There are all sorts of missing functionality that would need to be implemented to be competitive, including critical path analysis, earned value analysis, Pert and Gantt charts, resource loading, milestone tracking and eventually, inevitably, time reporting and client billing. My own personal view is that I would not like to see MLO try to compete in the area of full scale project management tools. My company has very strict rules about using in house services only and I am absolutely sure many more will follow. If all these things are not in place then you are really just putting your property out there on the hope that you are anonymous enough so as not to attract the wrong kind of attention. All these things can easily double or triple cost. There also needs to be real penalties when security is breached that are in line with damages caused and the service should be able to demonstrate monthly that it has not yet occurred. Your company's intellectual property deserves protection which can only come from relentless patching, audit trails, and a guarantee to you the consumer that the information you put in that service is and will always remain yours.
It is so enticing to embrace them but look at the articles popping up about cyberspying, and we are just seeing the tip of the iceberg. Web based services are the technical junk food of the 21st century.
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