Sarbanes-Oxley Compliance with Fax Server, RightFax
OpenText's Fax Server, RightFax and Sarbanes-Oxley Compliance
Sarbanes-Oxley compliance requires that all publicly traded companies maintain all correspondence, communications, electronic documents, faxes, and application data and records between themselves and their public auditors for five years. The Act requires the CEO and CFO to sign certifications that the statements in the quarterly report are true and can be supported with all necessary documentation. Sarbanes-Oxley requires companies to be able to supply records supporting public assertions about their financial statements and prevents retaliation against employees who report abuse. It also mandates that all communications, documents, and workflows should both originate and be stored on central servers to ensure that management always has copies of every stored document, and is able to utilize software and hardware products to better protect and access the central information.
Top 5 Ways Fax Server Helps with Sarbanes Oxley Compliance
One: Automates Delivery of Business Information Helps Safeguard Information Accuracy
Traditional delivery methods (postage, manual fax, and courier services) are vulnerable to breaching the Sarbanes-Oxley act because these processes require manual handling and expose documents to alteration or view by unknown or unauthorized people. In addition, these methods are often unreliable and do not always provide guaranteed or confirmed delivery. Fax Server can help safeguard information accuracy by automating document delivery. Fax Server financial reports, correspondence with auditors and other corporate information can be electronically delivered in real-time, directly from any application to the intended recipient's fax or email inbox with notification of receipt. This eliminates the human factor when disseminating information and limits the opportunity for information to be altered or misrepresented.
Two: Provides a Centralized Communications Hub for Corporate Financial Information
With Sarbanes-Oxley all communications, documents, and work flows should both originate and be stored on central servers. Fax Server offers a centralized server solution that integrates with an organization's ERP, financial, imaging, archiving, and other corporate information systems on the network to provide inbound and outbound document delivery via fax, email, or the Internet. It performs as a centralized hub for electronically disseminating corporate communications and streamlines workflow processes to enable timely and reliable disclosure of corporate financial data.
Three: Enables Secure and Encrypted Electronic Delivery of Financial Information
Fax Server provides encrypted and certified email delivery options that require passwords to access information, as well as electronic verification of receipt for better authentication. Such features help mitigate the risk of information being altered and provide an added layer of security for organizations when they transmit corporate communications.
Four: Enables Tamper-resistant Information Transmission
Fax Server electronic document delivery solutions help ensure that documents are not altered during transmission. With Fax Server, information is transmitted as image-based PDF or TIF documents via a secure PSTN and then stored electronically on the fax server. This helps organizations ensure that information is not tampered with during transmission and that original data integrity is retained.
Five: Improves Tracking and Storage
With Sarbanes-Oxley publicly traded companies must maintain all communications, application data, and records between themselves and their public auditors for five years. As a result, digital documents are very important. How they are delivered, who delivers and receives them, and how they are stored can have significant consequences for enterprises. Thus, organizations must improve the efficiency and reliability of how they manage and track digital documents. OpenText's Fax Server, RightFax processes inbound and outbound fax documents and can be con-figured to store incoming and outgoing faxes electronically in a secured network storage device, archiving system or database. Among other functions, it can also track fax history, provide verification of fax delivery, assign access pass-words, and route incoming faxes to individuals' fax or email inboxes. This provides electronic storage and a deeper audit trail for covered documents to help satisfy Sarbanes-Oxley tracking and storage requirements.