Economic Stimulus Package Has Tough Data Breach Requirements; Bodes Well for PeakData Services Growth

PeakData Services, Inc., a fast-growing IT provider dedicated to information security compliance and risk mitigation services, said today that provisions of the U.S. economic stimulus package known as the American Recovery and Reinvestment Act (ARRA) bode well for accelerating its already robust growth.

Boulder, Colo. (PRWEB) July 9, 2009 -- PeakData Services, Inc., a fast-growing IT provider dedicated to information security compliance and risk mitigation services, said today that provisions of the U.S. economic stimulus package known as the American Recovery and Reinvestment Act (ARRA) bode well for accelerating its already robust growth.

Affirmation of this view is provided in a new vendor profile of PeakData Services. Leading research firm IDC estimates the $788.7 billion spending in ARRA will stimulate approximately $101.2 billion of technology spending in the energy, healthcare and government sectors. Source: (IDC, SVP.38: PeakData Services for Privacy and Environmental Compliance, Doc # 219007, June 2009).

IDC noted that the Health Information Technology for Economic and Clinical Health (HITECH) Act security breach notification provisions, enacted as part of ARRA 2009, impose breach notification requirements on covered entities, business associates, vendors of personal health records, and related entities in the event of security breaches related to protected health information.

PeakData Services says that it sees both a toughening and some clarification in the regulatory environment. For example, data breach notification laws have become both more stringent and varied in recent years, with states such as California, Massachusetts and Nevada creating tough, new legislation.

"This hodge-podge of state-sponsored legislation has proven very difficult for individual businesses to manage," said Glenn Jacobsen, vice president and general manager of PeakData Services. "As such, proposed national legislation such as the Data Accountability and Trust Act that is working its way through congress could simplify things for organizations that deal with sensitive customer information. There is no getting around the fact, however, that legislation in general is putting a sharper focus on protecting data privacy."

According to IDC, in the European Union (EU), there is a growing but highly debated push for U. S.-style mandatory data breach notification regulations. On the environmental front, increasing consumer awareness about the effects of global warming is compelling local, state, and national governments to push for more aggressive environmental compliance and sustainability programs.

"Forward thinking organizations have made it a strategic priority to stay ahead of the regulatory curve," said Jacobsen. "They are implementing best practices with respect to protecting data from intrusion. At the same time, they are either re-purposing or disposing of storage assets in environmentally responsible ways. This IDC profile of PeakData Services brings the incremental regulatory pressures into sharp perspective for those that may not be as ahead of the curve as they need to be," added Jacobsen. The IDC profile is available at www.peakdataservices.com.

About PeakData Services
PeakData Services, Inc. develops and delivers consulting and professional services that incorporate industry-leading people, products, tools, and methodologies to help companies mitigate risk by showing them how to store, protect, and manage their business-critical information more efficiently and cost-effectively. PeakData Services works directly with clients or through leading IT services partners such as Hitachi Data Systems and Sun Microsystems. PeakData Services is headquartered in Boulder County, Colorado, U.S.A. For further information please visit: www.peakdataservices.com.

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