Comms Business Magazine Award-winning video managed services provider vc-net has signed a partnership deal with Open-Tec to offer compliant videoconferencing services in conjunction with Open-Tec’s flagship Cstore solution which has been described by Bloor Research as having ‘major disruptive market potential’.
Vc-net says companies now know that they have a compliant videoconferencing capture storage and retrieval solution which meets all current and pending legislation.
In addition, any company that it is looking to minimise data loss and protect their intellectual property and corporate assets through videoconferencing can benefit from reduced travel costs, operational efficiencies, improved ROI and of course, improved security of those business records. New legislation due from the FSA under MiFID in March 2009 states that video conferencing calls have to be kept compliantly for at least 6 months so financial organisations particularly need to react quickly to meet the deadline.
The growth in regulatory legislation is compelling businesses to preserve a greater number of important records for longer periods of time whilst still making them electronically accessible. This burden of compliance is having a huge impact on organisations’ resources, particularly the storage environment as more data needs to be kept in its original form, for greater than 10 or 20 years, often permanently. This trend, coupled with a dramatic surge in the volume of security threats targeting corporate data assets, continues to drive the need for secure cost-effective, compliant and highly scalable storage solutions.
Alan Stewart, Director of Open-Tec, explains: “Cstore has been created specifically to address legal and consequently all regulatory requirements of how to store electronic business records to ensure that they have maximised evidential weight. With more and more business taking place over videoconferencing sessions this becomes an additional area that needs to be addressed by all organisations. With our combined expertise, Open-Tec and vc-net can offer compliant and integrated, recorded videoconferencing to minimise risk and maximise company shareholder value.”
James Stere, Sales Director of vc-net comments: “Being able to record a videoconferencing meeting from a compliance perspective is fantastic for our customers as legislation gets tightened more and more. We see this relationship as important strategically as our combined expertise will, I believe, enable companies to stay ahead and reap the benefits.”