A critical factor in regulatory compliance is the existence of a centralized repository of electronic business records. infoRouter provides an effective centralized repository which streamlines the

  • capture
  • classification
  • retention
  • disposition, and
  • management

of critical business records and documents.

Federal Regulations

Companies are ordered by law to make significant changes to their IT infrastructures and business processes to comply with federal regulations such as

  • The Sarbanes-Oxley Act,
  • The Health Insurance Portability and Accountability Act (HIPAA), and
  • The US Patriot Act.

Non-compliance is no longer optional

Archiving e-mail messages, protecting the confidentiality of sensitive electronic records, documenting financial transactions are no longer optional. An effective Records Management Software is essential.

Cost of UNINTENTIONAL Non-compliance with Sarbanes-Oxley Act for corporate officers:

  • Lawsuits
  • Bad publicity
  • Fines up to $1 million
  • 10 years jail time
  • If the non-compliance is intentional, then the penalties can go up to
  • $5 million in fees, and
  • 20 years in jail.

Did You Know That...

a health care provider must comply with HIPAA Privacy Rules if it electronically transmits any health information?

An Integrated Regulatory Compliance Solution

infoRouter Records Management Software is an integrated solution that allows organizations to create and manage a set of uniform models to

  • retain
  • secure
  • classify
  • search
  • retrieve
  • automatically notify, and
  • issue alerts about

changing content.

Avoid Pain of non-compliance

In the ever-changing landscape of business where non-compliance may mean

  • costly fines
  • sanctions
  • litigation, and
  • personal liability for corporate officers

infoRouter provides an effective regulatory compliance solution that helps you stay compliant with the growing number of regulatory compliance initiatives and industry regulations.

By using infoRouter, you can manage your company's financial liability and litigation risk by effectively addressing the mandates imposed by the following:

  • Managing of records related to financial and accounting information for compliance with the Sarbanes-Oxley Act (SOX), particularly with Section 404.
  • Industry regulations, such as ISO Certification and Quality Management
  • Regulatory compliance with mandates from governmental agencies such as Securities and Exchange Commission (SEC)
  • Regulatory compliance with mandates from HIPAA
  • Compliance with Federal record-keeping laws and regulations. DoD 5015.2 Compliant Records Management
  • Managing of records related to civil litigation or government investigations
  • Managing of records related to Human Resources such as discrimination, wrongful termination, sexual harassment, etc.
  • Corporate Governance
  • Banking Compliance
  • Process of documenting and testing internal controls
  • Document retention, document retrieval and audit trails and tracking of documents
  • Management of electronic patient records

An ISO-compliant company will have a better reputation in the market place and will have comparatively better chances of attracting good investors

What are these regulatory compliance requirements?

A common issue with most regulatory mandates is the "consistency" of records management and handling. Almost all mandates call for a documented set of procedures that are consistently applied to all records. Organizations must also establish systems that provide complete audit trails of access to sensitive documents.

Examples

  • Sarbanes-Oxley Act requires that all public companies document their financial reporting procedures.
  • ISO Certification requires that all company activities are documented and these procedures are regularly reviewed and audited.
  • SEC is in charge of enforcing the Sarbanes Oxley Act and has the same requirements.
  • HIPAA requires that the handling of sensitive patient records is documented. Access to records are subject to strict controls and all access to any record is tracked.
  • DoD 5015.2 STD Records Management Guidelines calls for a set of rules whereby documents are created, maintained, archived and destroyed. Not surprisingly, all actions taken on a document or record must be tracked.

How can infoRouter help you with Regulatory Compliance?

The infoRouter Document and Record Management Software solution gives you the ability to perform all the requirements listed above.

All ISO documents, Sarbanes Oxley documents can be assigned to individuals for their periodic review and approval. This way, not only everyone involved are regularly informed of the procedures used, but they are also given a chance to improve these procedures and control them more tightly.

Automatic Document Tracking

Whether a document has to do with Sarbanes Oxley or ISO or any other regulation, all document changes and updates are automatically tracked. Since all previous versions are tracked, the information on "who changed what and when" is always readily available.

Automatic Alerts

Better yet, whenever a document's content is changed, all interested parties are automatically alerted of these changes.

 

 

For more information on Sarbanes Oxley Act of 2002, visit the Sarbanes Oxley Act of 2000 - Financial and Accounting Disclosure Information

For more information on Health Insurance Portability and Accountability Act (HIPAA), visit their site at HIPAA