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Home Trust Company Selects OpenText To Support Expansion And Increase Operational Efficiencies

Stocks in this article: OTEX

Leading Canadian Financial Institution Turns to OpenText for Managing its Digital Document Environment and Boosting Customer Experience

WATERLOO, ON, Aug. 13, 2012 /PRNewswire/ - OpenTextâ„¢ (NASDAQ: OTEX, TSX: OTC) today announced that Home Trust Company, a wholly owned subsidiary of  Home Capital Group Inc. (TSX: HCG) and one of Canada's largest federally regulated trust companies, has selected OpenText to support the company's future growth strategy and operational excellence and efficiency initiatives. By deploying OpenText's leading Enterprise Information Management (EIM) solutions, Home Trust will completely digitize the over five million documents it receives per year and streamline its internal loan application processes.

Home Trust will replace its current scanning and document management point solutions with a strategic platform based on OpenText Extended ECM for use with SAP® solutions and OpenText Capture Center. By deploying these solutions from OpenText, Home Trust plans to reduce administrative costs associated with manually filing paper documents and increase productivity by automating key processes, ensuring rapid and ready access to information assets. OpenText Extended ECM's integration with SAP solutions, a key factor in Home Trust's selection of OpenText, will help the company to expand its information management system as its business grows.

"OpenText's proven enterprise information management and Capture Center solutions will enable us to significantly improve our content management processes, speed our response times to customer inquiries, and support future initiatives based on its tight integration with SAP solutions," said Dinah Henderson, vice president of operations, Home Trust. "We are excited about this initiative and look forward to working with OpenText in implementing a completely digitized environment that will provide the ease and flexibility we require as our business expands."

OpenText Capture Center uses advanced document and character recognition capabilities to turn documents into machine-readable information. Capture Center will enable Home Trust to capture the data contained in scanned images and faxes, and interpret it using OCR, ICR, IDR, adaptive reading, and other technologies. By using OpenText Capture Center with the information management capabilities of OpenText Extended ECM for SAP solutions, Home Trust aims to reduce manual keying and paper handling, accelerate their business processing, improve data quality, and ultimately boost their customer experience.

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