It's a CEO's worst nightmare: your company's most valuable data suddenly disappears. Former Attorney General John Ashcroft sounded the alarm in 2004, when he estimated that intellectual property theft accounted for losses of $250 billion a year. Numerous case studies from
Coca-Cola and
Forbes have shown the effects as well. From trade secrets to client lists, document security may feel like paranoia but that is no consolation when it happens to you.
Center City cyber security designers
DDC (formerly Document Depository Corp) created RADAR, a full-service critical data management system that recently added two new features. The first is a contract tracker that allows companies to share contracts and get digital signatures remotely. The second is a secured online chat room with document-sharing capabilities that DDC calls a Virtual Data Room. With these new products, DDC goes beyond just document sharing solutions to the protection of a company's most critical documents.
"Most companies store data in filing cabinets, on CD's in e-mail so pulling that all together is a very painful process," says DDC Executive Vice President of Business Development Cristina Greysman. "Not to mention, the fact that, what if your CFO who has all that data stored on their laptop gets hit by a beer truck? What then? Can you get to all that data and if not, how much will it cost to recover it?"
As the company transitions from document sharing to a more security-focused firm, it has drawn private funding for recent additions like the Silicon Valley facility it opened in August or the European facility opened in Dublin, Ireland in September. As the rollout continues for RADAR, DDC will be adding staff as it tries to expand marketing efforts and online product offerings.
"We want to build out our customer support staff," says Greysman of new hires. "We will do consulting with clients to help them determine best practices for putting information into RADAR. It is possible that we will hire some additional sales staff as well."
Source: Cristina Greysman, DDC
Writer: John Steele