LIVEOFFICE DELIVERS FIRST COMPLIANCE-ENABLED WEB CONFERENCING SOLUTION TO FINANCIAL SERVICES INDUSTRY
March 22, 2004
PHOENIX, Ariz., March 22, 2004 - LiveOffice Corporation (www.liveoffice.com), the leading provider of web sites, compliance systems and
collaborative applications, announced today at the SIA Compliance and Legal Division Seminar that it would be the first to offer a fully
integrated, compliance-enabled web conferencing solution to the financial services industry. Combining the company's popular AdvisorMail
(www.advisormail.net) compliance system with its IMConferencing (www.imconferencing.com) web conferencing solution will enable
financial professionals to take full advantage of the productivity benefits of online web conferencing, while remaining in full
compliance with all SEC and NASD regulatory requirements.
"Our 12,000 financial services customers consistently remind us that they grow their practices by maintaining high levels of personal
contact with their clients and prospects," said Matthew Smith, chief operating officer for LiveOffice Corp. "While web conferencing is the
perfect way for them to stay in touch with important clients, compliance regulations have prevented most financial advisors from taking
full advantage of this new technology. LiveOffice's regulatory-compliant version of IMConferencing solves this problem and is well-positioned
to replace the telephone as the preferred communication method for many financial advisors and their clients."
IMConferencing (IMC) enables financial advisors to launch web conferencing sessions with the click of a mouse. Within each session they
can call upon a rich suite of features to conduct seminars, work collaboratively with clients on financial plans, review portfolio
statements or tax returns or simply exchange ideas on the most recent ups and downs of the market. In addition, fully integrated telephony
and multi-point video conferencing add a personal touch not available with other web conferencing solutions.
Each IMC session is captured and imported into LiveOffice's compliance application, AdvisorMail. Within AdvisorMail, full transcripts of
all instant message conversations, copy from seminar presentations and transcripts of other shared materials are screened for compliance
with NASD and SEC regulations, and then stored for future retrieval by compliance personnel. If any problematic language is discovered,
AdvisorMail immediately highlights it and alerts the compliance officer to conduct further review of the communication.
The growth of instant messaging as a business communication tool has presented a dilemma to financial services organizations. Instant
messages, like emails, require compliance oversight. When financial professionals have tried to use a public IM network (Yahoo, MSN, AIM),
the compliance department has been forced to review both business and personal IM communications.
LiveOffice's integration of IMC and AdvisorMail solves this problem by providing financial professionals with the equivalent of a private
enterprise deployment of instant messaging, ensuring that business communications are separated from personal correspondence, and that
all business-related instant messages are available for compliance review.
"As part of this rollout, we will be offering a fully compliant enterprise instant messaging system free of charge to all customers who
install our AdvisorMail compliance application before June 1, 2004," said Ann Davis, director of business development for LiveOffice
Corp. "The use of instant messaging as a business communication tool is projected to grow at a rate of more than 30% per year, and now
financial professionals can securely integrate this new technology into their practices with the confidence that all compliance
regulations are being met."
LiveOffice will demonstrate AdvisorMail and IMC in booth #14 at the SIA Compliance and Legal Division Seminar taking place today through
Wednesday at the J.W. Marriott Desert Ridge Resort & Spa in Phoenix, AZ.
About LiveOffice
LiveOffice is a leading provider of software-as-a-service email archiving and Hosted Exchange 2007 solutions, with more than 8,500 clients and a 99-percent client-retention rate. Founded in 1998 and backed by leading private-equity firm Summit Partners, the company has more than 100 employees with deep experience in messaging, including executives and board members from Symantec, Microsoft, FrontBridge and Postini. For more information, call 800.374.2032 or visit www.liveoffice.com. Visit the LiveOffice Blog at http://blog.liveoffice.com.
LiveOffice and its logo are trademarks of LiveOffice LLC. All other company names and products may be trademarks of their respective companies.
