Scanning as a Compliance Driver

In an unpublished InfoTrends’ research project conducted slightly more than one year ago, we surveyed the US financial services industry to learn about the adoption rates and technology usage behaviors of office/workgroup document solutions. Compliance matters loomed large in this study.

We surveyed more than 350 businesses in the segments of: banking, insurance, investment, and credit and lending. Approximately 50% of the respondents came from large businesses with 1,000 employees, followed by an even split between medium (100-999) and small (1-99) at 25% each.

We asked many questions about technology and compliance. One question in particular caught my attention and was able to summon up the slide from my archives. The question posed had 344 respondents and it was phrased this way, “please identify whether you believe the following technologies would help with the following compliance regulations. Please check all that apply.” (refer to graph immediately below)

View this photo

Scanning hardcopy documents as an action to help organizations meet the requirements of compliance ranked highest in value across all ten compliance measures tested, whereas, scanning hardcopy documents directly to a central repository scored second highest in value against these same measures.

It became clear to us that scanning as a baseline business activity is highly valued by the respondents of our survey as playing a critically important function in helping their organization to satisfy a plethora of compliance regulations. Capturing paper-based documents digitally via scan followed by indexing, routing, storing and securing same is vital to an organization’s ability to be compliant, regardless of the regulation in play.

So is scanning a compliance driver? From our perspective, yes indeed.

For more information, I would focus on the following regulations/standards, which hit all of the major elements of compliance and are the most far-reaching and well-known:

Amended FRCP (Federal Rules of Civil Procedure)

Records management, archiving, and discovery perspective

• http://en.wikipedia.org/wiki/Federal_Rules_of_Civil_Procedure <-- high-level overview
• www.uscourts.gov/rules/EDiscovery_w_Notes.pdf <-- the amendments with notes
• https://extranet1.klgates.com/ediscovery/ ß a searchable database of e-discovery cases… good stuff

HIPAA (Health Insurance Portability & Assurance Act)

Security and privacy

• http://en.wikipedia.org/wiki/HIPAA
• http://www.hhs.gov/ocr/hipaa/ - Health & human Services Web site for HIPAA information
• http://www.cdc.gov/mmwr/preview/mmwrhtml/m2e411a1.htm - HIPAA Privacy Rule and Public Health Guidance from CDC and the U.S. Department of Health and Human Services*

SOX (Sarbanes Oxley)

Internal controls

• http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act
• http://en.wikipedia.org/wiki/SOX_404_top-down_risk_assessment <-- section 404 of SOX is the infamous “internal controls” part… this risk assessment is a key aspect of compliance

This is also interesting -- http://www.whitehouse.gov/omb/memoranda/fy2008/m08-15.pdf

A white house memo saying that “When planning for and acquiring information systems and services, agencies must incorporate records management and archival functions, including the cost of implementing and maintaining those functions, into the design, development, and implementation of information systems.”

Comments

[pensioen verzekering]

This blog is great and has provided interesting and useful information. Thanks and I hope to see such information in the future as well.

[Nike Air Max 90]

Hello!!It is my horour to see you blog.Iam agree with you,Ithink friendship is very important,so we must have a lot friend,History repeated proof: friend, health than leadership than performance than IQ, eq, holiday greetings than usual, as an important than. Space than the ground is good, to visit friends, no tickets. If you want to buy a shoes, Please come here Nike Air Max 90.
http://www.buynikeairmax90.com
http://www.uggbootstore.org
http://www.uggbootsvv.com

[records management]

Thanks for sharing your knowledge.In today's environment everything is becoming automatic and computerized. Maintainence of papers is vary difficult because by the time it could be damage or lost, By the scanner we could make them easy to available and well organized.

[discount uggs]

A white house memo saying that “When planning for and acquiring information systems and services, agencies must incorporate records management and archival functions, including the cost of implementing and maintaining those functions, into the design, development, and implementation of information systems.”

[cheap jordans]

i believe in tomorrow is more beautiful.

[Estesark]

I wonder is there really much point in having the lesser teams there wasting a fortune? No one ever notices them unless there is a big accident. They have no chance of getting on the podium. Even Mercedes can't.

[live0594]

Rosberg is definitely going places. How about our very own Paul di Resta?... ,he's developing the habit of picking up points, and with more experience he could be up there with the high-flyers, no doubt about that. But where do we place SCHUMACKER?....can he still hack it?....given the right car, he could still be up there again.

[live]

I’ve just watched you thoughts on the new UK television rights deal, thank you for addressing this subject as it was very much a hot potato on the BBC Practice/Qualifying/Race and Forum coverage.

[google]

Then the next day HRT team boss Colin Kolles is quoted as saying “He [Bernie] has also done fantastic for the fans because it is not only 10 races on BBC live, you also have the other 10 races on at prime time, at 6pm, on BBC - which is even better because I don't believe that someone likes to wake up at 4am to watch an F1 race.”

[niceman]

I wonder is there really much point in having the lesser teams there wasting a fortune? No one ever notices them unless there is a big accident. They have no chance of getting on the podium. Even Mercedes can't.

[fortunes]

So let's keep up the momentum on both blogs - they will probably be gone tomorrow.

[birthday]

If most of the teams were competitive and had at least some chance of winning. It is supposed to be the pinnacle of motor sport, but half the teams get lapped. Once great teams like Williams or Lotus just cannot compete financially with the top teams. I know there is no way it can change. It's a bit like the Premier League the rich get more powerful and win everything.

[woolrich]

Murray, the other nine teams won't be there after a few years on Sky

[selectelive]

Don't worry I have already made an orginal complaint about the coverage deal and got to the Neil Land snail mail stage, and a complaint about the fact that the original blog was closed. I will now make a further complaint about the other blogs being closed with no decent response to our legitimate concerns about the future of our sport in the UK, although I expect the same copy and paste reply.

[seeyoufly]

Nico Rosberg finished third in Turkey this year. He also finished third three times last year, in Malaysia, China and Britain.

[saleionme]

The Turkish podium this year was Vettel, Webber, Alonso, but nico does have the podiums mentioned from last year

[makesoeasy]

I think others have said that a 90-minute highlights show a couple of hours after the race has finished would be fine, if it was followed at (say) 1am til 5am on BBC 3 by a full re-run of the pre-race build-up, race and then an intelligent Forum-type discussion. But that's FAR too simple I guess for these people to master, and that slot is probably given over to a re-run of that night's "All Star Chav Vauxhall Nova Pimpothon".

[peuterey]

One thing though, how come Murray didn't answer any of our questions?

[waterside]

If you would like to comment on the new UK television rights deal, please go to the BBC's head of F1 Ben Gallop's blog on that subject

[coachpurses]

If we keep lobbying MPs and Parliament along these lines we stand much more chance of eventually getting the F1 decision reversed.

[discountbag]

The Turkish podium this year was Vettel, Webber, Alonso, but nico does have the podiums mentioned from last year

[bracelets]

That was another fabulous race in Hungary, with the top three teams fighting for the win but in every Formula 1 race there are 12 teams and 24 drivers.

[vuittonbag8]

No Murray Nico Rosberg already had podiums for Mercedes! Classic murrayism!

[lazryman]

Writing in the Daily Mail newspaper, Walker added that he also feared for the sport itself, with the expected drop in viewing figures likely to have a knock-on effect on the teams.