2008 Buyers Guide & Resource Directory
Looking Ahead | Transatlantic Exchanges, Brokers Put Their Money on European Options Growth | Research Technology Ready to Enter a 'Breakout Year' | Next-Generation SMAs In Search of Next-Generation Solutions | E-Mail Archiving Growth Fueled by Federal Rule Changes |
E-Mail Archiving Growth Fueled by Federal Rule Changes
December 17, 2007
On Dec. 3, Zantaz unveiled a new product, Desktop Legal Hold, specifically designed to help customers comply with the FRCP. It preserves e-information locally and continuously in real time, locking original files in place until a network connection is established.
"In financial services, a number of executives are not on the premises, and carry laptops," says Nicole Eagan, chief marketing officer of Autonomy. "The challenge is how to protect e-mails as well as files. Zantaz takes a radically different approach: We have software on the laptop, and can send out a request to all relevant laptops or desktops." Desktop Legal Hold is suitable for large organizations, including those in a financial services environment, she adds.
Noting that her company's biggest competitors are Symantec, EMC and Boston-based Iron Mountain, Eagan says that the industry is seeing a lot of consolidation. "There is a change from niche solutions to an integrated approach, where everything works together," she notes. Autonomy's number-one market is financial services, says Eagan, noting that 14 of the top 20 global securities firms are customers.
While e-archiving giants are setting the pace, some vendors are still looking for niches to exploit. Jatheon Technologies of Toronto has launched a collection of appliances geared to the financial services industry that uses global resellers to deliver the product to the end user. "Rather than come out with a software solution, with complex integration issues, we sell a family of appliances that goes into the network," says Kieron Dowling, president and CEO of Jatheon. "The next step is to add features and functionality, and work with channel partners to gain market share."
Other vendors with appliance-based approaches include Campbell, Calif.-based Barracuda Networks and ArcMail Technology in Shreveport, La.
According to O'Malley, the leaders of the e-archiving technology race increasingly will be companies that offer flexible, one-stop solutions that feature extensive storage capability and quick retrieval. "One of the biggest complaints today is the speed with which the system comes back with search results," he says. "In financial services, firms need to know where the information resides within the infrastructure. Another consideration: Is there flexibility in the tool? A key driver is the solution's ability to manage large volumes of information."
E-mail archiving "has basically become a huge information management problem," adds Radicati. "The whole search issue is becoming more important. We are moving from just trapping the information to how to store and access it."
Also, she continues, "there is a lot more concern about capturing other types of information exchanges, such as instant messaging. Going forward, there is concern about voice communications--extra careful companies may wish to archive these. ... Financial services is the industry that is on the leading edge of this."
While "the tools haven't changed all that much," O'Malley agrees that the big changes involve how companies are storing the information, and the ability to index and retrieve it. "Once you retrieve information, you want technology to extract and provide it very swiftly," he explains. "All the companies have the collection part down. The real visionaries can identify relevant information, extract it quickly, and move it to a litigation platform."