7 Ways Document Storage On Cloud Empowers You To Ace Compliance

In 2023, data privacy concerns will intensify, and regulatory requirements will follow suit. New state privacy laws that will go into effect in 2023 include California Privacy Rights Act; Virginia Consumer Data Protection Act (VCDPA); Colorado Privacy Act (CPA) and Connecticut Act Concerning Personal Data Privacy and Online Monitoring (CTDPA). The General Data Protection Regulation (GDPR) which protects the data of members of the European Union (EU) still has a global impact because it applies to every company that does business with EU citizens.

In general, all compliance audits are likely to become more rigorous because of the surge in the number of remote workers, the conditions for potential growth in fraud cases and unpredictable revenue growth. Keeping up with these changes can be daunting. However, it’s much easier to comply if you’ve built a flexible foundation that easily adjusts to new regulatory requirements. Cloud document management can be a significant contributor to the success of your compliance efforts. If it’s not part of your compliance plan today, there are many reasons why it should be.

The use of cloud technology will continue to be important next year and beyond. It will have a larger role primarily due to the rise in remote work, the need for increased business agility, and the reduced costs associated with cloud solutions. 

A quick recap of how DocuWare Cloud supports compliance

1. Electronic signatures

E-Signatures signatures reduce paper use and simplify your secure document workflow. The federal Electronic Signatures in Global and National Commerce Act (ESIGN) and the state Uniform Electronic Transactions Act (UETA) give legal recognition to qualified electronic signatures, like those provided by DocuWare, that use verification technology to ensure signatures are authentic and secure. In the European Union, the European regulation on electronic identification and trust services for electronic transactions (eIDAS), confirms the legal validity of verified electronic signatures corresponds to that of a handwritten one.

2. Assignment of roles and responsibilities

The solution can assign privileges, such as viewing, editing, printing, and downloading to specific employees or job roles. Staff members are allowed to access certain documents via a unique username or password. This authentication creates an audit trail that records who accessed a document, when they accessed it, and what action they took. This restricts unauthorized activity, and redaction enables further protection of personal data.

3. Fraud prevention

DocuWare Cloud ensures the maintenance of document integrity with features that include version control and a robust audit trail that enables you to detect and prevent fraud. Notification of violations of security protocols through activity reports provide a further level of protection.

4. Audit preparation

With DocuWare Cloud, your company is better prepared for an audit, allowing you to respond quickly to auditor requests and maintain greater control over your business information. Transaction processing workflows collect, modify, analyze, and store compliance data and create reports that prove data accuracy.

5. Legal issues

Federal Rules of Civil Procedure require that electronically stored information is never changed into a hard copy format. Software that supports eDiscovery can help ensure that documents are archived in a legally compliant manner. It plays a central role in enabling companies to find the right information in a large database. This information may be needed during internal investigations or by their compliance and legal teams if they are preparing for litigation.

6. Disaster recovery

Natural disasters or other crises can happen anywhere, anytime. That is why having off-site copies of data is essential. Ensure your business continuity with redundant data backups, thanks to which all of your documents and information can be made available again in no time.

7. Protection against cyberthreats Hacker in hoodie at computer cropped

In addition to its built-in security, DocuWare Cloud provides top-level protection against criminal extortion software like ransomware and other malware. With Microsoft Azure as its foundation, 99 percent of all viruses are already known, which is why a contaminated document is immediately recognized as such and can't even be archived. Even a completely new virus, will not spread to other documents, because the malware has no access to the corresponding data store.

DocuWare Cloud makes it simple to achieve compliance for all document-based processes. If you want to know more request a demo.

DocuWare – Document Management Software And Workflow Automation

Ricoh now offers DocuWare – document management and workflow automation solutions, which have been around since 1988. DocuWare solution allows businesses to digitize documents, manage and work with business data with international security standards in the cloud, at corporate servers or a combination of both. From there, businesses can simplify your existing workflows quickly, focus on your core business and increase competition in the market.

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