OpenText will be focusing a lot on analytics in the next few months, according to recent comments company Mark Barrenechea made in connection with the Actuate acquisition.
Last night, the Waterloo, Ontario-based software company lived up to that promise by announcing that it was adding analytics to its B2B integration network, Trading Grid. According to a statement from OpenText, the new analytics are for companies that are looking for deeper insight into their business processes and the ability to tweak those process with data rather than guesswork.
A Response to a Need
Trading Grid is the cloud-based integration platform that OpenText has been building out since 2004. The company described the platform as a response to frustration its clients expressed about the time it was taking to build a network connection between business partners, as well as the quality of those connections.
With that in mind, the company began building a hosted business-to-business integration platform that had all the integration muscle clients needed, but was more agile, flexible and easy to deploy than existing solutions.
Trading Grid offers an alternative to the time-consuming, complicated and expensive process of building an in-house B2B integration platform. There is no hardware, storage or databases to acquire and implement. Users can select from a menu of integration services available in the cloud and much of the infrastructure is pre-provisioned.
In addition, OpenText has taken the next step by adding analytics into the mix.
Trading Grid Analytics
Trading Grid Analytics enables companies to access, analyze and view data being exchanged through the Trading Grid to gain actionable business insights.
With what the company calls a simple, intuitive user interface, it provides “track and trace” data to address exceptions and summary data to identify performance trends. Those insights can help businesses be more agile and responsive to changing business needs, "increasing their competitiveness," OpenText claims.
Trading Grid is a core platform in OpenText Information Exchange, a set of solutions within its wider Enterprise Information Management (EIM) portfolio.
When OpenText outlined a five-pillar strategy in 2012, analytics was included as a key technology.