Reason #3: Enhanced Document Compliance
I’m continuing the thread of my previous posts on the “fantastic four” reasons why organizations should consider electronic document scanning. These reasons include: improved document control, superior document availability, enhanced document compliance, and reduced document risk. Today I’m spotlighting reason number three: enhanced document compliance.
While an organization can adhere to regulatory compliance requirements by maintaining hardcopy documents, statutory, legal and contractual obligations may require that viable back-ups exist. Electronic document management systems make it easier for an organization to comply with these and other requirements. A financial services company engaged Océ to take over document imaging for its back-end credit and loan application process. Because the storage and retention of these documents must meet strict compliance and regulatory requirements, Océ and the client redesigned the document imaging procedure to include the front-end credit and loan process, starting when the documents are received. This insures that electronic document files are complete, accurate, and unaltered when fulfilling audit and legal requests. With only the back-end imaging process, there were no assurances that documents were unaltered from the time they were received.
I’ll wrap up the “fantastic four” series of office document scanning benefits in my next post. If you’re interested learning more, our web site (www.obs-innovation.com) and the AIIM Digital Landfill blog (www.aiim.typepad.com) offer information on digital imaging management.