The Sarbanes-Oxley act is a wide reaching act which arose in the wake of the ENRON scandal in America. The act is designed to increase the transparency of business processes and prevent financial fraud. Its wide scope - reforming business practices - inevitably means that the storage and management of electronic data are now more stringently regulated.
The scope of the Sarbanes-Oxley act raises some interesting points. The improvement of business practices in general can only be of benefit to a company. Several reports have outlined the possible benefits to organizations who implement a comprehensive solution for IT compliance.
For the publicly listed companies covered by the Sarbanes-Oxley act, studies have suggested that those companies properly complying with the legislation are perceived as more reliable by investors and their borrowing costs have become lower.*
The same basic principles are true for all companies complying with any of the compliance laws. If a company's data - and in particular their financial data - is properly managed and stored, the company will be in a better position to avoid fines, avoid costly mistakes and avoid data chaos! The proper management of data in an organization can only lead to a more efficient operation. Increased efficiency leads to productivity and higher staff morale.
This is what FILERO offers organizations. Not only will FILERO help you to conform to the latest legal requirements as part of your ongoing compliance processes, it will improve your business processes and increase efficiency and productivity.
FILERO offers a highly cost-effective Enterprise Information Management (EIM) solution which manages the seamless integration and archiving of data from application databases, as well as all other types of structured and unstructured physical and electronic information. The system is modular and can be implemented in stages according to an organization's specific requirements. FILERO can run alongside existing applications and integrates well into existing working practices. FILERO's versatility, ease of use and integration with existing programs and processes will save your organization time and money as well as facilitating a real increase in user productivity.
FILERO Enterprise Information Management is therefore the ideal solution for all of an organization's content management needs and can also help ensure compliance with the latest regulations along the way.
* Institute of Internal Auditors (2005), Skaife/Collins/Kinney/Lefond (2006).