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WATERLOO, Ontario - Europcar Mobility Group has chosen OpenText (NASDAQ/TSX:OTEX), a technology company currently trading below its InvestingPro Fair Value with impressive gross profit margins of 76%, to manage its global electronic invoicing requirements across operations in 130 countries, according to a press release statement issued Monday.
The mobility services provider, which manages a fleet of 280,000 vehicles worldwide, will implement OpenText’s e-invoicing solution to process millions of invoices throughout its network of branches while meeting varied tax and compliance standards across different jurisdictions.
Europcar operates through several brands including Europcar, Goldcar, and Euromobil, with a network of more than 9,000 agents globally. The company cited the need for a solution that could handle its extensive invoicing requirements while ensuring regulatory compliance.
"Europcar’s incredible growth and leadership in the mobility space in Europe requires a trusted partner that can deliver on its extensive e-invoicing needs," said Savinay Berry, OpenText Executive Vice President and Chief Product Officer.
The OpenText e-invoicing platform is designed to help companies manage cash flow more effectively by automating manual invoicing processes, improve data visibility by integrating disparate systems, and simplify tax audits through centralized legal archiving.
The announcement comes as global e-invoicing requirements continue to evolve with changing compliance and legal mandates across different countries. OpenText’s solution aims to provide a consistent approach to meeting these varied regulations for multinational operations.
Other companies that have implemented OpenText’s e-invoicing solutions include Staria, Michelin, and Heeros, according to the press release. InvestingPro analysis shows OpenText maintains a "GOOD" financial health score, with additional insights and detailed metrics available in the Pro Research Report, which provides comprehensive analysis of this and 1,400+ other US stocks.
In other recent news, OpenText has launched its Cloud Editions 25.3, a software release that integrates artificial intelligence, cloud capabilities, and cybersecurity features for enterprise customers. This update includes AI-powered tools such as MyAviator, a secure personal assistant for knowledge workers, and DevOps Aviator, which integrates with GitHub Copilot for software development in regulated industries. Additionally, OpenText announced that its Chief Financial Officer, Chadwick Westlake, will step down to become the President and CEO at his former employer, EQB, following the unexpected death of its CEO. Westlake’s departure is scheduled for August 15, 2025, after the company completes its fiscal year-end reporting. OpenText has begun a search for a permanent successor with the help of an executive search firm. In other developments, OpenText has appointed Kristen Ludgate, a former HP executive, to its board of directors. Ludgate previously served as Chief People Officer at HP Inc. and held leadership roles at 3M Company. These recent developments reflect significant changes and initiatives within OpenText.
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