Egress Forms Strategic Alliance to Deliver Framework Security to UK SME Business
London and Chicago – July 2010 – Egress Software Technologies, an innovator in secure data exchange, announced today a strategic partnership with the International Association of Accountants & Technology Consultants (IAAITC). Founded in 2004 as a non for profit membership organisation, the IAAITC provides a simple risk assessment framework to help small and medium businesses comply with data security regulation.
One of the biggest challenges facing the professional services industry is the ability to share client information securely. Typical contracts, such as a standard letter of engagement, clearly state that firms will comply with the Data Protection Act 1998 when processing client data. This commitment is given without any thought as to how either party will achieve such compliance, which may explain why so many UK legal and accountancy practises continue to overlook this serious contractual obligation.
"It would appear that until recently UK firms were willing to take the risk of data loss and pay the maximum penalty of £5,000 issued by the Information Commissioners Office," said David Reynolds, CEO for IAAITC. "However, since this was increased up to £500,000 in April this year, our members have been called upon to advise their clients how to protect their businesses when sharing confidential information."
Independent market research indicates that data breaches attributed to third parties has now grown to 36% and are 20% more costly to recover. "Living dangerously is no longer an option. Loss of client data can and will result in expensive cleanup costs and irretrievable damage to an organisations reputation" said Reynolds. "These are the foundations on which our local business communities are built, and such severe consequences must now be taken very seriously."
Delivered as a hosted service to remove the need for complicated infrastructure, Egress Switch enables users to protect sensitive data - wherever it resides. "We are very excited about working closely with the IAAITC and its membership organisation," said Tony Pepper, CEO for Egress Software Technologies. "Our core objectives remain the same; to help small and medium businesses mitigate the risks associated with sharing confidential data containing personally identifiable information." Pepper continues, "Don't throw away years of hard work establishing a successful practise, just to see it all disappear in front of your eyes. Carry out an independent risk assessment and ensure that appropriate measures are in place when sharing sensitive data."
Egress Switch offers complete protection of outbound data regardless of file size or transport mechanism. Using AES 256-bit encryption, Switch secures confidential information sent by email, copied to USB removable media, burnt to CD/DVD, or uploaded to FTP/Cloud Servers. Information owners can then set or change security policies through a service in the Cloud. Security policies include real-time user and package management, even after the information is sent or shared. This allows users to instantly 'pull information back' should audit events suggests the data has been lost or mishandled.
Egress Switch also offers integrated data classification and customisable end user policy disclaimers. This next generation level of control and ease-of-use features not only mitigates the risk of unintentional data loss, but also enforces recipient responsibility when handling confidential information.
For further information and pricing on Egress Switch or to download the software, visit www.egress.com.
About Egress Software Technologies
Egress Software Technologies delivers an innovative service to enable organisations and individuals to share information securely. The company provides integrated and easy-to-use software designed to protect and control sensitive data, however it is sent or wherever it resides. Founded in 2007, the company is self-funded, based in London (UK) and is led by senior executives from Reflex Magnetics, Pointsec Mobile Technologies and Check Point Software. Egress' growing customer base includes blue chip companies and government organisations around the world.