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| |  | | Sarbanes Oxley Compliance | | One of the most significant changes to federal securities laws in history, the Sarbanes-Oxley Act of 2002 requires public company management and outside auditors to report on the effectiveness of the company's internal controls.
Sarbanes Oxley compliance requires top management sign off on financial reports as evidence that adequate internal controls exist to ensure reliable financial reporting. Internal controls include securely storing larger volumes of sensitive information from different systems for longer periods of time, as well as retrieving data and accessing digitized paper and emails quickly and easily.
Sarbanes Oxley compliance failure results in severe consequences from heavy fines to even jail.
| Xerox Solutions
Records Management
Companies that have not considered the impact Sarbanes Oxley compliance has on their business practices should recognize that a successful Records Management strategy will solve paper and electronic document management challenges beyond those posed by government regulations.
As much as organizations would like to eliminate paper, a document strategy that ignores the complementary relationship of paper and digital information will be ineffective. A joint study by Xerox Corporation and research firm IDC, found fewer than 40 percent of organizations surveyed have digitized their document-dependent business processes.
We use Lean Six Sigma to efficiently integrate and manage electronic content, data, and hard copy records for Sarbanes Oxley compliance, as well as meet other regulatory requirements and organizational goals.
Litigation Services
Good document management minimizes corporate risk for Sarbanes Oxley compliance as well as for corporate litigation. However, numerous controls on e-mail management and paper documents still remain a constant challenge for large enterprises.
While digital records can be easily indexed and tracked once entered into a system, paper documents require a large amount of physical space, are difficult to index and retrieve, and possess limited chain of custody if the company faces litigation.
For companies facing litigation due to Sarbanes Oxley compliance or otherwise, the symptoms of losing control over records can be pervasive and expensive. Dangers of an ineffective document management process can include a greater risk of court sanctions for missing deadlines and personal exposure to corporate officers and counsel for criminal and civil penalties.
Smarter Document Management
Xerox combines document technologies and processes to make paper and digital records easily accessible and intelligent. Our services are customized to fit within your budget and schedule.
Learn how our customized services help you stay on top of Sarbanes Oxley compliance and other regulations, as well as streamline your discovery process for litigation.
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