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Alfresco Upgrades Software, Delays IPO

Alfresco, an open source platform for enterprise content management, has upgraded its records management module and released the next version of its syncing technology, Alfresco One (v 4.2). But the news seems to be overshadowed by reports that the company is delaying its much-anticipated US initial public offering.

The upgrades to the records management module focus almost exclusively on enhanced compliance features, while the upgrades to Alfresco One focus on integrating records management into enterprises existing content lifecycles. Both upgrades were announced this week.

Waiting to Go Public

If the product news has largely been overlooked, it is probably because of the stir that Alfresco CEO Doug Dennerline caused when he said in an interview with the Register that Alfresco will probably not float a US IPO for at least three years.

For anyone who has been following the recent history of technology IPOs, his announcement makes sense. Last year’s frenzy around the Facebook launch has made many companies cautious, a fact that is underlined by the approach Twitter is taking to its own stock offering, which is expected to be announced at the end of this month.

But UK-based Alfresco piqued interest in a possible IPO when it appointed a new US-based CEO in January.  Many people speculated the appointment was related to initial preparation for an IPO.

However, Dennerline dismissed rumors of an impending stock offering. He said an IPO is at least three years away and that he will focus, in the meantime, on raising funds to build out the company's product portfolio.

Software Upgrades

The upgrade to the records manager is a case in point. The new capacities make it easy to introduce retention policies by offering the ability to turn a document into a record without having to move it to another site or even out of the enterprise workflow entirely.

It has also automated the placement of records into specific file plans, which reduces the number of times a file has to be moved, as well as providing the ability to create file plans based on preconfigured business rules.

From the Alfresco One upgrade, users will be able to integrate records management into an enterprises’ content lifecycle across both the cloud and on-premises infrastructure, effectively guaranteeing that information will remain compliant and automatically protected no matter where it is located or moved.

Neither upgrade is groundbreaking. But combined, they provide an added level of information security. Keeping in mind that its records management module is DoD5015.02-certified, security and compliance are key elements and, as such, anything that improves either will create greater confidence in the product.

Expect more from Alfresco soon.

 

 
 
 
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