Dexrex on Monday launched version 2.2 of its ChatSync message archiving and management platform, expanding its capabilities from instant messaging to supporting popular social platforms, said Derek Lyman, co-founder and CEO of the Cambridge, Mass.-based company. ChatSync is a SaaS platform developed to provide an enterprise data management solution for storing real-time text-based communications for compliance and discovery.
“We provide common data management on everything outside of e-mail,” he said. “E-mail management as been addressed.” said Lyman.
Compliance and e-discovery is becoming the biggest driver for increased interest in the storage and management of data generated by social networking uses, Lyman said. That push is coming from FINRA, an independent regulator for all securities firms doing business in the U.S. FINRA updated its guidance to reflect the need for broker-dealers to retain records of communications through social networking sites.
According to Lyman, Dexrex’s focus is on regulated industries, where social networking from various platforms has become a business reality, and ChatSync offers extensible APIs to plug into users’ devices, messaging clients, or messaging servers, and works in parallel with the messaging application to capture the media streams.
“All the data from those systems gets captured and normalized, and then moved into our system before sending it to customers’ other applications,” he said. “Those services include things like a compliance officer using a word processor portal to search and tag data, or for bulk archiving to write once, read many media.”
ChatSync 2.2 works across multiple social networking sites for a price of between $1 and $2 per seat, per month. That compares to $10 to $20 per seat, per month for other solutions which only work with one type of messaging platform according to Lyman.