Open Text’s records management solutions are certified as compliant with the U.S. Department of Defense 5015.2-STD requirements, United Kingdom’s TNA regulations and Australia’s VERS regulations, all key standard for records management software used in corporations and governments.
In its review of the records management market, Gartner forecasted a strong five-year compound annual growth rate (CAGR) of 25 percent between 2008 and 2013, pegging the market today at about USD $400 million in 2007 revenue, an increase of 30 percent from 2006. Gartner sees strong demand from large enterprises, but also from government and midsize organisations over the forecast period. Compliance, regulatory and legal/discovery issues continue to be important in organisations’ need for records management solutions.
Among trends in the report, Gartner cited continued consolidation of vendors and the bundling of records management products with enterprise content management and archiving systems. Last year, Open Text announced Enterprise Library Services which integrates its leading records management software with metadata management, archiving and storage management for content across a range of systems including SAP solutions, Microsoft Office SharePoint Server, email, file systems and Open Text ECM solutions.
Strong Positive Rating
Gartner considers vendors receiving a “Strong Positive” rating to be “a solid provider of strategic products, services and solutions,” and suggests that existing customers “continue investments,” while potential customers “consider this vendor a strong choice for strategic investments.” Vendors are rated along a five-step scale: Strong Positive, Positive, Promising, Caution and Strong Negative. Gartner evaluates how each vendor measures against criteria for the records management market.
“The culture of compliance that has weighed on the minds of senior management for the last few years continues in this era of electronic discovery and litigation readiness,” said Peter Lipps, Vice President & General Manager, Enterprise Records Management Business at Open Text.
“The retention policies, extended metadata management and security of content delivered by Records Management software play a central role in giving companies the controls they need, as the source and form of corporate content evolves in the increasingly collaborative global enterprise. We believe that Gartner’s ‘Strong Positive’ rating confirms our leadership in records management. Open Text is committed to delivering superior records management and compliance offerings, so that customers will have the tools they need to meet not only the challenging legal and regulatory requirements they face, but also to ensure consistency of retention and capture practices even as innovative new content creation tools are adopted by Web 2.0 savvy business users."
Open Text is a worldwide leader in records management, offering the industry’s most comprehensive set of solutions to extend records management across the full range of content types stored in multiple systems, including SAP, SharePoint, email, instant messaging, file systems, and Open Text content repositories.
To read Gartner’s full “MarketScope for Records Management” report, go to: www.opentext.com/bridging/global-rm-leader.html. For more information on Open Text’s records management solutions, go to: www.opentext.com/2/sol-products/sol-pro-records-management.htm.
About Open Text
Open Text, an enterprise software company and leader in enterprise content management, helps organisations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 46,000 customers and millions of users in 114 countries. Working with our customers and partners, we bring together leading Content Experts™ to help organisations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit http://www.opentext.com.
The MarketScope is copyrighted 2008 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.