Artificial Intelligence

BigCart Brings Electronic and Early Payments to the OpenText Business Network

BigCart , a FinTech company that provides a broad portfolio of innovative, secure B2B electronic payment solutions, today announced a strategic partnership with OpenText (NASDAQ: OTEX), (TSX: OTEX), a leader in information management, on a globally integrated supply chain information platform for small to medium-sized companies and middle-market suppliers.

BigCart's payment solutions will now be offered to the OpenText Business Network, giving more than 1.1 million trading partners the opportunity to accelerate cash flow and reduce finance costs for suppliers. This offering is a brand-new option for those companies operating under BigCart's system, bringing payment flexibility, all while paying suppliers in a fraction of the time.

"Working with BigCart, the first of our funding partners, OpenText is securely offering our entire trading partner community the ability to source alternative funding opportunities through custom solutions, saving them both time and money," said Ted Harrison, EVP Global Sales at OpenText. "Building on OpenText clients' existing applications, this new offering can help our partners ensure financial health for their supply chain and strengthen their relationships with suppliers, something we are working to offer even more of for the mid-market in the future."

Unlike traditional supply chain finance solutions, BigCart's unique financing solution is geared towards small and medium-sized enterprises (SMEs), minority business enterprises (MBEs), and middle-market suppliers and does not demand a buyer guarantee. These new secure B2B electronic payment solutions analyze existing data through the OpenText Active Access Portal , a secure, collaborative portal for users across the business ecosystem, creates relevant offers to support suppliers and is automatically deployed with little involvement from either buyers or suppliers. These offerings enable all suppliers to access low-cost accelerated cash flow.

"Our goal for any client is to make money easily accessible," said Rodney Schansman, CEO of BigCart. "Because OpenText already does so much to help their network of customers organize, integrate, and protect their data, our payment solution was an easy add-on. The OpenText Active Access portal is a natural fit for us, and we expect any OpenText enterprise client who signs on to use BigCart to see an immediate impact on their bottom line."

About BigCart

BigCart is a FinTech company that provides a broad portfolio of innovative, secure B2B electronic payment solutions. Founded in 2021, BigCart's goal was to simplify the outdated methods of traditional supply chain finance that no longer suit today's business needs. By leveraging vast amounts of data, BigCart's custom payment solutions help buyers and suppliers streamline financing and gain access to the most competitive financing options available.

Elizabeth Lampton, elampton@bigcart.io

News Provided by Business Wire via QuoteMedia

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OpenText Announces Voting Results for Election of Directors

Open Text Corporation (NASDAQ: OTEX, TSX: OTEX) confirmed today that each of the 11 nominee directors listed in its management proxy circular dated August 4, 2022 were re-elected by shareholders at its Annual Meeting of Shareholders (the "Meeting") held virtually today. The detailed results of the vote for the election of directors at the Meeting are set out below. Shareholders holding 225,160,163 common shares representing 83.45% of the outstanding common shares were present or represented by proxy at the Meeting.

OpenText logo (PRNewsfoto/Open Text Corporation) (PRNewsfoto/Open Text Corporation)

On a vote by ballot, each of the following nominees proposed by management was elected as a director of OpenText to serve until the next annual meeting of shareholders of OpenText or until their successors are duly elected or appointed:


Votes For


Votes Against

P. Thomas Jenkins

205,740,805

92.46 %


16,782,767

7.54 %

Mark J. Barrenechea

217,866,429

97.91 %


4,657,143

2.09 %

Randy Fowlie

209,311,894

94.06 %


13,211,678

5.94 %

David Fraser

219,923,861

98.83 %


2,599,711

1.17 %

Gail E. Hamilton

199,811,958

89.79 %


22,711,614

10.21 %

Robert Hau

221,151,792

99.38 %


1,371,780

0.62 %

Ann M. Powell

208,892,602

93.87 %


13,630,970

6.13 %

Stephen J. Sadler

212,414,315

95.46 %


10,109,257

4.54 %

Michael Slaunwhite

189,163,269

85.01 %


33,360,303

14.99 %

Katharine B. Stevenson

212,102,679

95.32 %


10,420,893

4.68 %

Deborah Weinstein

186,142,603

83.65 %


36,380,969

16.35 %

The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed on SEDAR ( https://www.sedar.com ) and Open Text's Form 8-K filed on EDGAR ( https://www.sec.gov/edgar.shtml ), each of which were filed on September 15, 2022 .

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 .

OTEX-F

Copyright ©2022 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved. For more information, visit:

http://www.opentext.com/who-we-are/copyright-information .

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/opentext-announces-voting-results-for-election-of-directors-301625851.html

SOURCE Open Text Corporation

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