RightFax Helps Meet Compliance Efforts
What is Sarbanes-Oxley?
Sarbanes-Oxley is a law that requires all publicly traded companies to maintain all correspondence, communications, electronic documents, faxes, and application data and records between themselves and their public auditors for five years. 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 can utilize software and hardware products to better protect and access the central information.
Four Ways RightFax Helps with Sarbanes Oxley Compliance
1. Automates Information Delivery and Helps Safeguard Information Accuracy
Traditional delivery methods (postage, manual fax, and courier services) increases risks for breaching the Sarbanes-Oxley Act because they 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.
RightFax helps safeguard information accuracy by automating document delivery. It allows financial reports, correspondence with auditors and other corporate information to 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.
2. Provides a Centralized Communications Hub for Corporate Financial Information
Sarbanes-Oxley requires all communications, documents, and work flows to both originate and be stored on central servers. RightFax 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.
3. Enables Secure and Encrypted Electronic Delivery of Financial Information
RightFax helps ensure that documents are not altered during transmission. With RightFax, information is transmitted as image-based PDF or TIFF 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. RightFax also offers an add-on module that lets you increase security by encrypting all stored, “at-rest” fax images—preventing any unauthorized access to information.
4. 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. This makes handling digital documents are very important— how they are delivered, who delivers or receives them, and how they are stored can have significant consequences. Therefore, it is crucial for organizations to improve the efficiency and reliability of how they manage and track digital documents.
RightFax processes inbound and outbound fax documents and can be configured 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 passwords and route incoming faxes to individuals' fax or email in-boxes. This provides electronic storage and a deeper audit trail for covered documents to help satisfy Sarbanes-Oxley tracking and storage requirements.