| What is SOX?
SOX or Sarbanes – Oxley Act of 2002 is titled after its authors Senator Paul Sarbanes and Representative Michael Oxley.
The landmark law is designed to improve corporate responsibility and accountability, enhance financial reporting and disclosures, and ensure auditor independence. Failure to adhere to the act can result in devastating consequences; in some cases the damage done can be irreversible.
Why does SOX require Document Management?
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Section 404 of Sarbanes-Oxley emphasizes the importance of documents and records management and assessment. |
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Sections 103, 104 and 801 necessarily require appropriate filing, retention and preservation of audit records. |
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Section 105 requires that these records must also be easily retrievable. |
How Can Efact Help?
Efact is an easy-to-use document management software which allows an organization to...
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Create a secure, centralized and searchable archiving of all its paper and electronic documents. |
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Control a user's access to the archived documents and/or folder level security |
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Record details history of the document such as when it was viewed, faxed or emailed and by which user. |
Is efact SOX compliant?
The covered organization is responsible for SOX compliance and not the product or vendor. The organization must have the mechanism in place that guarantees secure electronic storage, access and transmission of records.
It is organizations not the technology that must be SOX compliant. However technology can be used to help the organization in its efforts to be SOX compliant.
Organizations who wish to be SOX compliant can use efact to take important steps towards that goal. Efact requires the user to login before he or she can get access to the documents and their indexing data. Efact can easily be used to scan in paper based records. Electronic documents can also be transferred to Efact. You can print from any Windows based application into efact directly, eliminating the need for printing and scanning.
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