Vancouver, British Columbia, Dec. 8, 1999 Pivotal Corporation, a leading provider of e-business relationship management (eBRM) solutions, and Gladwyne Software Surety (GSS), a leader in information technology risk management services, announced a ground-breaking initiative that provides a third-party guarantee for KPMG implementations of Pivotal solutions. As the first-ever insurance-backed IT initiative, this program marks a turning point in the software industry by establishing true accountability for IT implementation.
"KPMG, Gladwyne Software Surety and Pivotal have created the model for bondable IT implementation,” said Norm Francis, president and CEO of Pivotal Corporation. “The IT industry must adopt a valid and authoritative method of accountability. The model we have created will solidly protect the investments of KPMG/Pivotal customers.”
The insurance - called a surety bond - ensures that KPMG implementations of Pivotal solutions are on time and on budget. The surety bonds are issued by several leading insurance companies and are based on the risk mitigation principles used successfully in the insurance industry for more than a century. Based on its initial application, KPMG and Pivotal have received approval for a bond-line of up to $50 million to insure approved projects. The surety bonds are issued through the GSS Risk Management Program and provide a high-degree of assurance for executives making IT purchasing decisions.
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