What role does document management play in a company’s compliance strategy?
In today’s litigious society, businesses are required to comply with a whole host of regulations and laws such as Sarbanes Oxley, Basel 11 and the Freedom of Information Act. The demands of this legislation make it increasingly important to have a strategy in place for managing documents and archiving material to an agreed set of standards.
A good electronic document management system is essential to ensure security, confidentiality and instant availability of a company’s valuable business information. Every kind of documentation whether it be emails, Word documents or Excel spreadsheets , should be captured, indexed and stored in a structured system and should be easy to access by appropriate personnel. User rights should be defined, denying access to those who are not authorised in order to maintain the safekeeping of certain types of data.
An electronic document management system will allow best practice to be followed when managing records and will enable companies to locate critical information at the touch of a button should it be required for legal reasons. The ability to comply with legislation can save a business thousands of pounds in legal costs so a relatively small investment in a document management system could be a life saver.
For more information and advice on implementing an electronic document management system please call The IPC Group on 08081 45 4647.