Cisco, kloudtrack® and George Mason University Team to Deliver Innovation Sandbox for Government and Education Sectors

Sandbox Centers Create ‘Proving Grounds’ Where Government and Commercial Organizations Can Test Innovation Viability for Real-World Use-Cases and Bottom-Line Results

 

#GovFest, WASHINGTON DC, (September 25, 2017) – kloudtrack® a leader in cloud computing technologies and solution services for sensitive data, process management and Governance, Risk and Compliance (GRC) today announced a teaming relationship with George Mason University (GMU) and Cisco Systems (NASDAQ: CSCO) to establish the first Innovation Sandbox™ exchange catering to the innovation and technology road-mapping needs of government/public sector and education organizations.

 

Dr. Don Gantz (Center), Chair of the Applied IT Dept. of GMU's Volgenau School of Engineering, joins kloudtrack CEO | president Michael Binko (right) and GMU's Brett Berlin in announcing the first Innovation Sandbox for Public Sector/Government and Education communities at #GovFest.  More than 1400 government IT decision makers and industry representatives attended the first of its king festival-type event in Washington DC.

Dr. Don Gantz (Center), Chair of the Applied IT Dept. of GMU’s Volgenau School of Engineering, joins kloudtrack CEO | president Michael Binko (right) and GMU’s Brett Berlin in announcing the first Innovation Sandbox for Public Sector/Government and Education communities at #GovFest. More than 1400 government IT decision makers and industry representatives attended the first of its king festival-type event in Washington DC.

 

 

This Innovation Sandbox, which will be located on GMU’s Fairfax, VA campus just outside Washington DC, is being developed jointly by kloudtrack, Cisco and GMU’s Department of Applied IT which is part of the Volgenau School of Engineering.  This Innovation Sandbox will allow organizations to test a variety of innovative technologies and/or methodologies in a “sandbox” environment.

 

As with all Innovation Sandbox environments, the GMU sandbox will be provisioned in-tandem with selected partners that offer technologies and solutions in a variety of innovation categories (examples follow):

 

  • Cloud Computing | Cloud Migration | Cloud 2.0™
  • Innovation Roadmapping
  • Cyber | InfoSecurity
  • Data Driven Innovation™ (Data Analytics | Big Data | Reporting)
  • Mobility (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)

 

“Organizations in public sector, education as well as commercial ranks have become very risk-minded with regards to IT strategies and budgets,” stated Donald T. Gantz, PhD and Chair of the GMU Applied IT Department. “No matter if the risk is mission-oriented or a result of the sequested procurement environment the results are the same.  IT decision makers are becoming very selective and justifiably taking a use-case approach to purchases.  The Innovation Sandbox concept allows these communities to bring their mission needs to a team of vendors and project analyst specialists with a goal to assess, identify, prioritize and roadmap innovations that meet critical objectives,” added Gantz.

 

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.

 

“With standards such as the NIST Cloud Reference Architecture and more recently FedRAMP driving easier portability, organizations can now consider best-of-breed offerings when considering and procuring IT solutions,” stated Jan M. Levine, founder | CTO for kloudtrack®.  “The Innovation Sandbox environments are designed to give organizations the opportunity to test waters with a Start Small … and Scale™ approach with keen sensitivity to limited resources and measurable results,” added Levine.

 

Deployments are expected to run on sandbox systems for a period of weeks or months at small costs.  During these test-bed deployments 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 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.  The challenges we’ve heard have centered around finding vendors/technologies that work well together and are able to be deployed quickly on a small-scale with limited resources.  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)
  • Financial Services (securities-insurance, banking, capital markets, deal-flow)
  • Cyber Security
  • Healthcare | Medical | Life Sciences | Pharma
  • Manufacturing (3-D printing, rapid prototyping, operational efficiency, logistics)
  • Energy | Utilities | Telecom
  • Property | Asset Management
  • Retail | Consumer

 

By the end of 2013, 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, 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 240-499-3844 or nmumma@kloudtrack.com.

# # #

 

About kloudtrack®

Headquartered in Annapolis, MD kloudtrack® is a Software-as-a-Service and cloud computing (SaaS|Cloud) company that integrates best-practice management with cybersecurity and audit-trails that place a premium on monitoring users, transparency and collaborations as they relate to sensitive data assets and processes.

 

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 such as fin-serv (SEC/FINRA/Basel Accords), health-medical (HIPAA/CCHIT/REMS) and government (FIPS/FISMA/FedRAMP) among others. This understanding and integration of GRC factors and certifications set kloudtrack® technologies, solutions and IP apart in the market.  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 George Mason University (Where Innovation is Tradition)

Located in Northern Virginia near Washington, D.C., George Mason University is an innovative, entrepreneurial institution with global distinction in a range of academic fields.   Within Virginia’s largest university, the GMU Volgenau School of Engineering is home to more than 5,000 undergraduate and graduate students and consists of seven departments: Applied Information Technology; Bioengineering; Sid and Reva Dewberry Department of Civil, Environmental and Infrastructure Engineering; Computer Science; Electrical and Computer Engineering; Statistics; and Systems Engineering and Operations Research.

 

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OnOctober 10, 2017, posted in: Press Releases by

kloudtrack® and Cisco® Deliver Innovation Sandbox™ Environment for Several Industries

Sandbox Centers Create ‘Proving Grounds’ Where Government and Commercial Organizations Can Test Innovation Viability for Real-World Use-Cases and Bottom-Line Results

 

ANNAPOLIS, MD and SAN JOSE, CA, (September 16, 2017) – kloudtrack® a leader in cloud computing technologies and solution services for sensitive data, process management and Governance, Risk and Compliance (GRC) today announced a relationship with Cisco (NASDAQ: CSCO) to develop Innovation Sandbox™ exchanges that will allow organizations to test a variety of technologies and/or methodologies in a “sandbox” environment.

Organizations of any size are invited to bring "use cases" for innovation to the kloudtrack | Cicso Innovation Sandbox environments to test real-world results on a small-scale before committing significant IT budgets to new technologies/methodologies.

Organizations of any size are invited to bring “use cases” for innovation to the kloudtrack | Cicso Innovation Sandbox environments to test real-world results on a small-scale before committing significant IT budgets to new technologies/methodologies.

Each Innovation Sandbox will be provisioned in-tandem with selected partners that offer technologies and solutions in a variety of innovation categories (examples follow):

  • Cloud Computing | Cloud Migration | Cloud 2.0™
  • Innovation Roadmapping
  • Cyber | InfoSecurity
  • Data Driven Innovation™ (Data Analytics | Big Data | Reporting)
  • Mobility (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)

 

“Now, more than ever, the driving factors behind IT deployments have become more economic than technical,” stated Michael Binko, president | CEO for kloudtrack®.  “The advent of innovations such as cloud, virtualization and mobility mean the vendor landscape is much more diverse.  Additionally, with standards driving easier portability, organizations can now consider best-of-breed offerings when considering and procuring IT solutions.  The Innovation Sandbox environments are designed to give these organizations the opportunity to test these waters with a Start Small … and Scale™ approach with keen sensitivity 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 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 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.  The challenges we’ve heard have centered around finding vendors/technologies that work well together and are able to be deployed quickly on a small-scale with limited resources.  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, nonetheless, initial efforts will concentrate around the following sectors:

 

  • Public Sector | Government | Education (federal, state, municipal, local)
  • Financial Services (securities-insurance, banking, capital markets, deal-flow)
  • Cyber Security
  • Healthcare | Medical | Life Sciences | Pharma
  • Manufacturing (3-D printing, rapid prototyping, operational efficiency, logistics)
  • Energy | Utilities | Telecom
  • Property | Asset Management
  • Retail | Consumer

 

By the end of 2013, more than 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, 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 240-499-3844 or nmumma@kloudtrack.com.

# # #

 

About kloudtrack®

Headquartered in Annapolis, MD kloudtrack® is a Software-as-a-Service and cloud computing (SaaS|Cloud) company that integrates best-practice management with cybersecurity and audit-trails that place a premium on monitoring users, transparency and collaborations as they relate to sensitive data assets and processes.

 

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 such as fin-serv (SEC/FINRA/Basel Accords), health-medical (HIPAA/CCHIT/REMS) and government (FIPS/FISMA/FedRAMP) among others. This understanding and integration of GRC factors and certifications set kloudtrack® technologies, solutions and IP apart in the market.  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.

 

Keywords:

Innovation Sandbox, kloudtrack, kloudexchange, KISTrack, Technology, GRC, Governance, Compliance, Data Management, Software as a Service, software-as-a-Service, SaaS, Cloud, Cloud Computing, Software, Practice Management, Health, Hospitals, Information Technology, Data Management, Data Solution, Innovation, Risk Management, Risk Mitigation, Risk, Transparency, Audit, Data Solution, Healthcare, Medical, Meaningful Use, Health, Hospitals, Information Technology, Practice Management, Software, Telecommunications, ARRA, Stimulus, EMR/HER, FedRAMP, SAJACC.

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OnSeptember 16, 2017, posted in: Press Releases by

Start Small … and Scale™ — Because You Can in the Cloud

Best-Practices and Compliance Don’t Have to Involve Big IT Budgets

kloudtrack® Case Study Overview

Technologies and Services:

SaaS | Cloud platform for data and process management

Solution Services related to Governance, Risk and Compliance (GRC)

kloudtrack® Modules:

kloudflow

kloudfile

kloudexchange™

Industry:

Financial Services

(GRC) Governance, Risk Mitigation, Compliance

Organization(s): 

Lincoln Financial Network/Lincoln Securities Corporation

stop | think | go | kloud 

ROI Benchmarks in Financial Services are Proving the Value of SaaS|Cloud for Data Management, Workflow, Archiving/Retrieval, GRC, Supervisory Processes and Best-Practice Management

The emergence of sophisticated Cloud 2.0™ Software-as-a-Service and Cloud Computing (SaaS | Cloud) platforms is allowing enterprise management teams to quickly and efficiently deploy applications and capabilities that were traditionally only available from a “big iron” provider and at price levels that usually start in the 6-figure range per year.

Two operational areas that are at the center of this market evolution are compliance and risk management. With all the buzz about SaaS and the ROI benefits, we wanted to pause for a moment and take a closer look at an example of how this type of technology is directly benefiting owners/principals, CCOs, COOs, compliance and legal teams as well as IT professionals in specific market sectors.

This ROI Benchmark Case Study comes out of the Financial Services industry – the securities broker-dealer community to be exact – and relates directly to the use of SaaS platforms in instances of regulatory audit.

Compliance, Risk Mitigation and Audit Response Fertile Ground for SaaS Technology ROI

This kloudtrack® ROI Benchmark Case Study comes out of the Financial Services sector; however, the business issues – business process management, document archiving/retrieval, workflow, compliance, risk mitigation and best-practices –are exactly the same for just about any industry segment.

At the time of the study, Alan Pransky was a producing representative and registered principal for Patriot Financial. With offices located throughout New England, Patriot is one of the fastest-growing regional financial management firms in the region.  In addition to operating multiple branch offices throughout the greater-Boston area, Patriot also serves as an Office of Supervisory Jurisdiction (OSJ) for broker-dealer Lincoln Securities Corporation (LSC).

As is usual for branch offices of large independent broker-dealers (IBDs), Patriot is regularly reviewed by broker-dealer “home office” compliance officers and is also required to adhere to regulations and guidelines of the Financial Industry Regulatory Authority (FINRA, formerly NASD), state regulators and the Securities Exchange Commission (SEC).

When regulators request information, Alan and his team members have 24 hours to research and acquire the necessary information and then transmit it to the home office. Since these requests are always unexpected they cannot be budgeted for and, as such, require additional costs to the office and the individual.

Over the past 2 years, Patriot and the broker-dealer’s home office corporate compliance and IT teams reviewed and approved various solutions, including kloudtrack® SaaS|Cloud technologies, for use at their branch and OSJ offices for books and records maintenance, written supervisory procedures (WSPs), compliance, risk mitigation and to assist with ensuring best-practices related t0 business process management (BPM).

Shortly after this corporate approval, Patriot deployed the two primary kloudtrack® Modules – kloudfile™ and kloudflow™ – in a pilot program designed to address data/document management, WSPs, workflow/business process management, compliance and risk mitigation.

Using the kloudtrack® kloudfile Module, Patriot immediately began converting hardcopy account records into digital data using basic OCR scanners and easily uploading the information to the kloudtrack® SaaS |Cloud platform.

Beyond simple electronic storage, kloudtrack® incorporates complex search and retrieval functions and full workflow capabilities (kloudflow Module) that allow team members and executive management alike to share records in a secure environment with an audit trail of accountability built-in.

“In March, we were having our quarterly compliance meeting when we were notified during the meeting that a recent FINRA Home Office Audit had selected several of our variable annuity accounts for further review under FINRA compliance guidelines.  We conducted a Benchmark ROI Study for that single regulatory review instance and calculated a hard-dollar savings of more than $4,000 when the metrics of lost business and down-time various team members were calculated.”

Since kloudtrack® was implemented my sales productivity has tripled over the same period of the previous year. 

“On the Clock” – Timeliness a Key Factor in Compliance Audit/Risk Mitigation … 

In March, we were having our quarterly compliance meeting when we were notified DURING THE MEETING that a recent FINRA Home Office Audit had selected several of our variable annuity accounts for further review under FINRA compliance guidelines.”

 — Alan Pransky, Patriot Financial

In this instance, before the end of the meeting the home office person who was also in attendance informed Alan that, utilizing kloudtrack®, home office personnel were able to find all of the documentation they needed to submit to the FINRA.

“Normally, I would have had to travel the next morning to our OSJ location – which is more than 70 miles away – to begin the tedious tasks of researching and assembling information to comply with the regulators’ requests.  Keep in mind, these 1.5 hours of travel each way would be billed to the OSJ and are unproductive time for both me, as I am a producer, and the OSJ.  Use of kloudtrack® basically eliminates my need to travel to the OSJ as I can do virtually all of my work remotely,” added Pransky.

What could have been a hectic 24-hour period for Alan, his office administrator and various additional Patriot producer-reps ended up requiring absolutely no time to resolve.

“Before kloudtrack®, each time there was a surveillance request we would have to stop to research the matter and/or contact the representative. Then, we would have to copy the material and send it to the home office examiner.  This whole process could take half an hour or more and could occur several times each month. One of the best parts of the story is that by the very nature of kloudtrack® being SaaS|Cloud we were able to do all the work remotely,” continued Pransky.

 

Productivity ROI Already Included

Beyond the risk mitigation, compliance/audit preparation and response, Patriot has also tallied considerable savings from a productivity perspective during the kloudtrack® deployment – more than $1000 per month in additional hard-cost courier, delivery and postage fees alone – through greater productivity and by being able to put client investment dollars to work quicker.

Highlighting this point Alan emphasized, “Since kloudtrack® was implemented my sales productivity has tripled over the same period of the previous year.”  This was in large part because of his ability to remain in his office where his personal productivity is the greatest by utilizing the remote access features of kloudtrack®.

“The value-proposition of this type of capability cannot be emphasized enough and quickly garnered the attention of Patriot’s owners and the executive teams at the broker-dealer home office. Essentially, in just one review/audit instance the ability to efficiently organize our data from the moment an account is generated, combined with the ability to respond quicker and involve fewer internal employees during such reviews and audits, more than paid for the monthly kloudtrack® technology costs,” added Pransky.

Start Small and Scale

Industry analysts such as Gartner, Forrester and IDC agree that many businesses — particularly in the SME or mid-market — should be taking a closer look at their business processes and the new landscape of SaaS and outsourced enterprise applications.   The total cost of ownership (TCO) is often very low and the return on investment (ROI) is often realized in a very short period of time.  At a fundamental level, the benefits of SaaS platforms address both the goals of senior management and the best-practice needs of compliance and IT departments.

Also, adoption of SaaS | Cloud applications can begin small and scale infinitely so, go ahead pick a “pilot” program, develop some tangible metrics for ROI success and execute. You might be surprised how easy and effective these technologies can be.

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OnJuly 25, 2017, posted in: Case Studies by

IT Best-Practices Don’t Have to Involve Big Dollar Budgets

by Michael P. Binko, president and CEO, kloudtrack®

In recent issues of The KADRE™, we’ve taken a look at how federal, state and industry-mandated regulations are changing the way business needs to be done for the majority of small and medium enterprise (SME) businesses – no matter what industry they operate in.

We’ve also taken the 100,000 foot view of the changing landscape for enterprise software and how the emergence of SaaS and open-source technologies is opening a window of opportunity for SMEs.

This shift to Web-based/outsourced software allows SME management teams to quickly and efficiently deploy applications and capabilities that were traditionally only available from a “big iron” provider and at price levels that usually started in 6-figures per year.

This month, we’re going to take a closer look at an example of how this type of technology is directly benefiting owners, CEOs, COOs, compliance teams and IT professionals in the middle- market.

The case study comes out of the Financial Services sector; however, the business issues – business process management, document archiving/retrieval, workflow, compliance and best- practices – are exactly the same for just about any industry segment.

Alan Pransky is principal, partner and the defacto Chief Compliance Officer (CCO) for Patriot Financial. Headquartered in Boston, MA and with locations throughout New England and the Northeastern U.S., Patriot is a branch Office of Supervisory Jurisdiction (OSJ) for Lincoln Securities Corporation (LSC).  LSC is a securities broker-dealer which is part of the Lincoln Financial Network family of financial services companies.  Lincoln has more than 400 branch offices similar to Patriot.

Being an OSJ, Patriot is regularly audited by both Lincoln internal compliance officers, auditors from the Financial Regulatory Authority (FINRA) and audit/enforcement teams from the Securities Exchange Commission (SEC). During a typical audit, Alan and his team have less than 24 hours to turn-around answers or information that relate to specific questions asked by auditors — and the clock begins running as soon as the office is notified of the impending audit.  As a result, Alan and his team usually budget for between 12 and 24 hours of down-time per audit.

Earlier this year, Lincoln corporate IT teams reviewed and approved various technologies, including SaaS|Cloud technologies, for use at their branch and OSJ offices for audit response and risk mitigation. Patriot, which is one of the largest Lincoln OSJ offices, quickly deployed kloudtrack® which is a comprehensive suite of BPM, document management, workflow and compliance tools integrated into a SaaS technology offering.

Patriot immediately began converting hard-copy account records into digital data using OCR scanning and simply uploading the information to the SaaS|Cloud platform. Beyond simple electronic storage, kloudtrack® incorporates complex search and retrieval functions and a full workflow capability that allows team members and management to share records in a secure environment with an audit trail of accountability baked-in.

In March, Alan was on a business trip when he was contacted by his office manager stating that an auditor arrived at their Boston offices and wanted to begin a full audit of Patriot’s new account activation and records retention processes. Alan simply had the office manager to walk the auditor through the kloudtrack® database and instructed her to also create a temporary user account that the auditor could use to access and review Patriot records via the Internet.

To make a long story short, the auditor was so impressed with Patriot’s organization that the audit was concluded in less than an hour.  Alan estimated the hard-dollar savings during that single audit to be more than $4,000. To put that into perspective, Alan’s full SaaS | Cloud software costs for a year are less than $3,000. Beyond the audit preparation and response, Patriot has also tallied considerable savings on a daily basis through greater productivity and by being able to put client investment dollars to work quicker.

In summary, SME or mid-market businesses should take a closer look at their business processes and the new landscape of outsourced enterprise applications.  The total cost of ownership (TCO) is often very low and the return on investment (ROI) is often realized in a very short period of time.

Also, adoption of SaaS | Cloud applications can begin small and scale infinitely so, go ahead, pick a “pilot” program, develop some tangible metrics for success and execute.  You might be surprised how easy and effective these technologies can be.

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OnJuly 16, 2017, posted in: Recent Articles by

Financial Serivices: Financial Services Firm with 6 Branch Offices and 40+ registered Reps

OUR CLIENT’S CHALLENGES

To process their clients’ applications, make trades on behalf of their clients, or invest in mutual funds, all of the paperwork must be sent in hard copy to the central Office of Supervisory Jurisdiction for suitability assessments and approvals. The mail delivery alone causes delays in processing and incurs a real “dollar cost”. However, their approval process is further complicated by the fact that the person authorized to make the approvals must travel an hour each direction between his office and HQ to put his signature on the documentation.

At best, this scenario takes several days; if someone is out of town or they miss the mail drop-off for whatever reason, it is even longer. The end result is that the client’s investment cannot be put to good use in a timely fashion and their staff’s commissions are delayed.

kloudtrack® SOLUTION

Utilizing kloudtrack®, each branch office now can upload the investment documentation electronically from their Internet-based PC which the New Business Manager can access immediately online. She then creates an electronic “workbasket” with the appropriate forms and directs it to the “supervisor” for PIN approval. This process can be done in a matter of minutes, without incurring any additional mail/courier/overnight fees. However, kloudtrack®, takes it one step further.

Now, they have a permanent audit trail of who received AND acted on what documentation and when. In the event information is missing from a form, the supervisor can redirect the workbasket back to the appropriate office, provide his comments, and receive immediate notification when the completed form is ready. No longer can someone in the “route” claim that they didn’t see it or that they weren’t told what was needed. The permanent record is burned into the Ultra Density Optical drives of kloudtrack®,.

kloudtrack®, provides management oversight to a cumbersome process which was previously lacking.

  • It relieves the administrative burden of making copies, and preparing and waiting for mail packages before the next step can be completed.
  • It gives them flexibility to do their job regardless of their location.
  • It gives them the confidence that when the NASD and SEC come to the door with an audit request, they can provide the necessary documentation quickly and efficiently to prove they performed their job.

All of which result in COST & TIME SAVINGS and CLIENT SATISFACTION.

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OnJuly 25, 2016, posted in: Case Studies by

Is Your Legal House in Order?

Supreme Court eDiscovery Ruling Impacts Data Management Strategies for Businesses — from Fortune 500s to Mom-and-Pops

Michael P. Binko, APR — CEO and President, kloudtrack®

Early in the new 2000 Millennium a few very critical changes to the Federal Rules of Civil Procedure (FRCP) were turned into law when the Supreme Court ruled that the collection-of and availability-to electronically stored information (ESI) must be made available to litigants in civil court proceedings.

At that moment, the landscape for future litigation/arbitration and the manner in which businesses of all sizes handle data archives changed significantly.

The amendments to the FRCP, which are often collectively referred to as the eDiscovery Ruling, establish best-practices and processes related to ESI and point to the significance of ESI in the discovery process of civil proceedings. The eDiscovery Ruling goes on to identify various ways that information and archived data must be made available to counsels during discovery periods and emphasizes how technologies can play a critical role in determining adherence to the rulings or legal liability.

Broad Impact Across Industry Sectors
The eDiscovery Ruling has impact across all business sectors, however, is particularly important for industries that are prone to litigation, consumer watch-dog groups and/or regulatory scrutiny.

Recent market research, such as the annual Socha-Gelbmann Electronic Discovery Survey, show that more than half of CIOs and information technology (IT) managers at most companies, do not even realize they and their company-employers could now be found guilty of “virtual shredding” simply as a by-product of the way they back-up or store information.

No longer can an IT team simply re-use or record-over archived data on a regular basis. Instead, a formally identified regimen of business rules, processes, workflow and document management is now suggested for all companies. Information (documents, e-mails, communications, etc.) now must be archived for a reasonable period of time and accessible to counsels on both sides of the table during discovery stages of litigation.

New Sheriff in Town
While it is clear that the eDiscovery Ruling opens the door for adverse impact on companies that might be sued or involved in legal situations. The good news is that the Supreme Court has also given fairly straight-forward guidelines as to how businesses can protect themselves and become less at-risk by “policing” their own database technologies, workflow/business process management techniques and various IT archiving strategies.

While the eDiscovery Ruling and the resulting tasks for CEOs/CIOs and IT teams may seem like a grim cloud of Big Brother scrutiny, the good news is that technology solutions such as Software- as-a-Services (SaaS) offer eDiscovery support at affordable costs and with significantly more flexibility than traditional enterprise software – particularly for small-to-medium enterprises (SMEs).

Obviously, Fortune 500 behemoths are able to prepare and defend against these concerns with their large IT budgets and armies of IT staffers. In addition, the eDiscovery rulings have little impact on companies that have already given ample consideration to risk mitigation from a legal perspective as these businesses likely already have technology road-maps and best-practice strategies in place.

Companies finding themselves on the outside-looking-in can quickly catch up; however, great care should be taken in planning and implementation. The devil truly is in the details and challenges will continue to be squarely placed on SMEs to plan and police properly.

Cost is Not the Issue — Team Approach is Critical
Given new technology platforms such as SaaS, ASP and outsourced solution services, IT costs are no longer the critical factor in enterprise process management and should not be a limiting factor for eDiscovery compliance. Instead, the fundamental aspect of preparation, planning and implementation for eDiscovery, just as with most other business challenges, is teamwork.

Executive, Legal, Operations, IT and possibly even Board members all need to be active in mapping out the strategies and ensuring proper rollout of best-practices. In fact, many companies who begin to look at their operations for eDiscovery find that their IT and other teams also quickly realize that many areas of their business would experience significant productivity gains through better data management, workflow and business process management.
So, while the effort to address eDiscovery is not minimal, the task affords an opportunity to take a step back and look at your business from a broader perspective.

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OnJuly 16, 2016, posted in: Recent Articles by

kloudtrack® NAMED BEST INFORMATION TECHNOLOGY COMPANY AT INCUBATOR COMPANY OF THE YEAR AWARDS

ICOY Awards Recognize Achievements by Incubators and Early Stage Companies

 

BALTIMORE, June 7, 2016 – kloudtrack®, a leader in Cloud Computing technologies and solution services for Governance, Risk and Compliance (GRC), was named Best Information Technology company at the 2011 Incubator Company of the Year Award (ICOY) ceremony on June 2.  This award publicly recognizes the accomplishments of companies involved in data management, wireless communication, and other forms of information technology and provides a forum for the nominees to increase their visibility in business, technology, and investment communities.

”The ICOY awards are recognized as one of the most competitive technology innovation awards in the region,” stated Jan M. Levine, founder and Chief Technology Officer (CTO) for kloudtrack®“Past ICOY winners include some of the most successful venture development and early-stage technology successes on the East Coast and we are delighted to have been selected as an innovation leader – particularly given the quality of this year’s other finalists.”

Finalists and winners were chosen by a cross-section of the region’s prominent industry leaders and early-stage investors.  Awards were given based on success in achieving business objectives and developing innovative and disruptive technologies/products. Other criteria considered were growth in revenue, number of customers and significant customers, technology transfer, attraction of outside investors, and impact on the region.

“We are very proud of kloudtrack® for winning the ICOY award,” said Sarah Djamshidi, executive director of the Chesapeake Innovation Center and president of Maryland Business Incubation Association.  “This award is in recognition of the hard work, dedication and passion of the entrepreneurs and management team of the company, developing next generation  technology and solution offerings.  Given the company’s focus on Cloud 2.0 and GRC, kloudtrack® is truly in a unique position to capture mind-share and market-share in several of the most lucrative vertical industries – particularly financial services, healthcare, pharma, and government – the latter being a market sector we at the CIC know intimately.”

Sponsored by Maryland Technology Development Corporation (TEDCO), RSM McGladrey and Saul Ewing LLP, Maryland Incubator Company of the Year Awards acknowledge achievement by incubators and early stage companies to successfully develop and launch their products and services.  By providing a forum for innovative companies ICOY awards goal is to increase visibility of these companies to potential investors and customers.

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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.

kloudtrack® is a Chesapeake Innovation Center (CIC) portfolio-company and was also selected by Microsoft® Corporation for its Startup Accelerator Program – an initiative that highlights companies developing unique and innovative technologies on Microsoft platforms.  Learn more at www.kloudtrack.com or contact the company directly at 240-499-3832 or jlevine@kloudtrack.com.

About Chesapeake Innovation Center

The Chesapeake Innovation Center, located in Anne Arundel County, Maryland, is a unique business accelerator that focuses the power of entrepreneurship on America’s most pressing security requirements.  By creating a bridge between major users of security technology and small companies at the forefront of innovation, the CIC, its partners and member companies are able to offer significant advancements in the areas of informatics, physical and cyber security technologies.  CIC recruits and mentors early stage technology companies and provides these member companies with services to help them address the needs of growing companies including customer contracts, funding, staffing, subject matter experts, clearances, government contracting issues, and office facilities.  The CIC is a program of the Anne Arundel Economic Development Corporation. For more information, please visit cic-tech.org.

Keywords:

Kaulkin Information Systems, kloudtrack, KISTrack, Technology, GRC, Governance, Compliance, Data Management, Software as a Service, software-as-a-Service, SaaS, Cloud, Cloud Computing, Software, Practice Management, Health, Hospitals, Information Technology, Data Management, Data Solution, Innovation, Risk Management, Risk Mitigation, Risk, Transparency, Audit, Data Solution, Healthcare, Medical, Meaningful Use, Health, Hospitals, Information Technology, Practice Management, Software, Telecommunications, ARRA, Stimulus, EMR/EHR.

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OnJune 21, 2016, posted in: Press Releases by

eCast and kloudtrack® Team to Deliver Combined Electronic Health Record (EHR/EMR) and Health Information Exchange (HIE) Technologies to Medical Data Stakeholders

Raleigh, NC and Annapolis, MD (May 25, 2016) – eCast Corporation, a leader in electronic medical records (EMR) software and clinical integration products and services, and kloudtrack®, a leader in Information Exchange (IE) and governance/risk/compliance (GRC) technologies, today announced a strategic relationship at the SIIA All About the Cloud conference in San Francisco, CA.  This partnership will enable customers in healthcare/medical, pharmaceutical and related life science sectors to exploit the best of both companies’ core strengths through coordinated marketing, sales and services activities.

“Our partnership with kloudtrack® and their IE platform (branded as kloudexchange) is an incredible opportunity for the marketplace,” said Peter Bechtel, president and CEO of eCast Corporation. “This is the first combination of a Health IE integrated with EHR/EMR that we have ever seen.”

In support of the agreement the foundation of the partnership is a joint marketing arrangement between the two companies. eCast and kloudtrack® will jointly market their combined HIE+EMR product offering to IPAs, hospitals, physician organizations and other integrated delivery systems at a time when traditional IT automation options are cumbersome, costly and incomplete.

“Together with eCast, we are setting a standard of data management, process improvement and compliance that is unmatched in the industry today,” said Michael Binko, president and CEO of kloudtrack®. “This announcement with eCast emphasizes our commitment to bring disruptive technologies to markets that have been grossly underserved by status-quo IT vendors.  We are very pleased to be able to offer these solutions now because they are long overdue for the healthcare industry.”

eCastEMR Version 8.0 and kloudtrack® Version 5.1 are Comprehensive Meaningful Use certified products that directly address the ARRA requirements of Meaningful Use as well as Accountable Care.  eCast was first certified in 2007 and then became Meaningful Use certified in 2011 while kloudtrack® was formally certified* in 2010.

About kloudtrack®: Headquartered in Annapolis, MD kloudtrack® is a Software-as-a-Service, cloud computing (SaaS|Cloud) company offering Governance, Risk Management and Compliance (GRC) technologies and solutions for Business Process 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.

About eCast Corporation: eCast Corporation was established in 1999 as a healthcare informatics company that uses software and technology to enrich doctor networks with state-of-the-art-tools. eCast has a team of highly motivated employees dedicated to providing the best solutions and services available in the industry. The company’s strength is generated from its commitment to clients, industry, shareholders, and employees.  eCast offers innovative solutions for large organizations of physicians such as IPAs, PHOs, MSOs, ACO’s and other integrated systems. Ranging from clinical integration to disease risk management to a Certified Health Information Exchange, eCast has the software solutions physician groups need and can afford.

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Keywords:

Kaulkin Information Systems, kloudtrack, eCast, KISTrack, Technology, GRC, Governance, Compliance, Data Management, Software as a Service, software-as-a-Service, SaaS, Cloud, Cloud Computing, Software, Practice Management, Health, Hospitals, Information Technology, Data Management, Data Solution, Innovation, Risk Management, Risk Mitigation, Risk, Transparency, Audit, Data Solution, Healthcare, Medical, Meaningful Use, Health, Hospitals, Information Technology, Practice Management, Software, Telecommunications, ARRA, Stimulus, EMR/EHR.

*   kloudtrack® 5.1 was inspected by the Certification Commission for Health Information Technology (CCHIT®) in February 2010 and is preliminary certified EHR technology, meeting 2 of 24 requirements for Eligible Providers published by the U.S. Department of Health and Human Services (HHS) in its Interim Final Rule. The certification criteria in the interim rule were superseded by criteria in the Final Rule published by HHS on July 28, 2010.  Use of kloudtrack 5.1 would not qualify an eligible healthcare provider to apply for federal incentive payments as described in the American Recovery and Reinvestment Act (ARRA).  Numerous factors relate to ARRA stimulus reimbursement.

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OnJune 21, 2016, posted in: Press Releases by

kloudtrack® INTRODUCES DEAL-FLOW TOOLKIT™ VERSION OF kloudtrack® SaaS TECHNOLOGY

Toolkit Offers Teams in Private Equity, Asset Management, Credit/Lending, M&A and Other Deal-centric Markets Ability to More Actively Monitor and Manage Deal-flow

ROCKVILLE, MD – April 22, 2016 – kloudtrack® today announced general availability of its kloudtrack® Deal-Flow Toolkit™ (DFT) technology which was showcased at the ACG InterGrowth Conference in Orlando, FL.

The kloudtrack® Deal-Flow Toolkit is a specialized version of the company’s kloudtrack® SaaS-based workflow, document management, compliance and risk mitigation platform.  The kloudtrack® Deal-Flow Toolkit allows principals, partners, chief compliance officers (CCOs), chief information officers (CIOs) as well as operational and due diligence deal teams to more actively share data and monitor deals at all stages.

“The Deal-Flow Toolkit version of kloudtrack® was developed after we were approached by leading private equity firms that needed more sophisticated, yet cost-effective, technologies that would allow their deal teams to take more direct control of opportunities and partner relationships,” stated Michael P. Binko, president and CEO of kloudtrack®.  “Deal-flow communities thrive in perhaps the most unique and dynamic business sector.  In this fast-paced environment, access to vital information and the timeliness of its exchange with critical deal players typically makes or breaks any deal opportunity.”

Most deal-related businesses keep staff to a minimum while relying on third-party vendors or service providers such as legal, accounting, and strategic advisors throughout deal life-cycles.  Being SaaS and Internet-based, it does not matter if kloudtrack® users are internal staff or third-party employees.  Access to information is assigned to users at varying levels which controls exactly what data users can see and what each user can do with such data.  This tiered user structure also controls which kloudtrack® tools are available to each individual user and the costs associated with accessing the system.

kloudtrack® capabilities can be deployed very quickly without hard-costs of new equipment, additional IT staff or maintenance.  This “low overhead” aspect of the technology makes KloudTrack a definitive platform for both large and small deal-flow enterprises.

The kloudtrack® Deal-Flow Toolkit is an ideal platform for growth-oriented firms and provides immediate benefits in numerous deal-flow sectors including:

Private Equity
Hedge Funds
Mergers and Acquisitions
Credit Issuers/Portfolio Buyers
Banks/Lenders (consumer, commercial or specialty)
Capital Markets
Asset Management
Broker-Dealers
Development/Capital Improvements Projects
Venture Capital
Franchise Development
Fundraising (associations, non-profits, foundations, PACs, etc.)
“The primary ROIs associated with the kloudtrack® Deal-Flow Toolkit include staff productivity, greater deal visibility, support for greater competition in multiple bidder scenarios, streamlined business workflows, anti-collusion tools, and greater support for comprehensive deal due diligence,” added Binko.

Beyond simple monitoring of data, users and business rules, the kloudtrack® Deal-Flow Toolkit incorporates tools such as document management, e-mail and message archive/surveillance, audit trails and reporting capabilities that provide critical knowledge to decision makers.  This information directly relates to increased deal-flow, better deal terms and higher deal margins.

ROI Benchmark Case Studies associated with deployments of KloudTrack in deal-flow, risk management and compliance situations are highlighted in white papers available from KIS.  Just point your Web browser to www.kloudtrack.com/articles  to find out more.

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.  KIS was recently selected by Microsoft® Corporation as a portfolio-company in the Microsoft Startup Accelerator Program – an initiative that highlights companies developing unique technologies on Microsoft platforms.

kloudtrack® is one of the first technology and solution providers to address specific international, federal, state and industry-imposed regulatory compliance standards.  This understanding and integration of compliance and risk management factors truly sets kloudtrack® technologies, solutions and intellectual property apart in the market.

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OnApril 22, 2016, posted in: Press Releases by

Sixon Capital Selects kloudtrack® Technology as a Private Equity Deal-Flow Toolkit™

ROCKVILLE, MD and HUNT VALLEY, MD – March 3, 2016 – Sixon Capital, the mid-market private equity arm of Sixon Group, LLC, today announced that it has selected thekloudtrack® technology platform as the foundation for an updated Deal-flow Toolkit™. Under the technology deployment, the kloudtrack® Deal-flow Toolkit is being used by both internal Sixon deal-teams as well as by third-party legal, accounting, lending and other deal-related service providers with whom Sixon conducts business.

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), workflow, document management, compliance and risk mitigation technologies.
“Just two weeks before the beginning of year, we deployed kloudtrack® here in our Baltimore, MD-area headquarters and within 6 weeks our deal-teams had closed a $62.3 million deal that had previously been stalled for more than 12 months – and kloudrack was the reason,” stated Peter LeBoutillier, president and managing principal of Sixon Group, LLC.

kloudtrack®, the company’s flagship technology offering, integrates multiple SaaS application “modules” designed to address a wide variety of business needs particularly for enterprises in heavily-compliant and regulated industries. Beyond simple enterprise productivity the kloudtrack® platform incorporates support for:

  • workflow/business process management (BPM)
  • indepth dash-boarding, analytics and reporting
  • e-mail/IM communication surveillance and archiving
  • disaster recovery/business continuity
  • integration with legacy systems
  • document management/sharing
  • sophisticated archive/search/retrieval functions and
  • electronic check-processing and related electronic transaction services

Sixon has deployed the kloudFlow™, kloudFile™ and kloudBatch™ modules of kloudtrack® and has also contracted the kloudtrack® Solution Services team for critical IT integration projects.

“We were impressed with how quickly and efficiently our deal-teams were able to get up and running on the system. In fact, that previously-stalled deal was transacted while our team was still going through elements of the training process with kloudtrack® account teams. ROIs from our kloudtrack® deployment were immediate and profound and cut across all aspects of the kloudtrack® solution including usability, scalability, security, customization and total cost of ownership (TCO),” added LeBoutillier.
Elements of an ROI Benchmark Case Study associated with Sixon’s deployment of KloudTrack are highlighted in a white paper available from kloudtrack® at www.kloudtrack.com/roi.

“Sixon’s selection of kloudtrack® builds nicely on our heritage in the Financial Services sector taking us well beyond securities and insurance compliance into lending, asset management, private equity, M&A, capital markets and other active deal-flow communities,” stated Michael P. Binko, president and CEO of kloudtrack®.

kloudtrack®excels as a platform for enterprises that may be growing quickly or companies that rely heavily on, and need to share critical data and documents with, third-party service providers for core business functions. Being SaaS-based, kloudtrack® can offer kloudtrack® at a price-point that is easily accessible and efficiently scalable – allowing client organizations to Start Small, and Scale™.

“While the tactical elements of our clients’ deployments are usually unique; the macro ROI metrics are typically quite consistent and encompass basic productivity gains as well as strategic improvements in critical business operations. As such, the flexibility of the kloudtrack® technology platform, combined with the industry domain expertise of our Solutions Services teams creates unique differentiators in the markets we address,” added Binko.

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. In 2007, kloudtrack® was selected by Microsoft Corporation as a portfolio-company in the Microsoft Startup Accelerator Program – an initiative that highlights companies developing unique technologies on Microsoft platforms.
kloudtrack® is one of the first technology and solution providers to address specific international, federal, state and industry-imposed regulatory compliance standards. This understanding and integration of compliance and risk management factors truly sets kloudtrack® technologies, solutions and intellectual property apart in the market. For more information about kloudtrack® or the kloudtrack® ROI Benchmark Case Studies visit www.kloudtrack.com 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.

About The Sixon Group

Sixon Group, LLC is an integrated group of companies and people designed to advocate profitable business growth for the emerging-to-mid-market business sectors. Sixon Group prides itself on providing client solutions that serve business strategies, support growth and improve business processes, performance and profitability. Sixon Group is comprised of three companies: Sixon Capital, Sixon Sales Group and Three Twenty-One. For more information please visit www.sixongroup.com.

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OnMarch 3, 2016, posted in: Press Releases by