarded in exchange for their data and consumers will expect something in return for providing that personal data. Data analytics is a key technology to leverage for not only deciphering value from the troves of personal data but also for monetizing it.
A New Workforce
According to Mr. Barrenechea, 50% of the workforce will be millennials by 2020. Businesses need to deal with a new type of employee who is socially minded, very self-aware, technology-centric, loyal to herself, and not bounded to her job. Accommodating this new type of employee involves rethinking talent management and knowledge management. Automation, connectivity, and analytics will drive change in these areas of information management.
To ensure you are doing the things right, businesses are turning to their existing data and try to answer questions like what, how, and why from their existing data. Doing the right things, however, involves the question what is next? Cognitive computing and analytics are key technologies that help businesses to answer that question. Mr. Barrenechea discussed the example of optimizing business resources by using cognitive computing and analytics for smart load balancing of these resources across the many business processes that run simultaneously.
Release 16 consists of OpenText Suite 16 and OpenText Cloud 16. This is the biggest release in the company’s history and will be available later this month. OpenText Suite 16 offers four packaged solutions that address four key areas of EIM: content management, process management, customer experience management, and data analytics. These solutions will be available on-premise, as a hybrid model, or in the cloud.
Through its cloud-based platform, OpenText Cloud 16, the company offers these solutions as a subscription or as a managed cloud service. “A subscription economy, where everything is available as a subscription, is not the future, it is the common”, said Mark Barrenechea during his keynote, emphasizing the importance of offering its solutions on a subscription basis. Organizations can also build mobile business solutions using OpenText’s AppWork developer platform.
Data analytics is a crucial technology in the digital revolution and OpenText appears to be focused on delivering solutions for enterprises to make sense of their data. The Actuate acquisition (early 2015) is paying off for OpenText as they managed to integrate Actuate’s analytics technology very well throughout their whole portfolio. Release 16 promises to be very well positioned to take on the challenge of information management during these times of digital disruption.
Associate Director, Customer Engagement Technologies Advisory Services
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