Old World Industries Transforms Accounts Payable with OpenText

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), announced Old World Industries (OWI), a global supplier for the automotive and chemical industries, modernized their accounts payable (AP) processes with OpenText solutions. Implemented during the pandemic and a rapid shift to remote work, OWI improved AP processing time by 33%.

Best known for their PEAK® Performance brand of motor oil and antifreeze, OWI manages over a dozen leading consumer and commercial brands across 62 countries. The company needed to streamline their paper-based, AP process and eliminate the complexities associated with manual entry, compliance checks, and tracking. They sought a solution to complement their existing SAP® S/4HANA Enterprise Resource Planning (ERP) platform and implemented OpenText™ Vendor Invoice Management for SAP® Solutions just as the COVID-19 pandemic forced a major shift to remote work.

“Timing couldn’t have been more perfect to enable us to keep our business processes moving forward in a complete remote working environment,” said Donna Markey, Automotive Controller for Old World Industries. “We eliminated piles of paper and email backlog. More than 100 staff members have the tools they need to access and process invoices with ease and immediacy, reducing our cycle times which helps us eliminate late fees and focus more on validation and issue resolution.”

OpenText Vendor Invoice Management for SAP Solutions empowers digital procure-to-pay and order-to-cash business operations, such as accounts payable. The solution automates and optimizes the process of receiving, managing, and monitoring business critical documents for internal teams and external partners, customers, and vendors. With this solution, organizations can:

  • Accelerate invoice processing through rapid invoice data capture and automated routing
  • Increase ROI by reducing invoice cycle times and eliminating late fees
  • Improve productivity through intelligent automation
  • Ensure compliance through defined business processes and a documented audit trail

OWI added artificial intelligence including advanced document and character recognition capabilities of OpenText™ Intelligent Capture for SAP® Solutions to extract data from paper-based invoices and provide deep insights. Markey added, “As a result we are able to bypass manual data entry steps and focus on value-added tasks like analyzing relevant data and trends to better understand our vendors.”

“The pandemic forced many organizations to speed up their automation and digital business investments,” said Muhi Majzoub, Chief Product Officer at OpenText. “OpenText solutions empower OWI to not only keep critical business operations running smoothly and minimize disruptions caused by the pandemic, but also significantly improve the speed of their AP processes.”

OWI worked with OpenText Professional Services to implement the solution, successfully completing the project while working remotely.

To learn more about OpenText™ SAP® Solutions visit, https://www.opentext.com/products-and-solutions/products/opentext-suite-for-sap

Read the customer story here.

About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com

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Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText’s assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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MPC & Sterling Industries along with CAPPEM To Send Protective PPE To The Carribean Island of St Vincent

Oro Medonte, ON – MPC, along with its Sheild-U manufacturing partner Sterling Industries, are doing their part to help those in need abroad. As a member of the Canadian Association of PPE Manufacturers (CAPPEM) we welcomed the opportunity to donate over 10,000 Shield-U face shields to help the humanitarian crisis caused by volcanic eruptions on the Caribbean island of St Vincent, alongside the total CAPPEM member donation of PPE products.

“Our hearts are broken for the people of St Vincent,” said David Yeaman, President and Owner of MPC. “The crisis on the island of St Vincent could last for several months, or even a year. We know that their resources and their front-line workers are already stretched to the limit right now. We hope our face shields can help in any way possible.”

Recently, in an effort to ensure that Canada’s hardworking front-line workers have consistent access to reliable PPE, Molded Precision Components (MPC) has partnered with the Canadian Association of PPE Manufacturers (CAPPEM).

“Canadian-manufactured PPE has to adhere to very high standards of quality control. And Canadian workers deserve Canadian-made goods,” said CAPPEM President, Barry Hunt.
“We are thrilled to partner with MPC, a proudly Canadian company that manufactures PPE to the highest standards.”

MPC, a leading automotive parts manufacturer in Canada, quickly added operations to add a new focus on PPE production during the covid pandemic and started to manufacture the Shield-U face shield. As a result, they were able to create over 75 valuable new jobs in the Barrie/Oro Medonte community.

Over the last 14 months, MPC has manufactured an estimated 35 Million face shields for various provincial and national contracts to help keep Canadians safe.

About MPC
Molded Precision Components (MPC) is a 135-person firm located north of Toronto, Ontario, that provides manufacturing excellence in the automotive space, making engineered automotive components such housings, bearings, cable-end fittings and tight tolerance plastic gears. They have accelerated medical component and device manufacturing to their capabilities already making much-needed PPE for frontline workers as well as other innovative medical.

Necessity has been the mother of innovation, as their nimble team has learned to use materials that are compliant with ISO 10993, an international standard for medical devices that ensures the product can come into contact with the human body without adverse reaction. They expect full ISO13485 recognition in early 2021, while also commissioning a brand new 45,000 sq/ft facility to extend their capacity.

About CAPPEM
CAPPEM was created to ensure that Canada would never again be vulnerable to shortages of PPE during a time of pandemic or otherwise.

In one year, CAPPEM members have established a robust and secure domestic supply chain that can supply the needs of Federal, Provincial and Municipal governments as well as health and other essential services in private and not-for-profit sectors.

About Sterling Industries
Sterling Industries is a North American-based contract manufacturer and assembler of medical devices and sub-components, with facilities in Kalamazoo, Michigan and Toronto, Ontario.

They help their clients deliver successful products by providing scaled production, design-for-manufacturing expertise, supplier consolidation and other critical value chain services.

Shri Prakash Javadekar, Hon’ble Minister of Environment, Forest and Climate Change, Information and Broadcasting, Heavy Industries and Public Enterprise, Government of India Flags off of DEMU Train from Phaltan to Pune via Lonand

Shri  Prakash Javadekar, Hon’ble Minister of Environment, Forest and Climate Change, Information and Broadcasting, Heavy Industries and Public Enterprise, Government of India flagged off DEMU train from Phaltan to Pune via Lonand on 30.3.2021 through video conferencing.  

Shri Shamrao alias Balasaheb Patil, Hon’ble Minister of Cooperation and Marketing, Government of Maharashtra and Guardian Minister of Satara District, Shri Ranjeetsingh Naik Nimbalkar, Hon’ble MP (Lok Sabha), Shri Girish Bapat, Hon’ble MP (Lok Sabha), Shri Shriniwas Patil, Hon’ble MP (Lok Sabha), Shri Chhatrapati Udayanraje Bhonsle, Hon’ble MP (Rajya Sabha), Shri Chandrakant (Dada) Patil,, Shri Sunil Kamble, Hon’ble MLAs and Smt. Neeta Nevase, President, Municipal Council, Phaltan joined through video link on the occasion.  Shri Suneet Sharma, Chairman and Chief Executive Officer, Railway Board, Shri Punendru Mishra, Member (O & B D), Railway Board, joined from New Delhi.  Shri Sanjeev Mittal, General Manager, Central Railway from CSMT Mumbai welcomed the gathering.

Shri Prakash Javadekar while speaking on the occasion said that under the guidance of Shri Piyush Goyal, Hon’ble Minister of Railways, Commerce and Industry, Consumer Affairs, Food and Public Distribution, sweeping changes are visible in Railways. Introduction of Bio-toilets have made the tracks and station platforms clean. It is an ideal example of Swachh Bharat. 

He also mentioned that under the Hon’ble Minister of Railways, Shri Piyush Goyal’s leadership simplified reservation on IRCTC have helped passengers to get tickets faster. Infrastructural inputs like elimination of unmanned railways crossings to ensure safety of highest standards, progress of electrification, doubling, port connectivity in railways have helped to boost economy and growth. More than 5000 Railway stations have been provided with wi-fi which enable passengers to access world wide web and opened their horizon of knowledge.

Phaltan-Pune DEMU Train –

 Background

•           Introduction of trains between Phaltan and Pune via Lonand will help the people of this region in general and agriculturists to reach new markets, students to reach educational institutions of their choice & workers to seek more green pastures in particular.

•           Railways, being the cheapest mode of transport and the direct connectivity between Pune to Phaltan via Lonand will be a boon to the region.

•           Further, residents of Phaltan will get direct passenger train connectivity from Phaltan to Pune & back.

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DJN

(Release ID: 1708503)
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