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Safecore Appoints Networking Communications Veteran Edward
Publish Date : 12/9/2004 12:33:00 PM   Source : Technology News Onlypunjab.com

Safecore, Inc., an emerging leader in the compliance and business continuance managed solutions market, announced the recent appointment of Edward Gregory to chief executive officer. Safecore delivers enterprise-class hosted solutions to mid-sized regulated industries such as securities brokerage, banking and healthcare across the U.S.

Gregory brings more than two decades of industry experience in strategic sales, marketing and management to Safecore, including positions at Cyber-Ark, Comverse, Shiva and PictureTel. Most recently, he served as president at Cyber-Ark, an early-stage provider of vaulting security software where he led the company’s expansion and revenue growth. Prior to Cyber-Ark, Gregory served as vice president of sales and marketing at Comverse, a leading global provider of carrier-class enhanced services platforms to telecommunications network operators. At Comverse, Gregory drove explosive revenue and market share growth by leading the development and execution of Comverse’s go-to-market plan in the Americas’ wireless market.

Gregory joined Safecore as CEO to expand the four-year-old company and help it capitalize on the enormous and immediate market opportunity to serve thousands of mid-sized businesses struggling to meet stringent regulations and business continuance mandates. “Ed brings a real execution mindset, as well as a wealth of marketing experience and executive leadership to Safecore,” said Paul O’Brien, chairman of Safecore and former CEO of New England Telephone. “He has the vision and drive to bring the organization to scale and we are delighted to have him on board.”

“Despite facing the same depth of regulatory scrutiny as large businesses, most mid-sized companies don’t have the capital, resources or infrastructure to proactively address these challenges,” said Gregory. “Safecore is securely poised and well positioned to help these customers eliminate millions of dollars of risk and inefficiency while operating in a fully compliant, uninterrupted manner.” In fact, experts predict segments of the business continuance and archiving market will virtually double in size every year through 2008, resulting in a $2.5 billion market.

The SEC has levied millions of dollars in fines against numerous prominent Wall Street brokerage firms for violating key regulations tied to the retention of e-mails for the correct SEC-mandated period. In March 2003, Bank of America Corp. was fined $10 million—the largest fine ever imposed by the SEC—for failure to produce e-mails and documents concerning trading practices. While these initial penalties were levied against large institutions, a 2003 study by the e-Policy Institute, American Management Association, and Clearswift showed that of 1,100 U.S. companies surveyed, 14% had been ordered by a court or regulator to produce employee e-mail and/or documents.

Simultaneously, events such as 9/11 and the massive 2003 power outage suffered across the eastern U.S. coupled with mounting regulatory and shareholder pressure are forcing thousands of CEOs across the U.S. to ensure the survivability and ongoing operational viability of their businesses. These businesses must now confront the necessity of building and testing business continuation plans and detailed retention and recovery programs. Statistically, upwards of 90% of businesses that suffer a mission-critical loss of data are out of business within five years. “CEOs and CFOs are personally on the hook, so this is a top-of-mind issue,” added Gregory. “Mid-sized companies today often have only basic plans, if any, in place.”

Safecore’s flagship solution, SafecoreMA (Message Archiving), is an affordable, integrated, hosted solution that offers regulated firms archival, proactive surveillance, discovery and supervision of all electronic communications. In early 2005, Safecore will launch SafecoreERM (Enterprise Record Management), to help businesses manage the entire lifecycle of critical business information such as documents, spreadsheets and database reports. This solution will enable customers to address strict regulations including Sarbanes-Oxley, Gramm-Leach Bliley (financial services) and HIPAA (healthcare).

Gregory has held other senior management positions at Computer Consoles and AT&T. Additionally, he serves on a number of advisory boards and technology councils. He holds a B.S. in marketing from Boston College's Carroll School of Management, where he graduated with honors. Gregory joins a cohesive management team at Safecore with deep experience building significant market share and shareholder value. Stephen Catanzano, the company’s founder and president is responsible for leading Safecore’s strategic product direction and business development.

About Safecore, Inc.
Safecore, Inc. is an emerging leader in the compliance and business continuance managed solutions market delivering enterprise-class hosted solutions to mid-sized firms in highly regulated industries throughout the U.S. Safecore’s growing suite of hosted solutions enables businesses to meet current regulations that mandate the long-term retention, retrieval, and integrity of critical business information—especially crucial to highly regulated industries such as securities brokerage, banking, and healthcare. The company’s end-to-end hosted solutions are delivered in an integrated package at a convenient monthly price, without the need for significant upfront capital investment and overhead. Working with Safecore, customers can concentrate on managing their own businesses, confident that all critical applications, electronic data, and intellectual property are permanently safeguarded and securely accessible. Safecore resolves to provide its customers the most flexible, robust, and affordable enterprise-sized solutions in the industry. www.safecore.com