Corel Power Clip is pretty cool:
Put your image and text on the page
Dropping an Background Image Into a Shape
Corel Power Clip is pretty cool:
Put your image and text on the page
Select your image and go to Effects>Power Clip>Place Inside Container
Then choose your container, text in this example
et voila!
It's really just a shortcut to producing a clipping mask effect, so older versions of Corel & Illustrator will use the clipping mask tool.