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Technology Stocks : Investing in Exponential Growth

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From: Paul H. Christiansen8/5/2016 9:24:39 AM
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Why This 160-Year-Old Company Is Embracing Cloud Apps

Western Union was one of the first businesses to invest in communications satellites when it helped NASA launch the now-retired Westar 1 in 1974, which it used to send telegrams and mailgrams around the world. Now the 160-something-year-old money transfer company is looking toward a different sort of cloud.

On Thursday, Western Union disclosed a big corporate contract with Box BOX 0.85% , the online file-sharing company. After a brief pilot test involving about 400 employees, Western Union WU 3.87% plans to use Box’s cloud services to archive and share corporate documents among its 10,000 employees and roughly the same number of contract help, explains Mike Bartholomy, senior manager of information security for the company.

“We are a 160-year-old company, but try not to act like it,” says Bartholomy.

Of particular interest was Box’s technology for controlling document deletion schedules, as well as other “governance” features that make it difficult for employees to share sensitive information such as credit card or social security numbers inadvertently. Another plus mentioned by Bartholomy, the Box service can be used as a digital file cabinet for apps such as Microsoft Office 365, the Salesforce contact management system, and an internal social network built using technology from Jive Software.

fortune.com

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