Wednesday, March 11, 2009

Safecore, Inc. Launches Powerful Managed Compliance Solution - Seizes Enormous Untapped Market Opportunity in Regulated Industries

Safecore, Inc. Launches Powerful Managed Compliance Solution - Seizes Enormous Untapped Market Opportunity in Regulated Industries

As regulated industries continue to face overwhelming pressure to lawfully retain and manage electronic communications, Safecore, Inc. announced this week that it has launched SafecoreMA, an affordable, integrated, hosted solution that indexes and archives critical corporate message communications and offers proactive surveillance and supervision of e-mail and instant messages (IM).

Medford, MA (PRWEB) October 23, 2004

As regulated industries continue to face overwhelming pressure to lawfully retain and manage electronic communications, Safecore, Inc. announced this week that it has launched SafecoreMA, an affordable, integrated, hosted solution that indexes and archives critical corporate message communications and offers proactive surveillance and supervision of e-mail and instant messages (IM).

Through partnerships with industry leaders, iLumin Software Services, Inc., IMlogic, and Permabit, Safecore integrates state-of-the-art technology that has been successfully tested and deployed by companies in numerous leading organizations. “Before Safecore, only the largest institutions in the U. S. possessed the capital and resources to address business continuance and compliance challenges,” said Ed Gregory, Safecore CEO. “Now, with SafecoreMA, small-to-medium firms can take advantage of a comprehensive and secure hosted solution without making a big, upfront investment or hiring a large team of compliance and IT experts. We’re very pleased that customers are already experiencing the benefits of this new offering,” Gregory added.

“iLumin shares Safecore’s vision of delivering enterprise-class solutions to mid-sized businesses in regulated markets—companies that have no choice but to comply with a growing list of demanding regulations or face large fines and penalties,” said John DeWit, iLumin’s senior vice president of sales. “Large customers have successfully utilized our technology and now with SafecoreMA, mid-sized firms will be able to reach that same level of integrated functionality and ease-of-use that will set a new standard in the managed solution marketplace.”

One of SafecoreMAÂ’s unique advantages is its integrated system that allows authorized users to thoroughly search and review both e-mail and IM histories from a convenient, single interface. SafecoreMA quarantines non-compliant e-mails, preventing delivery until reviewed or post-reviewed; stores transcripts of all IM communications for compliance officer reviews; acts as a secure, long-term communications repository, with advanced cross-archive searching and retrieval capabilities; and dramatically reduces the ongoing cost of e-mail and instant message storage.

"Thousands of small-to-medium regulated businesses are struggling to understand and comply with strict regulations governing the retention of electronic communications, particularly instant messaging," said Dave McFarlane, COO of IMlogic. "The partnership between IMlogic and Safecore, Inc. will bring a market-proven instant messaging archiving and compliance solution to these companies in a flexible, fast, and affordable manner."

"Corporate governances, regulatory mandates and pre and post litigation support are driving businesses to cope with tremendous volumes of data that needs to be converted into non-modifiable records," explained Stephen Ellis, Permabit cofounder and vice president of marketing and business development. "The Safecore solution using Permabit storage compliance technology makes archiving and litigation discovery simple and painless.”

“One World Investments, LP has been very impressed with the SafecoreMA solution and the responsiveness of their team. We assessed the market and selected Safecore because of both the company’s ability to rapidly deploy and the price performance of the solution,” said Dave Dali, principal at One World. “We are confident that Safecore will enable One World to manage its business in a fully compliant manner in the future,” Dali added.

“More than 1,000 petabytes of data will be retained this year by organizations to meet internal corporate governance policies and comply with regulations,” commented Brian Babineau, an analyst with Enterprise Strategy Group (ESG), a Milford, Massachusetts-based IT analyst firm. ESG research indicates that retention requirements will become more strict and retention periods will become longer. “It is going to be extremely difficult for organizations to procure and maintain technology infrastructures to archive electronic message communications,” added Babineau. “The SafecoreMA service is a welcomed relief for those companies that face fiscal and human capital restraints and need to remain in compliance.”

The SEC has made prominent examples out of numerous Wall Street brokerage firms. In December 2002, the commission fined Goldman Sachs, Salomon Smith Barney, U. S. Bancorp Piper Jaffray, and two other institutions more than $8 million for failing to retain e-mails for the correct SEC-mandated retention period. In March 2003, Bank of America Corp. was fined $10 million—the largest fine ever imposed by the SEC—for failure to produce e-mails and documents concerning trading practices.

While these initial penalties were levied against large, “deep-pocketed” institutions, a 2003 study by the ePolicy Institute, American Management Association, and Clearswift showed that of 1,100 U. S. companies surveyed, 14% had been ordered by a court or regulatory body to produce employee e-mail. “Safecore is poised to help these companies avoid these severe legal and monetary threats so they can stay focused on successfully managing their businesses,” added Gregory.

ABOUT SAFECORE

Safecore, Inc. is a technology-enhanced service provider delivering a full suite of business continuance, dynamic e-mail and IM archiving, and managed compliance solutions to mid-sized companies. Safecore’s solid expertise ensures firms meet all current regulations that mandate the long-term retention, retrieval, and integrity of critical business information—especially crucial to highly regulated industries such as securities brokerage, banking, and healthcare. The firm’s powerful, unique hosted environment enables clients to concentrate on their own businesses, confident that all critical systems, electronic data, and intellectual property are permanently safeguarded and securely accessible. Safecore resolves to provide its customers the most flexible, robust, and affordable enterprise-sized solutions in the industry. www. safecore. com

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