Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Posts Tagged ‘compliance

IBM Acquires PSS Systems

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IBM today announced that it has acquired PSS Systems, a privately held company based in Mountain View, Calif.

Financial terms of the deal were not disclosed.

PSS Systems’ software helps organizations analyze, automate and implement information governance policies across massive amounts of electronic business information and dispose of that information in an automated way.  These capabilities are critical elements to remaining responsive to legal obligations while reducing data storage costs.

As information continues to grow at exponential rates, companies across a wide range of industries are looking for ways to reduce the costs of collecting, processing, reviewing and storing information by setting information disposal policies that can meet legal requirements.

To improve the management of data and these increasing legal obligations, Chief Legal Officers and CIOs are investing in software to automate and implement routine enforcement of information governance and retention policies.  Needlessly retaining information increases business risk, impedes the ability to respond to legal requests, and puts costs restraints on organizations in every industry.

Finding Information Faster

A recent study by the Compliance, Governance and Oversight Council found that fewer than 25 percent of organizations were able to dispose of data properly because they lacked rigorous legal hold management practices and effective record retention programs. The report also estimates that that costs associated with legal electronic discovery average more than $3 million per case and about 70 percent of information is often needlessly retained.

By combining PSS Systems’ software with IBM’s complementary Information Lifecycle Governance software, IBM is uniquely positioned to deliver a comprehensive portfolio of offerings that address client’s needs to manage, automate, and apply policies to address the interlocking needs of the CLO, CIO and lines-of-business constituents.

PSS Systems has an established base of clients, including seven of the top 10 Fortune 500 companies, across a wide variety of industries worldwide including financial services, pharmaceutical, petro-chemical, healthcare and energy. Companies such as Abbott, BASF, BP, ConocoPhillips, Devon Energy, First Data, GE, Pfizer and Williams use PSS Systems software solutions.

PSS Systems founded the Compliance, Governance and Oversight Council (CGOC), a corporate practitioner’s forum with more than 800 members.  They also developed the industry leading Information Governance Process Maturity Model which includes process assessment and business case methodologies, best practice tools and delivery models for legal and IT professional.

With this acquisition, IBM expands its suite of Information Lifecycle Governance solutions, which include content assessment, collection, archiving, imaging, advanced classification, records management, e-discovery search and analytics as well as IBM’s storage management and Smart Archive strategy.

IBM intends to integrate PSS Systems within the IBM ‘s Software Group.  You can learn more here.

Written by turbotodd

October 13, 2010 at 2:35 pm

IBM to Acquire OpenPages

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IBM today announced a definitive agreement to acquire OpenPages, a privately-held company based in Waltham, MA. OpenPages provides software that helps companies more easily identify and manage risk and compliance activities across the enterprise through a single management system.

Financial terms were not disclosed.

With growing volumes of data, disconnected systems, constantly changing regulatory compliance challenges and a dynamic business climate, gaining a complete view of an organization’s risk exposure is increasing in complexity.

Systemwide Risk Management

Today, managing risk is a top priority for businesses in all industries including finance, insurance, retail, healthcare and energy and utilities.

A recent IBM study of 1900 global CFOs and senior finance leaders revealed that risk management has risen in priority by 93 percent since 2005. The survey also noted that two out of three companies had encountered material risk events within the past three years.

The acquisition of OpenPages expands IBM’s business analytics capabilities to support compliance and risk management processes. OpenPages software allows businesses to develop a comprehensive compliance and risk management strategy across a variety of domains including operational risk, financial controls management, IT risk, compliance and internal audits.

The result is an aggregated, enterprise-wide picture of all exposures, helping CFOs and CIOs understand how these risks can impact the organization’s future performance.

OpenPages Customer Base: 200 Clients Across a Range of Industries

More than 200 clients across a variety of industries are using OpenPages software to help them tackle their information-related challenges and manage risk and compliance issues. Some of the world’s largest financial services and energy and utilities businesses address risk and compliance with OpenPages software, including Allianz, Barclays, Carnival Corporation, Duke Energy, SunTrust, TIAA CREF and Williams.

IBM and OpenPages deliver Integrated Risk Management solutions that have been successfully deployed for leaders in the banking, financial services and insurance industries. IBM and OpenPages have also partnered to deliver the core data system for the Operational Riskdata eXchange Association (ORX), a consortium of over 55 major banks in 18 countries, based in Switzerland formed with the objective of sharing quality operational risk data on a secure and anonymized basis for the purposes of risk management.

IBM’s approach to risk management will help organizations drive better business outcomes, lower the cost of risk management and compliance activities, better allocate resources as needed and reduce risk exposure.

When coupled with IBM’s services capabilities, systems management, security, information governance and other IT governance capabilities, clients will have an accurate and actionable view of the risks that might otherwise undermine enterprise performance.

OpenPages client and partner investments in existing IBM and OpenPages technologies will be preserved, allowing customers to take advantage of the broader set of capabilities without the need to replace existing systems.

In just four years, IBM has invested more than $11 billion, dedicated 6,000 consultants and opened seven analytics Centers of Excellence around the world to help clients uncover hidden insights within their data.

The acquisition is subject to applicable regulatory clearances and other customary closing conditions.

Following the close of the acquisition, IBM intends to integrate OpenPages within IBM’s Business Analytics software portfolio.

Written by turbotodd

September 15, 2010 at 1:39 pm

IBM Acquires Datacap

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IBM announced today the acquisition of Datacap, a leading provider of software that enables organizations to transform the way they capture, manage and automate the flow of business information to improve business processes, reduce paper costs or manual errors and meet compliance mandates.

Financial terms were not disclosed.

The acquisition strengthens IBM’s ability to help organizations digitize, manage and automate their information assets, particularly in paper-intensive industries such as healthcare, insurance, government and finance.

Companies today are grappling with managing unstructured data while trying to reduce costs at the same time. It’s estimated that 15 petabytes of new information is being generated daily, and 80% of this new information is unstructured content.

Recognizing this challenge, Datacap software supports image and data entry automation for most types of documents and forms, including medical claims, tax returns and highly variable documents such as invoices and shipping documents for more precise business outcomes.

Additionally, regulations such as HIPAA and Sarbanes-Oxley have demanded new standards and now legislation is encouraging the adoption of new records management solutions, including scanning and capture to increase accuracy, lower costs and speed business processes to meet these regulations.

Datacap customers are among the most visionary organizations, using document capture and Enterprise Content Management (ECM) solutions to streamline and transform their businesses.

More than 200 clients across a variety of industries are using Datacap software to help capture and manage their data. These include the Chicago Department of Public Health, Virginia Department of Taxation, BlueCross BlueShield of Arizona, Goodyear Tire & Rubber Company, The Dutch Tax Office, Dow Jones & Company, California’s Orange County Superior Courts, Hawaii Department of Taxation, and St. Vincent Hospital and Health Care Center.

As businesses seek to transform and simplify their business processes, extracting meaningful information from unstructured content – both paper and electronic — is critical.

Datacap dramatically speeds up this process by automating the conversion of both structured and highly variable formats — email files, JPEG and GIF image files, and PowerPoint presentations — into actionable insight in seconds.

This capability, which accelerates the dissemination of information throughout an organization by helping to eliminate the physical handling of information, makes it easier for small-to-medium sized businesses, small departments or global organizations to extract analytics faster and transform their business processes.

Datacap further extends IBM’s industry leading set of solutions to help companies make better decisions faster by managing content, optimizing processes and enabling compliance through ECM solutions and advanced case management.

Datacap’s client and partner investments in existing IBM and Datacap technologies will be preserved, allowing customers to take advantage of the broader set of capabilities without the need to replace existing systems.

IBM intends to integrate Datacap within its ECM business, which is part of IBM’s Software Solutions Group.

Written by turbotodd

August 10, 2010 at 1:57 pm

Live @ Pulse 2010: Security and the Smarter Planet

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In today’s general session at IBM Pulse 2010, IBM Tivoli VP of marketing, Doug Brown, kicked off the morning by introducing Helene Armitage, GM of System Software, IBM Systems and Technology Group.

Armitage outlined the opportunity presented by integrated service management and its linkage to virtualization, workload optimization, the use of new delivery models, and the need to integrate.

Armitage explained that heterogeneous infrastructure-wide virtualization can deliver systems efficiency (say that three times quickly), as opposed to siloed management of individual platforms. By “managing through a single pane of glass,” organizations can consolidate resources and reduce their complexity, in turn improving their efficiency.

She also discussed the “self-provisioning” of services and resources, whereby companies could leverage the most cost effective provider of the necessary service.  She highlighted one example, SK telecom, a Korean mobile communications provider which had three large data centers with around 1,000 servers, and which deployed a cloud computing platform with IBM to enable quick development and testing of new services.

Another highlight of the keynote were several IBM customers (including a panel discussion), as well as IBM Chief Privacy Officer and VP, Security Counsel, Harriet Pearson’s thoughtful look at security and data privacy in the smarter planet realm.

Pearson explained that 71% of CIOs around the world are concerned about risk management and compliance, but that business needed to view risk management through a lends of opportunity, not liability.

Though admittedly there has been an explosion of regulatory activity in governments around the globe…and a 500X increase in Web links last year that could harm your company…despite these, and other challenges and threats, we can’t go on the way we have been: Bolting on security or risk management after we’ve installed new systems or introduced a new initiative.

We could try, but the planet is getting smarter, and so must we.

The state of security on the smarter planet is complex, no doubt.  As the planet gets more instrumented, interconnected, and intelligent, that presents new possibilities, complexities, and risks (critical infrastructure protection, privacy and identity, cloud security, etc.)

Where’s the data?  Who has access to it?  Who knows who, and who knows who is who??

No question, people like lower crime, less traffic, better health outcomes…all the things a smarter planet can potentially provide.  But people are also increasingly uncomfortable with “them” having all this information about us.

So, we must change how we approach security and privacy, and risk management in general, in our business and our policymaking.

Plan security and privacy from the start, not as an afterthought.  “Security by design,” which is about driving innovation while reducing risk.

Security by design is an enabler of innovative change, not simply a risk prevention measure.

Pearson closed by identifying a number of ways IBM is helping clients get smarter about security.

For example, by safely adopting new forms of technology like cloud computing and virtualization.  Enabling new business models like teleworking and outsourcing. Addressing emerging compliance constructs, while decreasing operations costs.

And, to the point of consumer concerns, addressing consumer expectations of privacy by assuring trusted brand status, while also assuring the integrity of quality and availability of information required for real-time decision making.

The state of security on our smarter planet is good, but with some investment and focus, and planning up front, it could be so much better, and in turn, provide businesses with new opportunities to be “in compliance” with both regulatory regimes as well as key business objectives.

Written by turbotodd

February 23, 2010 at 6:15 pm

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