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.

On March 18, 2008, posted in: Case Studies, Press Releases by
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