OPTIZMO: Why Compliance Should NOT be on the Chopping Block
Austin, TX – September 27th, 2011 – Optizmo Technologies is looking to reshape the conversation around risk management, email compliance and the sustainability of the email marketing industry. Clarifying why, especially during hard economic times, companies should not skimp on or cut protective measures that minimize liability.
Unwanted Attention – During economic hardship, regulatory agencies generally look to boost revenue through fines, judgments, liens, etc. and process these charges by identifying violations through current compliance laws. When parties (Advertisers, Networks, and Mailers) within the email marketing industry receive complaints, violations, and/or negative exposure, the industry in turn invites unwanted changes in legislation that could inhibit the ability to utilize email as a lucrative marketing method.
Risk Management, Compliance and Sustainability affect a variety of business sectors not just email marketing. Many sectors are forced to address these items regularly due to the direct impact it has on their overall performance, exposure and longevity in their respective industry.
Banking – Sara Silver at the Financial Times reported that, “Financial risk assessment systems failed badly in the lead-up to the 2008 crisis; now the financial services industry is working hard to fix them. Financial services businesses have been changing their technology architecture since the financial crisis and many are replacing disparate older systems…”
Trading – Shelley DuBois from Fortune reported that, “… UBS trader Kweku Adoboli, who was arrested on September 15 and is now facing charges of fraud and false accounting… Without knowing the details of UBS’ security measures, there are a couple of best practices banks should follow… Every year or so, the company needs to do thorough internal audits to see which parts of their business may be vulnerable to unauthorized trading.”
Compliance: FTC v. IMM Interactive (aka Copeac) – The FTC currently has a case against 10 different companies which include not only Advertisers but a Network and their Affiliates. Contrary to popular belief, truth in advertising transcends Advertisers and can affect all levels of the advertising chain.
Investing in the Future – According to Chartis Research, risk management technology is in demand with expenditure set to rise some 10% to just over $23bn by 2013. In addition, Anuj Gangahar at the Financial Times reported that, “IBM has spent over $14bn on 26 analytics-related purchases in the past five years… IBM’s buying spree is further evidence that companies are increasingly recognising that their risk management monitoring must cover a vast array of potential factors.”
Don’t Cut Off Your Nose to Spite Your Face – OPTIZMO’s stance is simple: to encourage industry players to make smart choices when it comes to compliance and security. By providing compliance automation and relevant analytics to all applicable parties throughout the email chain, OPTIZMO™ looks to empower its clients and their vendors and, as a result, possibly aid in the sustainability and profitability of the email marketing industry long term.
OPTIZMO’s edge is that it continues to enhance its products and services as well as develop custom features for its clients. Their intention is to stay in front of the needs of the email industry thus making them a necessity to email marketers in any economic environment.