More Media Types for LiveOffice
Hosted archiving vendor LiveOffice is expanding its supported data types. Hitherto, it has mainly archived Exchange email, with some instant messaging. As of March 2, LiveOffice is also archiving SharePoint teamspaces and Web site pages. The Web site support implies support for social networking Web sites such as LinkedIn, Facebook, and Twitter. Cost is $9.95/user/month, with volume discounts. This includes unlimited storage; search and e-discovery services are extra.
For more information, go here.
- Email is the most important data type to archive. However, ultimately what counts is information rather than the data types in which it's stored. LO is right to extend its offering beyond email.
- SharePoint support is especially important. Very large amounts of compliance- and e-discovery-sensitive material are kept in these workspaces.
- The SharePoint support is initially limited to files and emails; e.g., no calendars or address books. Broader support for SharePoint content is planned.
- As of January 2010, FINRA started issuing guidance on social media. This is a clear indicator of the importance of these technologies to end customers.
- The Web site archiving works as follows: The user specifies the URLs of pages that should be archived, and how frequently a PDF snapshot should be stored. The PDFs are then archived; word lists generated by Adobe are indexed to provide for review and e-discovery.
- Most broker/dealers are small businesses, with simple Web sites. The static-URL-based scanning should suffice for most of them, as far as FINRA social networking compliance is concerned.
- The technology is very much version one in nature. It ignores the structure and meaning of the pages being stored, so searches are much weaker than they should be (more false positives and false negatives). Also, no doubt LO will want to add support for dynamically created URLs, such as database-driven content.
- APIs for social networks are still crude. They will improve, and that will help third parties such as LiveOffice provide much tighter integration.
- LiveOffice is privately held and doesn't disclose its financials. Ferris estimates revenues at perhaps $30M annually for its hosted archiving and e-discovery business. The company is profitable.
... David Ferris
Determining Retention Policy for Electronic Documents
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