Creating Compliance by Integrating Fax & Document Management
If you attended our today’s Webinar on creating compliance within your organization, you will remember that we spoke about Fax and ECM connectivity and how these together can enhance the compliance ad regulatory needs of your organization.
Industry compliance is at the top of many companies’ agendas around the world. And document management systems especially represent challenges for businesses trying to respond to legislation, regulations, or corporate governance initiatives as they relate to workflow, access control, version control, and search and retrieval issues, all while not losing sight of core goals: efficiency, customer service, and profitability.
Whether it is the Sarbanes-Oxley Act, Freedom-of-Information Act, HIPAA, Basel II, SEC Rule17 (a) 4, or any number of other regulatory frameworks, legal and/or industry compliance has vaulted to the top of almost every Company’s agenda around the globe.
Those compliance needs dovetail with many of the features found in document-management solutions that bring greater organization and control of documents — and serve as a foundation for numerous compliance-related initiatives. With their workflow, access control, version control, and search and retrieval features, document-management systems enforce the controls that companies seek to establish in their efforts to comply with legislation, regulations, or corporate governance initiatives.
In undertaking compliance initiatives, it is important for businesses to not lose sight of core goals: efficiency, customer service, and profitability. Aligning compliance initiatives with overarching business goals enables the business to benefit from compliance — not merely succeed in spite of the hindrances that compliance can bring. Properly implemented, document management means more than following the “letter of the law”, it represents:
- Smarter Process Flows
- Lower Operational Costs
- Increased Productivity
- Enhanced risk Management
With their ubiquity, familiar paper format, and simplicity, faxes remain a popular medium for information exchange. But they do present significant challenges for enterprises of virtually every size. Business process automation — streamlining structuring, and accelerating the flow of information and execution of tasks and processes — can bring faxing challenges into sharp focus. Amplifying the challenges, of course, is the significant issue of regulatory compliance.
Unfortunately, in many companies, fax machines are “out on the floor”— using traditional scanning and printing technologies for input and output — and this presents shortcomings that directly affect compliance.
Consider the variety of instances and departments where faxes are a central communications medium. They are a vital presence in sales and legal departments (where contracts are faxed back and forth). Many purchasing departments continue to use fax as their exclusive method for issuing purchase orders. HR departments rely on faxes to receive resumes or send offer letters. And financial professionals often communicate with accounting firms and banks through faxing.
This huge installed base of fax machines is a dominant force that requires intelligent fax technology to play a central role in document management. If companies want to conduct business and remain in compliance, a fax-document management strategy can be a non-negotiable requirement.
Fax Server Solutions: A Higher Level of Document Management for Compliance
As enterprises and IT professionals contemplate strategies to improve compliance while streamlining their business processes, many are giving fax servers careful scrutiny as a potential solution to these challenges. As the name suggests, a fax server supports centralized faxing services for network connected nodes. A fax server enables users to add cover pages, specify transmission instructions, integrate contact information from address books, send faxes from enterprise applications, automatically email incoming faxes to named recipients, and so forth.
The advantages of a fax server are numerous, of course, because a central server is managing the flow of faxed information in an electronic, not paper, format. That immediately enables IT departments to structure how that information is accepted, routed, audited, and archived. The capabilities and benefits of this approach include:
- Integration with other IT Systems
- Document Management Integration
- Capture and stored electronically
- Inbound fax routing
- Searchable indexes
- Workflow integration
- Improved Auditing
An now we look at Facsys Used by over 3,500 organizations in every industry, fax remains a proven transmission medium at the core of business communications. In key functional areas such as sales, procurement, human resources and legal, fax is the standard means for ensuring secure transmission and receipt of critical information. Now the best of breed, enterprise fax solution is tightly connected with freedoc, so that both sent and received faxes can be stored within the freedoc repository. That does this mean for you, it means that you now have a fully searchable, indexed and tagged repository of every fax your company sends and receives.
Want to know more about out Fax or ECM Capabilities ? Get in touch.