kloudtrack® INTRODUCES THE COMPLIANCE SWAT UTILITY™ VERSION OF ITS kloudtrack® SaaS TECHNOLOGY

ROCKVILLE, MD – March 18, 2008 – kloudtrack® today announced general availability of its kloudtrack® Compliance SWAT Utility™ (CSU) technology which was previewed last week at the 2008 NAIBD Technology and Compliance Symposium in Los Angeles, CA. 

The kloudtrack® CSU is a specialized version of the company’s kloudtrack® SaaS-based compliance and risk management platform that allows principals, chief compliance officers (CCOs), chief information officers (CIOs) as well as operational managers more actively monitor communities of employees that show signs of repeated compliance infractions. 

“The concept of the Compliance SWAT Utility obviously comes out of law enforcement where SWAT typically stands for Special-Weapons-And-Tactics,” stated Michael P. Binko, president and CEO of kloudtrack®.  “This SWAT concept is directly applicable to many of the tasks that CCOs and CIOs have to accomplish day-in and day-out.  To that end, the ability to quickly and efficiently deploy capabilities in critical situations is paramount.  Until now, though, no such specialized weapons were available for the functions of enterprise compliance and risk management.” 

Being SaaS-based, kloudtrack® capabilities can be deployed very quickly without hard-costs of new equipment or maintenance.  This “low overhead” aspect of the kloudtrack® technology makes it an ideal platform for both large and small enterprises. 

Larger organizations may have a need to supplement existing IT capabilities which are inflexible and costly to customize.  Smaller businesses may be looking for a platform that can scale quickly and affordably along with the firm and a platform offering modules that can be added as needed.  Both are ideal scenarios for SaaS and each presents unique opportunities for tangible return on investment (ROI).

While the kloudtrack® CSU meets obvious and immediate needs in heavily-regulated industries such as financial services, pharmaceuticals and healthcare/medical, the capabilities also form the foundation upon which any risk-minded business can be built. 

“The kloudtrack® CSU emerged out of discussions with CCOs at our clients in the broker-dealer sector of financial services.  Struggling constantly to address FINRA and SEC regulatory guidelines, CCOs often know that they have communities of employees – often upwards of 35 percent – who are repeat compliance-offenders.  No matter the reasons, these employees pose a constant threat to the firm of disciplinary action or fines by industry or government regulators.  We quickly realized that these compliance officers and other CxOs needed a tool-set of weapons and tactics that would provide a glimpse into why certain employees are constantly at-risk,” added Binko. 

Beyond simple monitoring of these employees and business rules, the kloudtrack® CSU incorporates tools such as document management, message surveillance, workflow audit trails and reporting capabilities that provide critical knowledge to decision makers.  This information can relate to knowing where break-downs in process are occurring. 

Additionally, these tools assist in developing an understanding of whether the problem lies with the individual, recruitment strategies, training programs, supervisory procedures or if the concerns are more systemic and indicative of a potentially bigger problem. 

To learn more, ROI Benchmark Case Studies associated with deployment of KISTrack in compliance situations are highlighted in white papers available from kloudtrack® at www.kistrack.com/roi.

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® 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.  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 Jan Levine via telephone at (240) 499-3832 or via e-mail to jlevine@kloudtrack.com or sales@kloudtrack.com.

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OnMarch 18, 2008, posted in: Case Studies, Press Releases by

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

ROCKVILLE, MD and HUNT VALLEY, MD – March 3, 2008 – 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 KISTrack 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 TrackFlow™, TrackFile™ and TrackBatch™ 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 Jan Levine via telephone at (240) 499-3832 or via e-mail to jlevine@kloudtrack.com or sales@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, 2008, posted in: Press Releases by

Microsoft® Selects kloudtrack® for Startup Accelerator Program

ROCKVILLE, MD – January 22, 2008 – 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 Jan Levine via telephone at (240) 499-3832 or via e-mail to jlevine@kloudtrack.com or sales@kloudtrack.com.

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OnJanuary 22, 2008, posted in: Press Releases by

kloudtrack® Integrates LaserApp Into kloudtrack® Compliance Technologies for Financial Services

 kloudtrack® INTEGRATES LASERAPP INTO KISTrack™ COMPLIANCE TECHNOLOGIES FOR FINANCIAL SERVICES

ROCKVILLE, MD and SAN DIEGO, CA – December 11, 2007 – kloudtrack®, a leading provider of software-as-a-service (SaaS) technologies for financial services and other industries, today announced integration of automated form filling technologies from LaserApp into the kloudtrack® compliance and risk management computing platform.

The LaserApp-enabled kloudtrack® platform has been available to existing kloudtrack®k customers since August 1 and, as of today, is now also offered under General Availability to non-existing kloudtrack® customers either directly from kloudtrack® and LaserApp or through their communities of distributors and channel partners.
“The holy grail for broker-dealers is a concept called ‘straight-through-processing’ and LaserApp is on the frontline of that battle-scape daily by assisting broker-dealers in capturing accurate customer and transaction data as early in the sales application process as possible,” stated Michael P. Binko, CEO and president of kloudtrack®. “While macro industry issues continue to make the straight-through concept a challenge to implement, the integration of kloudtrack® with LaserApp proves that steps forward are being made and moves our customers much further along that path,” Binko added.

The combined solution fuses LaserApp’s automated “check and app” form filling software and LaserApp’s ability to link with virtually any customer relationship management (CRM) system with the kloudtrack® SaaS-based document management, archiving, compliance, risk mitigation, workflow and business process management tools. The result is an affordable, easy-to-implement, yet powerful Internet-based solution for fast-growing and technology savvy broker dealer firms and their field offices.

“The compliance and risk management benefits of the kloudtrack® platform are enhanced by the fact that the kloudtrack® delivery model is SaaS and that they have created their data management architecture in such a way that integration with third-party offerings such as ours is truly seamless and without hits to performance,” stated Robert Powell, director of Marketing for LaserApp. “In addition, by having LaserApp data archived in the kloudtrack® TrackFile™ back-end database, any word or phrase becomes full-text searchable even in scanned files or attachments. The ROI value of this capability is particularly evident in instances of compliance audit or review some time after a securities-related order has been processed,” continued Powell.

Moving well beyond enterprise productivity, data management and simple compliance, thekloudtrack® platform incorporates support for business process management (BPM), supervisory procedures, workflow, detailed reporting, communication surveillance, disaster recovery, business continuity, integration with legacy systems, sophisticated archive/retrieval functions and electronic check-processing and transactions.

Additional Recent kloudtrack® Developments:

 kloudtrack®recently completed formal Return on Investment (ROI) Benchmark Studies within the broker-dealer community and also refined pricing by developing a line of KloudTrack Packages that combine the two most widely deployedkloudtrack® compliance modules TrackFlow™ and TrackFile. Under the kloudtrack®Packages, broker-dealers, OSJs or branch offices with even less than 10 employees can easily step-into a deployment.

All kloudtrack® Modules are still available for purchase and deployment as individual offerings; however, the kloudtrack® Packages incorporate considerable discounts for customers that know they need combined productivity, compliance and risk management technologies and anticipate solid growth in the near term. Broker-dealers, OSJs or branch offices with between five (5) and 2500 registered reps in geographically dispersed offices are the ideal match for kloudtrack® and the platform is equally suited for independent or centralized (enterprise) broker-dealer business models.

kloudtrack® also introduced a more comprehensive suite of Solution Services. These Solution Services are now also available in three contract types — hourly, project-based or retainer-based. “The LaserApp integration was completed by members of our Solution Services team and representatives the type of high-quality work these engineers, developers and data management project teams are delivering to customers of all sizes,” 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. kloudtrack® is one of the first technology and solution providers to make it affordable for small to mid-size enterprises (SMEs) to employ comprehensive workflow automation technologies using SaaS cost-savings while 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 Jan Levine via telephone at (240) 499-3832 or via e-mail to jlevine@kloudtrack.com or sales@kloudtrack.com.

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OnDecember 11, 2007, posted in: Press Releases by

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

BETHESDA, MD, October 23, 2007 – 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 20GB of storage fees for the kloudtrack® platform through the end of 2007. kloudtrack® will charge only the standard $695 database set-up fee and standard data storage fees at the monthly rate of $15 per GB above 20GBs.

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 the Los Angeles and San Diego areas 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 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 128Kbps), a computer with a fairly recent (2001 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 sales@kloudtrack.com. Payment is required for the database set-up fees at time of service activation. 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, 2007, posted in: Press Releases by

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

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

BETHESDA, MD, February 21, 2007 –kloudtrack®, a leader in Software-as-a-Service and Cloud (SaaS | 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:

  • TrackFile – secure, online document and data storage/retrieval
  • TrackFlow – electronic BPM/workflow and business intelligence oversight
  • TrackMail – automatic e-mail archiving and surveillance
  • TrackCash – electronic payment processing and check clearing
  • TrackAd – automatic analysis of ad copy for compliance
  • 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), 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, 2007, posted in: Press Releases by