In September 2017, CIO Review named BroadVision amongst the 20 Most Promising Knowledge Management Solution Providers.
Read the interview with Dr Pehong Chen, CEO and Founder of BroadVision.
With the introduction of GDPR just months away, it’s important that the systems you use for communication receive the same level of data protection scrutiny as your systems of record. Vmoso brings together internal and external communication, integrated to your systems of record, helping you meet your data protection obligations.View Transcript
The General Data Protection Regulation or GDPR is a new set of data protection laws set to be introduced on 25th May 2018. It applies to all organisations in the European Union, and all organisations outside the EU that offer goods or services to individuals in the EU.
It aims to standardize data protection rules across the EU, and for most countries goes significantly beyond the previous national laws in place to establish a wider set of rights for individuals about the information organisations hold about them.
GDPR provides individuals with:
As most organisations already comply with their data protection obligations, the processes and systems they have in place form a solid basis for ensuring GDPR compliance.
However, in recent years, changes in the way business communication takes place have often worked against organisations’ good intentions around data protection. While their systems of record are typically well-structured and enable organisations to comply with their data protection obligations, their internal and external communication systems are a different matter entirely.
GDPR describes how personal data and sensitive personal data is handled. When this remains in an organisation’s systems of record – their customer databases, CRM systems, finance systems , etc, it’s relatively easy to comply with GDPR’s provisions to protect the individual’s rights. The problems start when this personal data is held in, or copied to communication systems that are much less tightly regulated.
This problem has been exacerbated by a move away from email into wide range of new communication tools, often brought into the organisation by employees without IT approval. This trend towards “shadow IT” or “bring your own app” puts company data at risk, and makes it almost impossible for organisations to meet their data protection obligations. How can an organisation possible find, rectify or erase an individual’s data if it is scattered across a mish-mash of employee-chosen communication apps?
If this scenario sounds unlikely to you, think again. In the UK, one of the largest ever fines imposed by the Information Commissioner’s Office related to the breach of a customer database that had not been approved by the organisation’s IT department. And it is widely acknowledged that NHS staff are regularly using WhatsApp to exchange patient data, often crossing the boundary of what constitutes “personal data”. Shadow IT is alive and well in most organisations, whether they know about it or not.
So all the good data protection work on your core enterprise systems could be undone if you fail to consider how personal data is included in your day to day business communication. One of the major changes GDPR brings is significantly increased fines for non-compliance. For example, Pharmacy2U’s fine of 130,000 in 2015 could have been 4.4m under GDPR. Talktalk’s 2016 fine of 400,000 could have been 59m under GDPR. In the new world of GDPR, no company can afford to ignore the risks of shadow IT.
Vmoso from BroadVision helps your meet your data protection obligations by consolidating your business communication in one place, removing the need for shadow IT communication solutions. Instead of messages being scattered across individual users’ email inboxes, or locked into unapproved communication apps like WhatsApp or Line, Vmoso stores all messages in a secure, cloud-based environment, making data discovery, rectification, and erasure straightforward.
Let’s look at an example.
Galaxy Telecom provides phone and broadband services to residential customers.
As Galaxy customer, Sarah is provided with a dedicated Vmoso customer service channel for all her communication.
She has reported a problem to Galaxy customer service, saying she’s unable to access certain websites and is being redirected to other sites.
Lloyd in the customer service team asks for details of which sites Sarah’s trying to access and where she’s ending up instead. During this discussion, Sarah confirms the IP address she’s currently using – this is something that GDPR classes as “personal data”.
As part of this discussion, Lloyd explicitly asks for Sarah’s consent to use the information provided to resolve the issue. A key requirement of GDPR is being able to demonstrate consent to use personal data, and receiving this consent in Vmoso provides a permanent record.
It’s now several months later. Galaxy have recently suffered a security breach of some customer data. They have, as GDPR requires, reported this to the relevant supervisory authority.
At the end of her contract, Sarah chose to switch suppliers so is no longer a Galaxy customer. But she hears about the breach in the news and is concerned that Galaxy may still hold some of her personal data. He asks Galaxy to provide her with all the information they still hold about her , and to delete it all.
Because all Sarah’s interactions with Galaxy have been through a persistent Vmoso customer service channel, this is trivially easy for Galaxy to do. Galaxy are able to provide Sarah with both the records from their core customer database, and a transcript of all the discussions they had with Sarah on Vmoso.
Galaxy’s use of Vmoso enables them to meet their GDPR obligations by providing Sarah with a rapid and comprehensive response.
But the impact of GDPR on communication systems isn’t just limited to customer service. It applies equally to any organisation inside or outside the EU that holds personal data about EU citizens, including cases such as:
With the introduction of GDPR just months away, it’s important that the systems you use for communication receive the same level of data protection scrutiny as your systems of record. Vmoso brings together internal and external communication, integrated to your systems of record, helping you meet your data protection obligations.
Vmoso is a cloud-based mobile-centric platform for empowering digital transformation. A platform that brings together knowledge management, enterprise communication, workplace collaboration and business engagement. Unifying short and long form communication, content sharing, workflow and social networking in one tool with the added benefit of enterprise-level security features, Vmoso is used across all areas of business to save time and simplify getting work done.
Instead of fragmenting your business communication across incompatible consumer apps that were never intended for business use, consolidating it all in Vmoso removes the risk of losing valuable corporate knowledge.
Vmoso leverages 20+ years of software development expertise focused on creating tools for real people that make work life easier, more efficient and more productive.
As organizations embark on programmes of digital transformation, managing collective knowledge is becoming more important than ever. Knowledge is increasingly lost in employees’ email inboxes, or fragmented across a chaotic assortment of new communication tools brought in to address email’s failings.
At BroadVision, we understand that getting your corporate knowledge under control is more that just a technology implementation programme. The Vmoso Enterprise Transformation (VET) methodology is a 10-step iterative process that refines working practices and establishes Vmoso at the heart of your enterprise communication and collaboration.
The entry to the market of disruptive “born digital” companies has both changed consumers’ expectations and disrupted incumbents’ business models, paving the way for a generalized Digital Transformation momentum across companies worldwide. At the heart of this disruption lies a superior ability to analyze data and to continuously deliver actionable information and superior customer experiences. This is the reason why 94% of European IT and Line of Business leaders say they understand today the value of information.
REDWOOD CITY, Calif., May 10, 2017 (GLOBE NEWSWIRE) — BroadVision, Inc. (NASDAQ:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its first quarter ended March 31, 2017. Revenues for the first quarter were $1.8 million, compared with revenues of $2.1 million for the fourth quarter ended December 31, 2016, and $2.0 million for the comparable quarter of 2016.
License revenue for the first quarter of 2017 was $0.9 million, compared to $1.1 million for the prior quarter and $1.0 million for the comparable quarter of 2016. The majority of the first quarter license and subscription revenue was generated from the Company’s BroadVision® Business Agility Suite™, Commerce Agility Suite™, QuickSilver™, and Clearvale® solutions. Revenue during the quarter was generated from sales to both new and existing customers.
In the first quarter of 2017, BroadVision posted a net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $2.6 million, or $0.52 per basic and diluted share, as compared with a GAAP net loss of $2.4 million, or $0.48 per basic and diluted share, for the fourth quarter of 2016 and a GAAP net loss of $2.1 million, or $0.42 per basic and diluted share, for the comparable quarter of 2016.
As of March 31, 2017, the Company had $17.5 million of cash and cash equivalents and short-term investments, compared to a combined balance of $19.7 million as of December 31, 2016 and $27.3 million as of March 31, 2016.
“It’s increasingly clear to us that companies around the world are now recognizing the importance of managing and protecting their corporate knowledge,” said Dr. Pehong Chen, President and CEO of BroadVision. “After a long period of growth of BYOD (bring your own device) programs and unmanaged BYOA (bring your own app), many organizations have realized the dangers these bring. Vmoso’s combination of knowledge management and collaborative processes make it the ideal digital workplace solution for those companies recognizing the need for a single source of truth for their communication and collaboration.”
Conference Call Information
BroadVision management will host a conference call today, Wednesday, May 10, 2017, at 2:00PM Pacific Daylight Time (PDT). The conference call may be accessed by dialing: 1-888-771-4371, with pin code 44807108#. Callers outside North America should call +1-847-585-4405 to be connected. These numbers can be accessed 15 minutes before the call begins, as well as during the call. Afterwards, an audio recording of the call will also be available on the Company’s website at www.BroadVision.com.
Driving innovation since 1993, BroadVision (NASDAQ:BVSN) provides e-business solutions that enable the enterprise and its employees, partners, and customers to stay actively engaged, socially connected, and universally organized to achieve greater business results. BroadVision® solutions—including Vmoso for virtual, mobile, and social business collaboration, and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications. Visit www.BroadVision.com for more details.
BroadVision, Business Agility Suite, Commerce Agility Suite, QuickSilver, and Clearvale are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries. All other company names, product names, and marks are the property of their respective owners.
Information Concerning Forward-Looking Statements
Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future, including statements regarding BroadVision’s ability to continue to generate revenue from its business solutions and service new and existing customers, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include without limitation uncertainty regarding market acceptance of BroadVision’s products and services, BroadVision’s ability to sell Vmoso to its existing customers and new customers, BroadVision’s ability to provide reliable, scalable and cost-efficient Cloud-based offerings, BroadVision’s ability to effectively compete in its intensely competitive market and respond effectively to rapidly changing technology, evolving industry standards and changing customer needs, requirements or preferences, and the other risks set forth in BroadVision’s most recent annual report on Form 10-K for the year ended December 31, 2017, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements except as required by law. These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations.
|BROADVISION, INC. AND SUBSIDIARIES|
|CONDENSED CONSOLIDATED BALANCE SHEETS|
|March 31,||December 31,|
|Cash, cash equivalents and short-term investments||$||17,507||$||19,704|
|Other current assets||2,897||2,082|
|Total current assets||20,404||21,786|
|Other non-current assets||202||207|
|LIABILITIES AND STOCKHOLDERS’ EQUITY|
|Other non-current liabilities||911||734|
|Total stockholders’ equity||14,456||16,863|
|Total liabilities and stockholders’ equity||$||20,606||$||21,993|
|BROADVISION, INC. AND SUBSIDIARIES|
|CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS|
|(In thousands, except per share data)|
|Three Months Ended|
|Cost of revenues:|
|Cost of software revenues||53||38|
|Cost of services||796||772|
|Total cost of revenues||849||810|
|Research and development||1,679||1,743|
|Sales and marketing||957||1,151|
|General and administrative||1,064||985|
|Total operating expenses||3,700||3,879|
|Other income, net||155||656|
|Loss before provision for income taxes||(2,586||)||(2,024||)|
|Provision for income taxes||(12||)||(27||)|
|Earnings per share, basic and diluted:|
|Basic and diluted loss per share||$||(0.52||)||$||(0.42||)|
|Shares used in computing:|
|Weighted average shares-basic and diluted||4,958||4,896|
BroadVision Contact: Peter Chu Investor Relations (650) 295-0716 x7177 Ir1@broadvision.com
New platform redefines traditional business process management (BPM) in the context of mobile-centric and people-intensive activities for transforming both digital workplace internally and digital engagement externally
REDWOOD CITY, Calif., March 15, 2017 — BroadVision, Inc. (Nasdaq: BVSN), a leading provider of mobile-centric platform for empowering digital enterprise transformation, where knowledge management unifies business communication, collaboration and engagement, today announced the addition of Collaborative Process Management (CPM) to its flagship Vmoso suite of solutions.
Whereas traditional business process management (BPM) tools excel at managing well-defined, rigid processes, they typically remain very PC/desktop-centric, suboptimal for today’s highly mobile workforce and customer base. Moreover, they usually fall short in exception/interrupt-driven, people-intensive, and knowledge/decision-centric situations where extensive collaboration and communication are required. From customer services departments to operations teams, from document reviews to field service organizations, almost every enterprise in the world has these collaborative processes, and often handles them inefficiently through email, instant messaging, file sharing, and numerous other tools/sources around any core BPM, causing serious knowledge fragmentation problems for the enterprise and significant waste of time and frustration for users.
Vmoso CPM is the first BPM solution that combines structured, semi-structured, and unstructured business processes in one go, offering users a seamless experience to conduct ad-hoc collaboration around well-orchestrated workflow by bringing accountability, continuity, and serendipity together to get the job done faster and better. It empowers companies to introduce just the right amount of structure for their business processes, to be facilitated by agile and timely knowledge-based collaboration, rather than overtaken by a disorganized mess of email, IMs, and other fragmented activities.
Vmoso CPM is an open and extensible platform, which can be easily customized to meet every enterprise’s needs. Each process is defined by 3 inter-related XML files for specifying its workflow, form, and language locales. Once orchestrated into a process template, it can be provisioned by the enterprise under stringent security and access control, or shared peer-to-peer to other users for more ad-hoc use cases. Through Vmoso Integration Bot (VIB), a process can be connected to any external content or data sources, including Internet of Things, for authentication, schema mapping, data input/output, location-based services, as well as action triggering on a bi-directional basis.
BroadVision CEO, Dr. Pehong Chen, commented that “Vmoso CPM is a truly innovative solution. By integrating BPM, collaboration, and knowledge management into a holistic platform, it can help global companies accelerate their enterprise transformation across both their digital workplace internally and customer engagement externally, achieving unprecedented business velocity, agility, loyalty, and profitability.”
For more information, please visit broadvision.com/vmoso.
Driving innovation since 1993, BroadVision (NASDAQ: BVSN) provides e-business solutions that enable the enterprise and its employees, partners, and customers to stay actively engaged, socially connected, and universally organized to achieve greater business results. BroadVision® solutions—including Vmoso for digital business transformation and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications.
BroadVision and all its case-sensitive permutations are trademarks of BroadVision, Inc., registered in the United States and other countries.