Crossing the Technology Chasm: kloudtrack® Transforms from Traditional Software to SaaS

by Michael P. Binko, APR CEO and President, kloudtrack

With focused attention and considerable resource investment kloudtrack® was one of the first enterprise application software and technology companies to take on a challenge that many traditional software vendors are even now still merely considering.

This challenge was to take an existing “gold-disk” enterprise software platform and transform it into a Software-as-a-Service (SaaS) offering. This transformation fundamentally changes the manner in which the technology/product is offered in the market by changing it from a traditional type of software application that is loaded onto server and client PCs, to a Web- based outsourced software application that is then accessible from any Internet-enabled PC.

This task is considerable for any company even if they are a large and fully financed business; however, this task can be monumental for a bootstrap early-stage company with limited resources.

Nevertheless, the kloudtrack® management team took a hard look at the market for enterprise software and realized that SaaS was likely (and rapidly) going to become the preferred model for success.

Indeed, that insight and the commitment to move forward has proven to be critical to kloudtrack® currently being recognized as a leader in SaaS enterprise content management (ECM), workflow and business process management (BPM), compliance and risk mitigation technologies. These technologies, along with the company’s considerable domain expertise, are finding customers in several vertical industries through SaaS technology licenses and Solution Service consulting and integration contracts.

During the transformation from traditional “gold disk” software to SaaS, kloudtrack® also faced the challenge of having existing customers that were quite happy with the traditional annual license model and the client-server kloudtrack® application.

Nonetheless, kloudtrack® undertook a considerable educational and marketing effort (in tandem with the core SaaS engineering effort) to ensure existing clients that the SaaS model would provide improved performance, security and cost while also providing a much more flexible user platform and billing model (monthly).

This flexibility of cost-management and the ability to add additional kloudtrack® features (modules) as-needed and at low costs, proved to be a strong value proposition for these existing customers as well as new prospects.

As a result, kloudtrack® is VERY proud of the fact that during the 18+ month “gold disk”-to-SaaS transformation period ALL existing customers switched over to the SaaS technology and monthly billing model and continued with the company.

This includes more than 20 branch offices of Lincoln Financial-Jefferson-Pilot Securities (currently one of the largest kloudtrack® customers).

Accomplishing this technology and business transformation, set kloudtrack® in a unique class of technology peers — and an even more exclusive class of early-stage companies.

In addition, having accomplished the transformation and having maintained its existing customer base, kloudtrack® has now made another successful transformation from Tested HotShot Bootstrap to Established Market Leader.

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OnJuly 16, 2019, posted in: Recent Articles by

kloudtrack® Extends FINRA and SEC Compliance for Broker-Dealers with kloudtrack® Cyber-Cloud Technology Enhancements

kloudtrack® EXTENDS FINRA AND SEC COMPLIANCE FOR BROKER-DEALERS WITH kloudtrack® TECHNOLOGY ENHANCEMENTS

BETHESDA, MD, February 21, 2019 –kloudtrack®, a leader in Cyber-security | Cloud (Cyber | Cloud) technologies and solutions for compliance-centric and heavily-regulated industries, today announced significant enhancements to its kloudtrack® business process management/workflow technologies as they are being offered in the financial services sector.

Enhancements include broader support for FINRA, SEC, eDiscovery and other data management regulations as well as newly completed integrations with industry-specific communications and information delivery systems. Specifically, kloudtrack®S today unveiled full support for Bloomberg Professional® instant message (IM), e-mail and attachment archiving, search and instant retrieval.

“Support for Bloomberg IM, e-mail and attachment data, including XML-formatted content, was something that many of our financial services customers have been seeking for a long time – particularly mid to large-size broker-dealers and investment managers,” stated Jan Levine, chief technology officer for kloudtrack®.

kloudtrack® is one of only a few technology providers that can manage the complexity of the various Bloomberg message formats using any of the 32 data-field descriptors that are the core components of the systems’ proprietary data structure.

Once the information is stored, kloudtrack® provides several powerful search tools, including the ability to conduct full-text searches of all IM, email and attachment content.  kloudtrack® can also compare the content to a user-developed and managed lexicon to warn of improper words and phrases being e-mailed or sent via IM.

“Unique to kloudtrack® is the ability for Administrators or Compliance Officers to easily and quickly have any Bloomberg IM, email or attachment instantly dropped into the kloudtrack® workflow architecture to monitor and track acknowledgement, by recipients, of new procedures or internal policy announcements. This is a important factor in maintaining compliance with Sarbanes-Oxley and NASD/SEC regulations as well as the December 2006 landmark Supreme Court ruling related to eDiscovery,” added Levine.

A strong focus on compliance in heavily-regulated industries is a significant differentiator for kloudtrack®.  As such, support for both proprietary and industry-standard communication platforms is critical to meet the compliance concerns of customers across many vertical markets.

“Whether they are in financial services, insurance, healthcare/medical, legal, pharmaceuticals, government, telecom or other sectors, enterprises are interested in kloudtrack® because we have become compliance experts in the area of using outsourced SaaS technologies to surpass regulatory requirements,” added Michael Binko, kloudtrack® president and CEO.

The kloudtrack® SaaS technology/product suite currently includes the following solution tool-sets and capabilities:

  • kloudFile – secure, online document and data storage/retrieval
  • kloudFlow – electronic BPM/workflow and business intelligence oversight
  • kloudMail – automatic e-mail archiving and surveillance
  • kloudCash – electronic payment processing and check clearing
  • Bloomberg instant message (IM), attachment and e-mail archiving/search/retrieval

For maximum flexibility, kloudtrack® component technologies are offered either as a suite package or individually via monthly service plans segmented for each tool-set. Scalable hosting, comprehensive service-level agreements (SLAs) and volume pricing discounts make kloudtrack® the ideal option for middle-market enterprises (20–2000 users) that want to be able to scale-up or ratchet-down staff resources and related compliance support as-needed.
Detailed pricing information, customer references, compliance-related white papers and a free 30-day technology trial are available via the Web www.kloudtrack.com, by calling 240-499-3832 or by sending an e-mail to sales@kloudtrack.com.

About kloudtrack®

kloudtrack®is a technology and solution services company that offers simple, yet powerful and affordable, hosted Software-as-a-Service (SaaS) business process management (BPM), cyber, workflow and compliance technologies for heavily-regulated and compliance-centric industry sectors. The company’s flagship technology offering, kloudtrack®, provides a comprehensive knowledge management and business intelligence platform and is initially being targeted for the following vertical industry sectors – financial services, legal services, healthcare/medical, pharmaceutical, government, telecomm and others.

kloudtrack®is one of the first technology and solution providers to make it affordable for small to mid-size enterprises (SMEs) to employ comprehensive BPM/workflow automation technologies using SaaS cost-savings while also addressing specific federal and industry-imposed regulatory compliance standards. This understanding and integration of compliance factors truly sets kloudtrack® technologies, solutions and intellectual property apart in the market.

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OnFebruary 21, 2019, posted in: Press Releases by

kloudtrack® and Formtree Team to Combine Mobility, Forms and Cloud Solutions for Secure Data and Process Management

From Paperless Initiatives to Straight-through Processes to Governance, Risk and Compliance (GRC) Many Industry Sectors to Benefit

 

ANNAPOLIS, MD and ROCKVILLE, MD – October 27, 2018 – kloudtrack® and Formtree today announced a collaborative effort to integrate Formtree mobile data collection solutions with kloudtrack cloud-based data management and workflow systems.  The integrated solutions are designed to acquire and transport secure, mobile paperless transactions with audit-ability and transparency geared toward Governance, Risk and Compliance (GRC) across numerous industries.

 

Under the agreement, Formtree has joined the kloudtrack Innovation Sandbox™ as a vendor partner.  Innovation Sandbox vendor partners work in tandem to identify customer Use Cases that could be addressed meaningfully with innovative technologies.  Vendor partners also work with academia teams from research universities to implement and evaluate results of Use Case deployments.

 

“The Innovation Sandbox presents a compelling new twist on IT procurement and channel opportunities,” stated Michael Venezia, Chief Operating Officer of Formtree.  “As an early stage tech company, we were looking for a sales model that would allow us to pool resources with other like-minded innovators while also leveraging other communities that have similar goals.  The combination of emerging innovative vendors with Applied IT teams from leading universities presents a very efficient engagement model that allows customers to test innovations under a proof of concept.”

 

A strategic part of the Formtree-kloudtrack mobility solution is to provide a service wherein customary paper-based business forms and clipboard actions of the client’s field personnel will be converted into integrated mobile apps for easy input on PC-based and mobile devices powered by systems such as Apple® iOS®, Android® and other mobile operating systems.  This opens deployments to a wide array of hand-sets, tablets or other mobile devices.  These applications have direct benefits for organizations in a broad spectrum of industry sectors.

 

“From insurance, banking and securities, to government at all levels, to healthcare, to manufacturing, to real estate, to education organizations in almost every industry sector still widely utilize paper forms and written signatures,” stated Jan Levine, founder|CTO of kloudtrack.  “The advent of Web-based fill-able form applications along with sophisticated Cloud 2.0® approaches to operational improvement, workflow and best-practice management affords organizations of all sizes the ability to automate core business functions in ways never imagined,” added Levine.

 

Formtree-kloudtrack® solutions are available immediately and are being integrated with other traditional enterprise software, cloud computing and mobile applications.  In fact, an early beta-deployment case study is being presented jointly by Formtree and kloudtrack during the CyberMaryland Conference in Baltimore, MD on Wednesday, October 29 from 2:45 – 3:30.

 

The session, entitled “Welcome to the Innovation Sandbox: A Start Small … and Scale Approach to IT,” will highlight a use case from the healthcare/medical sector.  This particular deployment was for a private-practice dental office now utilizing the Formtree-kloudtrack innovations for paperless patient visits and new patient engagement.

 

Together with anchor partner Cisco Systems, kloudtrack is inviting select innovation vendor partners and academia partners to participate in the Innovation Sandbox efforts for govt/public sector, healthcare/medical and cyber-security/GRC industry segments.  Other industries will be supported in the near future.  Details about the Innovation Sandbox initiative can be found here.

 

About kloudtrack®

Headquartered in Annapolis, MD  kloudtrack® is a cybersecurity and cloud computing (Cyber|Cloud) company that integrates best-practice management and audit-trails that place a premium on monitoring users, collaborations and risks related to sensitive data assets and processes.  kloudtrack® is one of the first providers to address industry-specific governance, risk and compliance (GRC) standards in Cyber|Cloud environments across multiple vertical industries.  Sectors include fin-serv (SEC/FINRA/Basel Accords/FED), health-medical (HIPAA/CCHIT/FDA-REMS) and government (FIPS/FISMA/FedRAMP), and many others. This understanding and integration of GRC factors and certifications sets kloudtrack® technologies, solutions and IP apart in the market and is now available via the Innovation Sandbox ecosystem.  Learn more at www.kloudtrack.com or contact the company directly at 240-499-3844 or sales@kloudtrack.com.

 

About Formtree

Formtree is a paperless, cloud based form filling software. It enables secure straight through processing for businesses without the need for a laborious overhaul in their current business model. Formtree takes standardized business forms and migrates them to an easily accessible cloud platform.  Formtree technologies and solutions are tailored to meet varied operational and industry­related requirements. Initial industry sectors include healthcare/medical, financial services, government/public sector, real estate, and general small business. Solutions combine affordability with innovations that address governance/risk and compliance.  To find out more about Formtree, please visit formtree.co, or contact Mike Venezia at mike@formtree.co or Bryan Goldberg at bryan@formtree.co.

 

 

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OnOctober 27, 2018, posted in: Press Releases by

kloudtrack® president | CEO, Michael Binko, Presents “The Human Side of Compliance” at CyberMaryland Conference

Join me at the CyberMaryland 2013 conference Oct. 8-9 in Baltimore, MD. For info or to register, www.fbcinc.com/e/cybermdconference. #CyberMD2018! 

I will be presenting perspectives on “The Human Side of Compliance®” during the Cyber Technology & Innovation panel session from 1:30-2:30 on the first day of the conference Oct. 8.  The session highlights how decision-makers in both private and public sector should be factoring Cyber and Security risks when roadmapping innovations and technologies that interplay with sensitive data and processes.

00000048Gain a Clearer Perspective on sophisticated Cloud 2.0 solutions by checking out my “The Decade the Internet Grew Up™” article.  I and our team look forward to seeing you there … !

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OnSeptember 30, 2018, posted in: Press Releases by

The Human Side of Compliance™

SaaS | Cloud Computing Takes Document Imaging, Workflow, Audit Response and Risk Mitigation to New Levels

Written by:  Michael Binko, president and CEO, kloudtrack®

Much has been made in securities and insurance communities over the past few years about using technology to assist in transaction-based compliance monitoring.  From suitability and AML to best-price trading the technology community has rallied around tracking, tracing and logging securities transactions from virtually every angle.

Nonetheless, during the same time-period both the volume of SEC/FINRA regulatory audits and the amounts of fines levied in enforcement actions consistently doubled year-over-year.   Similar compliance challenges are confronting stakeholders in Healthcare Reform, Government 2.0 and other industries where privacy and transparency must be balanced.

One might wonder, “How can this be?  If organizations are investing so heavily in scrutinizing financial transactions and medical records/payments where are compliance break-downs occurring?”

The answer is elementally simple yet two-fold:  Documents and Humans!

 

  1. Documents:  The first challenging reality is that, no matter how automated and thorough transaction monitoring tools are, every piece of broker-dealer business is ultimately processed using some type of paper or electronic document/form.  This element of the industry is at once fundamental and profound.  While both paper-based and paperless systems can accomplish the same end results, firms struggle with providing options for employees that are consistent across both models.
  2. Humans:  The second and even more fundamental aspect of securities and insurance transactions is the fact that all pieces of business are finalized only with the direct involvement and activities of individuals – clients, reps/producers, registered principals, IT staff, operations, as well as legal and/or compliance team members, to name a few.  While typically well-trained and equally well-intentioned the simple fact is that this Human Side of Compliance™ is largely responsible for the majority of compliance, legal and risk management break-downs.

 

The cross-section of these two tenets of securities/insurance business is precisely where the next level of operational efficiency, supervisory process and regulatory compliance is already being found by many firms – no matter the size.

 

Meet Me at the Crossroads

On the document side developments in scanning, imaging, optical-character recognition (OCR), data-mining, archiving and sophisticated search-and-retrieve have been the norm for quite some time.

The Human Side of Compliance, however, is much more difficult.  Once a document (whether paper-based or electronic) is ready for processing the challenges of reviewing and approving the document take center stage.  In the securities and insurance world that involves very meticulous supervisory procedures and review processes.   Capturing information related to who is handling the document and keeping an audit trail of associated data and review/approval events is critical.

While cumbersome to automate, systems that fuse document management and human workflow capabilities with other front and back-office systems are providing the best results

Enter Software-as-a-Service and Cloud Computing

The good news is that there are technologies available that tackle the challenges of structured document management while simultaneously mitigating the risks of the Human Side of Compliance – and these technologies are not cost-prohibitive or difficult to implement. 

For more than a decade now one technology concept has emerged as the most viable platform for addressing quick enterprise growth, the challenges of critical document management and the subtleties of human compliance.  This concept is often referred to as Software-as-a-Service or Cloud Computing (SaaS | Cloud).

In SaaS | Cloud scenarios, the software is not purchased and installed on a company’s server; rather, SaaS | Cloud platforms are accessed through the Internet using encryption techniques and full audit-trail technologies.  SaaS | Cloud has been changing the software industry at fundamental levels offering benefits to small and medium-sized companies because the basic features include:

  • Simplicity & Mobility
  • Security & Recovery
  • Scalability & Predictable Costs

With SaaS-Cloud, capabilities once only available to the largest firms are now easily attainable for small firms as well as individual practitioners.

Scalability & Predictable Costs
Predictable total cost of ownership (TCO) and return on investment (ROI) are also two critical components that make SaaS | Cloud a no-brainer for growth-minded firms.

To start, pricing models for SaaS | Cloud typically have low points of entry and only increase as a company ramps-up its use of the SaaS | Cloud application(s).  SaaS | Cloud offers better cost management because there is no need to schedule an onsite update of users’ computers each time there is a security or other software update.  With SaaS | Cloud applications edits to user profiles and upgrades to the applications are all completed automatically and remotely as a part of the service.  This alone can mean a reduction in IT expenses and can free up internal or third-party IT teams to concentrate on addressing other more strategic needs.

In addition, the true TCO and ROI benefits shine through with the simple fact that hard-costs of application server equipment and data center infrastructure are managed directly by the SaaS | Cloud provider and are not at risk if disaster strikes the place-of-business.

Kaulkin Information Systems (KIS) is pleased to have been one of the original SaaS | Cloud pioneers and is one of the few vendors that it has been delivering its kloudtrack® family of SaaS | Cloud application modules to broker-dealers and other financial services firms for nearly a decade.

We look forward to working with you!

In the meantime, we invite operations, legal, compliance, IT and executive management team members from our broker-dealer community to take a look at the results of a 9-month ROI Benchmark Study (http://www.kistrack.com/roi/roi_case_study.pdf) that highlights hard-dollar savings realized during instances of actual FINRA/SEC audit scrutiny.

 

 

Mike Binko is President and CEO of Kaulkin Information Systems (KIS), a leading provider of secure, affordable document management, workflow, compliance and risk mitigation technologies and solutions services.  Mike can be reached at mbinko@kistrack.com, or at 240-499-3830.   KIS information is also available at www.kloudtrack.com.

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OnJuly 19, 2018, posted in: Recent Articles by

Simple | Powerful | Affordable™

SaaS | Cloud Computing — The New Economic Model for Enterprise IT

by Michael P. Binko, APR – CEO and President, kloudtrack®

Enterprise software and application deployments have often been a challenge for growing companies – particularly for small-to-medium enterprises (SMEs).  The challenges have concentrated around how to reduce total cost of ownership (TCO) while ensuring maximum return on technology investments (ROI).

Until recently, SMEs had few options other than working with off-the-shelf software applications that were primarily developed and packaged in a manner best suited to larger companies with big budgets and properly staffed IT departments.

Enter the Internet, pervasive broadband networking and SaaS|Cloud computing — forming a strong foundation for a new economic model of enterprise information technology (IT).

Over the past couple of years, a broad revolution known as Software-as-a-Service or Cloud (SaaS|Cloud) computing has been changing the software industry at fundamental levels. The SaaS revolution primarily benefits SMEs as the basic tenets of the movement include:

  • simplicity
  • flexibility
  • security
  • scalability
  • predictable costs

The Ease-of-Use Factors
Simplicity is a fundamental element of SaaS. In essence, enterprise end-users need a computer, a Web browser and their username and password to have immediate access to their critical software applications – no matter if this user is in the office or on the road.

This mobility is one example where simplicity fuses with flexibility — another is workflow and business rules. For example, a junior account manager could upload new prospect information at their desk during initial telephone conversations. The same staffer or co-workers could access the information perhaps while on the road.  Updates or senior staff approvals could then be completed in accordance with a pre-described workflow routine.

Subsequent changes and workflow routines would then also be managed, reviewed and approved as they occur.

Safe and Sound
While ease-of-use and data management benefits are readily apparent, many SMEs seem hesitant to adopt SaaS because of perceived security risks.  The fact is that SaaS|Cloud is just as safe, and often more secure, than traditional client-server or distributed “gold-disk” software. A few reasons for this include continued enhancements in data center security and the fact that updates to SaaS|Cloud applications can be automated and immediate, with built-in assurance that all users are operating with the most up-to-date versions.

This can be a tremendous time and budget saving aspect of SaaS|Cloud for bootstrap and growing businesses alike. Furthermore, for companies operating in heavily-regulated industries such as banking/finance, healthcare/medical, legal, government and others, most SaaS services incorporate baseline compliance factors (such as up-time assurances) as a part of doing business.

Examples include support for FINRAand SEC data archiving regulations in banking and finance and eDiscovery on the legal front. (**NOTE: Keep an eye on future issues of The KADRE™ for more in-depth discussions of these topics.)

TCO and ROI
Predictable costs and scalability are also two critical components that make SaaS|Cloud a no- brainer for SMEs.

No longer does the management team need to schedule an onsite update of users’ computers, as edits to user profiles and upgrades to the applications are all completed automatically and remotely.

This alone can mean a reduction in IT consulting expenses and can free-up internal IT teams to concentrate on addressing other strategic needs.  Pricing models for SaaS also typically have low points of entry and only increase as an SME grows or increases their use of the SaaS/Cloud applications.

In short, the SME has little risk in testing the SaaS|Cloud waters and can manage growth as well as the associated costs in a very scalable manner. In addition, the true TCO and ROI benefits shine through for the SME with the simple fact that hard-costs of application server equipment and data center infrastructure are managed directly by the SaaS provider.

So, even though the story of SaaS is in its early chapters, SME companies across a wide variety of industries are realizing that picking up the flag of revolution, in this case, is decidedly in their best interest.

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OnJuly 16, 2018, posted in: Recent Articles by

Microsoft® Selects kloudtrack® for Startup Accelerator Program

ROCKVILLE, MD – January 22, 2018 – kloudtrack®, a leading provider of software-as-a-service (SaaS) technologies for compliance, workflow and risk management across numerous industries, today announced that it has been selected to join the Microsoft Startup Accelerator Program.

Stewarded by the Emerging Business Team (EBT) at Microsoft Corp., the Startup Accelerator Program is designed to connect high-potential startups committed to the Microsoft platform to an extensive support network that provides access to Microsoft people and programs, guidance on future directions, and support to accelerate their success.

“While SaaS-based technologies are indeed gaining a firm foothold in enterprise IT strategies at all levels we believe the surface has merely been scratched,” stated Michael P. Binko, president and CEO of kloudtrack®. “Recognition by Microsoft as a SaaS leader in the areas of compliance, workflow and risk management bolsters our efforts and reaffirms our commitment to advanced Microsoft-based SaaS solutions. We look forward to proving how Microsoft platforms are serving as a foundation for sophisticated and critical business applications across blue-chip industries such as financial services, insurance, banking, healthcare/medical, government/education, franchising and others.”

The kloudtrack® flagship product offering, KISTrack™, integrates multiple application “modules” designed to address the enterprise productivity, data management, compliance and risk mitigation needs of businesses particularly in heavily-regulated industries. Beyond simple enterprise productivity the kloudtrack® platform also incorporates support for:

  • workflow/business process management (BPM)
  • detailed dash-boarding, analytics and reporting
  • e-mail/IM communication surveillance
  • disaster recovery/business continuity
  • integration with legacy systems
  • document management
  • sophisticated archive/search/retrieval functions and
  • electronic transactions

“Compliance and risk mitigation are two areas of business operations that can benefit greatly from streamlined data management strategies and kloudtrack®’s success in delivering these solutions via a Microsoft-based SaaS platform is unique and compelling,” stated Rodney Bowen-Wright, director of business development for Microsoft’s Emerging Business Team. “With simultaneous concentration on productivity, compliance and risk management ROIs, the kloudtrack® team has cultivated a strong niche and truly unique differentiators.”

Microsoft is committed to serving as a valuable technology and business partner for emerging startups and their investors. Companies are selected to join the program based on their innovation, marketability, growth potential, funding, platform decision and strategic importance to Microsoft. These companies receive customized engagement plans designed to support their software development and increase market visibility.

The Microsoft EBT evaluates hundreds of technology startups each year to identify those with the strongest potential to succeed in the market, shape the industry’s future, and enhance the overall value of Microsoft products and services for customers. The Microsoft Startup Accelerator Program shines the spotlight on some of the most promising startups and provides good examples of how startups can work successfully with Microsoft. To learn more, visit the Microsoft Startup Zone at http://www.microsoftstartupzone.com.

About kloudtrack®

kloudtrack® is a technology and solution services company that offers simple, yet powerful and affordable, hosted Software-as-a-Service (SaaS) compliance, workflow and risk mitigation technologies. kloudtrack® is one of the first technology and solution providers to make it affordable for small to mid-size enterprises (SMEs) to employ comprehensive BPM/workflow automation technologies using SaaS cost-savings while also addressing specific federal, state and industry-imposed regulatory compliance standards.

This understanding and integration of compliance factors truly sets kloudtrack® technologies, solutions and intellectual property apart in the market. For more information related to the kloudtrack® ROI Benchmark Studies visit www.kloudtrack.com/roi or for detailed kloudtrack® and our Solution Services pricing information, contact via telephone at (240) 499-3832 or via e-mail to jlevine@kloudtrack.com.

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OnJanuary 22, 2018, posted in: Press Releases by

kloudtrack®, Cisco and The University of Maryland Launch Innovation Sandbox™ For Healthcare, Medical and Life Sciences

Sandbox Centers Create ‘Proving Grounds’ Where Public and Private Sector Organizations Can Test Innovation Viability Using a Start Small and Scale™ Approach

 

#MEDA Conference, COLLEGE PARK, MD: kloudtrack®, a leader in cybersecurity and cloud computing (cyber|cloud) technologies and solutions for sensitive data and process management, announced a teaming relationship with the University of Maryland’s Center for Health Information and Decision Systems (CHIDS) and Cisco Systems (NASDAQ: CSCO) to establish the first Innovation Sandbox™ for healthcare, medical and life science (HealthTech) organizations.

 

The HealthTech Innovation Sandbox caters to the innovation, workforce/economic development, and technology road-mapping needs of public and private sectors.

 

The press conference was held during the Maryland Economic Development Association (MEDA) Conference at the Riggs Alumni Center on the main campus of the University of Maryland, Prince George’s County.   The theme for this year’s MEDA Summer Conference is Health Innovations: Impact on Economic and Workforce Development.

 

The HealthTech Innovation Sandbox, which will be available via both physical and virtual data hosting platforms, is being developed jointly by kloudtrack and Cisco in partnership with UMD’s CHIDS program.  CHIDS is an academic research center located within the Robert H. Smith School of Business.  This Innovation Sandbox will allow healthcare, medical and life science organizations to test, research, teach and learn a variety of innovative technologies and/or methodologies in a proof-of-concept “sandbox” environment.

 

As with all Innovation Sandbox environments, the HealthTech sandbox will be provisioned in-tandem with selected vendor partners that offer tech solutions in a variety of innovation categories (including):

 

  • Cloud Computing | Cloud Migration | Cloud 2.0™
  • Innovation Roadmapping | Lean-Agile
  • Cyber | InfoSecurity | GRC
  • Data Driven Innovation™ (Data Analytics | Big Data | Reporting)
  • Mobility (Wireless | BYOD | Cross-platform | Device Independence)
  • Platform Integration | Legacy Data Migration | Portability
  • Hosting (IaaS, SaaS, PaaS | Co-Location | Virtualization)
  • Secure Collaboration | Safe Sharing
  • Business Process Management | Workflow
  • Solution Services (IT Assessments, ROI Metrics, Benchmarking, Cloud Broker, Certifications)

 

“Healthcare as an industry has developed over the past 100 years to become perhaps the most pervasive citizen service in most developed countries,” stated Kenyon Crowley, Deputy Director for CHIDS at the University of Maryland. “During that same period innovations and technical advances have often outpaced the sector’s ability to efficiently implement and integrate these technologies across this complex sector.  The Innovation Sandbox offers a low-cost | low-risk approach that allows practitioners and health stakeholders from any specialty area to test new innovations against key bottom-line and patient care objectives while fostering a learning community,” added Crowley.

 

Now, more than ever, the driving factors behind IT deployments have become more economic than technical.  The advent of innovations such as cloud, virtualization and mobility mean the vendor landscape is much more diverse and nimble.

 

“The economic drivers around innovations – particularly IT – afford practitioners a rare opportunity to consider best-of-breed offerings when considering and procuring IT,” stated Michael P. Binko, president | CEO of kloudtrack®.  “Furthermore, with incentives such as the HITECH Act and increased regulatory enforcements, healthcare/medical/life sciences organizations must now be keenly in tune with patient care outcomes as they are now the primary driver for reimbursement.  The vendors recruited for the HealthTech Innovation Sandbox are all proven leaders addressing industry requirements such as interoperability standards and cybersecurity certifications,” added Binko.

 

The Innovation Sandbox environments are designed to give organizations the opportunity to test IT waters with a Start Small … and Scale™ approach.  Keen sensitivity is given to limited resources and measurable results.  Deployments are expected to run on sandbox systems for a period of weeks or months at small costs.  During these test-bed deployments academia teams will evaluate the viability and return on investment (ROI) for selected innovations.  Then, decisions can be made about contracting and scaling the deployments with a solid base of results-oriented information.

 

“Organizations will be able to utilize the Innovation Sandbox to test sample-sets of data, users, processes and measure value metrics against real-world use case scenarios,” stated Dan Kent, CTO-US for Public Sector, Cisco Systems.  “This concept and approach is consistent with Cisco’s efforts to cultivate vendor ecosystems.  With tightened budgets and a much more diverse environment of innovations available, CIOs have a rare opportunity to test the waters.  These Innovation Sandbox environments offer an on-ramp to next-generation technologies that could have a dramatic impact on bottom-line results,” added Kent.

 

The Innovation Sandbox approach works in a wide variety of industries.  As announced previously, Cisco and kloudtrack have identified the following sectors for initial Innovation Sandbox efforts:

 

  • Public Sector | Government | Education (federal, state, municipal, local) – launched in Oct. 2014 with George Mason University (GMU)
  • Cyber | InfoSecurity | GRC (governance, risk  and compliance)
  • Financial Services (securities-insurance brokers, banking, capital markets, deal-flow)
  • Property | Asset Management
  • Energy | Utilities | Telecom
  • Manufacturing (3-D printing, rapid prototyping, logistics, supply chain)
  • Retail | Consumer

 

By the end of 2014, three Innovation Sandbox environments are expected to be operational with a broad community of partner organizations serving diverse customer needs.  Invited partner organizations will include academia (universities, training centers), technology/solution vendors, consulting/professional service providers, system integrators, branding/affinity sponsors, incubators/accelerators, economic development agencies (EDAs) as well as individual thought-leaders.

At this time, kloudtrack and Cisco are seeking innovation partners to jointly map sophisticated innovations and offerings to existing missions, task orders and new procurements in the industry sectors and innovation categories highlighted above.  Interested parties should contact Nicholas Mumma at 240-499-3832 or nmumma@kloudtrack.com.

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About kloudtrack®

Headquartered in Annapolis, MD  kloudtrack® is a cybesecurity and cloud computing (Cyber|Cloud) company that integrates best-practice management with IT security and audit-trails that place a premium on monitoring users, collaborations and risks as they relate to sensitive data assets and processes.  kloudtrack® is one of the first providers to address specific international, federal, state and industry-imposed governance, risk and compliance (GRC) standards in Cyber|Cloud environments across multiple vertical industries.  Sectors include fin-serv (SEC/FINRA/Basel Accords/FED), health-medical (HIPAA/CCHIT/FDA-REMS) and government (FIPS/FISMA/FedRAMP), and many others. This understanding and integration of GRC factors and certifications sets kloudtrack® technologies, solutions and IP apart in the market and is now available via the Innovation Sandbox ecosystem.  Learn more at www.kloudtrack.com.

 

About Cisco

Cisco (NASDAQ: CSCO) is the worldwide leader in IT that helps companies seize the opportunities of tomorrow by proving that amazing things can happen when you connect the previously unconnected. For ongoing news, please go to http://thenetwork.cisco.com.

 

About the University of Maryland CHIDS Program

CHIDS works in collaboration with industry and government affiliates to research, analyze, and develop solutions to challenges surrounding the introduction and integration of information and decision technologies into the healthcare system. The research at CHIDS seeks to understand how digital technologies can be more effectively deployed to address outcomes such as patient safety, healthcare quality, efficiency in healthcare delivery, and a reduction in health disparities. Since its inception in 2005, CHIDS has served as a focal point for thought leadership around the topic of digitally-enabled health system transformation.

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OnNovember 3, 2017, posted in: Press Releases by

kloudtrack® Named One of 12 “Hot Companies to Watch” in Government Computing

Strengths in Cyber Security, Cloud Migration Leadership and Commitment to Cloud-based Deployments that Conform to FedRAMP Certifications Noted

ANNAPOLIS, MD – October 23, 2017 – kloudtrack® – a leader in SaaS |Cloud Computing technologies and solution services for Governance, Risk and Compliance (GRC) – today announced the company has been selected by 1105 Media’s Federal Computer Week magazine as one of 12 Hot Companies to Watch in Federal government IT.

 

In a feature article, Federal Computer Week recognized kloudtrack® for its cost-effective and readily deployable cloud solutions.  The editorial staff highlights kloudtrack® IT security, attention to the Human Side of Compliance® and the company’s progressive approach to cloud migration strategies.

 

Of particular note, the company’s recently announced FedRAMP Roadmapping℠ initiative as well as its ikloud™ mobility platform are representative of its innovative approach to cloud computing.  To read the entire article visit http://fcw.com/Articles/2012/09/30/FED-LIST-hot-companies-to-watch.aspx?Page=4.

 

The company’s flagship product offering kloudtrack® integrates multiple application “modules,” delivered via a sophisticated Cloud 2.0™ computing architecture, that are designed to address the business process, data management, big-data analytics, legacy-to-cloud migration and GRC needs of businesses and organizations in a wide array of industries.

 

These industry sectors include Financial Services (securities, banking/insurance, capital markets), Government (federal, state, local/municipal), Healthcare/Medical, Pharma/Life Sciences and others.

 

“In just over two years the U.S. Federal Government particularly has mobilized considerable resources and opened numerous avenues to assist agencies in adopting cloud computing,” stated Michael P. Binko, president|CEO of kloudtrack®.  “Whether migrating to the cloud from legacy IT platforms, considering their agency’s role as a ‘cloud broker,’ tackling security factors in choosing public, private, hybrid or community/federated cloud environments, CIOs and other IT decision-makers across numerous industries are benefiting from the kloudtrack® Cloud 2.0 stance.  As leaders in innovation we understand intimately that the greatest gains related to cloud computing will be realized when challenges are addressed via an ecosystem approach.”

 

kloudtrack® is an active and recognized leader in government navigation to cloud computing.   Since 2010, kloudtrack® executives have contributed directly via cloud and cyber security initiatives led by the Executive Office of the President, SIIA and NIST.  In fact, Levine is Compliance Director for FedPlatform and was also asked by NIST to lead the Cloud Computing Reference Architecture (RA) straw-man Working Group and serve as Board member of the Canadian Cloud Council.  kloudtrack® president/CEO, Michael Binko, serves as Board co-chair of the SIIA Public Sector Innovation Group (PSIG) –  an industry group working closely with the President’s federal agency CIO Council.

More recently, kloudtrack® was also invited to join Cisco® in mapping the kloudtrack® platform to the newly unveiled RA during the recent NIST Cloud Computing Workshop.

 

At this time, kloudtrack® is seeking solutions-oriented partners to jointly map sophisticated Cloud 2.0™ offerings to existing task orders and new government procurements.  Combining recognized leadership with more than 10 years of cloud-based GRC expertise in commercial sectors, the kloudtrack®  team is intimately familiar with emerging certifications and is poised to assist SI partners and their agency customers migrate to the cloud in a measured way — Start Small, and Scale®.

 

About kloudtrack®

Headquartered in Annapolis, MD kloudtrack® is a Software-as-a-Service and cloud computing (SaaS|Cloud) company offering Governance, Risk and Compliance (GRC) technologies and solutions for Business Processes, Data Management and Human Interaction workflow.  kloudtrack® integrates best-practices management with audit-trails that place a premium on monitoring users, data, transparency and collaborative processes as they relate to sensitive data assets.

 

kloudtrack® is one of the first technology and solution providers to address specific international, federal, state and industry-imposed regulatory compliance standards in SaaS|Cloud environments across multiple vertical industry sectors.  This understanding and integration of GRC factors truly sets kloudtrack® technologies, solutions and intellectual property apart in the market.  Learn more at www.kloudtrack.com or contact the company directly at 240-499-3832 or sales@kloudtrack.com.

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OnOctober 24, 2017, posted in: Press Releases by

kloudtrack® Offers kloudtrack® SaaS Technology Platform to Companies Threatened by California Wildfires

BETHESDA, MD, October 23, 2017 – kloudtrack®, a leading provider of software-as-a-service (SaaS) technologies for financial services, legal and compliance-centric industries, today announced that the company’s Internet-based KloudTrack® technology platform is being made available to at-risk companies in the region of the California wildfires for purposes of disaster recovery, risk mitigation and business continuity.

In order to support the immediate needs of companies in the wildfire area, the company is waiving user license fees and basic storage fees for the kloudtrack® platform through the end of 2017. kloudtrack® will charge only the standard $695 database set-up fee and standard data storage fees at the monthly rate of $10 per GB above 50GBs.

The company’s flagship product offering, kloudtrack® integrates multiple application “modules” designed to address the document archiving, data management, disaster recovery, compliance and risk mitigation needs of businesses in a wide variety of sectors. In addition to financial services, these industry sectors include banking/insurance, accounts receivable management, collections, pharmaceuticals, healthcare/medical, franchise management, property management, government and others.

“With the fast spread of the wildfires in California over the past couple of days, we have been contacted by many companies and business owners asking how quickly we could assist them in archiving critical documents that might be at-risk of fire/water damage or destruction,” stated Michael P. Binko, president and CEO of kloudtrack®. “Being that we are a SaaS Internet-based software application, companies could begin uploading critical documents immediately.”

While the company has been primarily contacted with requests from existing customers and prospects, the fast spread of the wildfires has convinced the company to broaden the availability of kloudtrack® to companies outside its existing customer community and industries.

“Many of the companies contacting us do not have a formal disaster strategy or recovery plan and are having a difficult time figuring out where to begin,” added Binko. “We are suggesting that the first place to start is critical legal and operational documents associated with core business functions – such as executed customer contracts, intellectual property materials, partner agreements, and human resource materials. For a mid-sized business, this might be 500-1000 pages of core documents that can be uploaded quickly in a matter of minutes or hours.”

Larger organizations or highly-departmentalized companies are asked to contact kloudtrack® directly as there are several techniques that can be employed to speed up the process of digitization and transfer of larger amounts of documents and data. The minimum requirements on the customer side are a reasonably-fast Internet connection (above 10GBps), a computer with a fairly recent (2014 or newer) Web browser application and a document scanner. Options exist for companies with no scanner, however, may require a few extra steps in the process.

Interested companies are asked to visit www.kloudtrack.com/phoenix and enter their basic information. Alternatively, kloudtrack® sales representatives can be contacted via telephone at 240-499-3832 or via e-mail to jlevine@kloudtrack.com. Payment is required for the database set-up fees at time of service activation. Ongoing data storage fees will be charged on a monthly usage basis.

About kloudtrack®

kloudtrack® is a technology and solution services company that offers simple, yet powerful and affordable, hosted Software-as-a-Service (SaaS) compliance, workflow and risk mitigation technologies. kloudtrack® is one of the first technology and solution providers to make it affordable for small to mid-size enterprises (SMEs) to employ comprehensive BPM/workflow automation technologies using SaaS cost-savings while also addressing specific federal, state and industry-imposed regulatory compliance standards.

This understanding and integration of compliance factors truly sets kloudtrack® technologies, solutions and intellectual property apart in the market.

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OnOctober 23, 2017, posted in: Press Releases by