StorLife
Organisations in all industries are operating in an increasingly complex regulatory environment. It can be difficult to trace original paper documents and organisations must know where each document is and how long it should be kept for. Sarbanes-Oxley, Basel II, Freedom of Information, and various Data Protection Acts require structured approaches to enforce and prove compliance.
SoftCo’s compliance platform provides a comprehensive set of components and “best-of-breed” processes that ensure adherence to regulations and policies, and also the visibility of current compliance status. Converting paper documents to electronic format facilitates the process of producing a fully automated and accurate audit trail, detailing who has accessed the information and for what purpose.
SoftCo’s compliance framework is used extensively for regulatory requirements and standards across the financial and healthcare industries. All SoftCo’s solutions incorporate efficient document tracking, indexing rules, secure storage, fast retrieval of documents, retention policies and full Lifecycle Management.
Key Benefits:
- Secure, scalable, resilient CAS storage
- Hardware-independent solution
- High volume retrieval engine
- Manages retention policies
- Meets audit and compliance obligations
Key Features:
- Business Process Automation control and monitoring
- Email archival and retrieval
- Secure, compliant archiving of paper and electronic documents
- Adherence to regulatory requirements
- Instant document access and full reporting in line with governance guidelines
- Comprehensive lifecycle policy management
- Full document retention requirements
- Detailed audit trails of all compliance activities
- Digital shredding based on US Department of Defense (DOD 5220.22M) standards
- Built-in flexibility to handle process changes and updates in regulation
- Secure Web browser-based interface
- Consolidates and standardises the range of enterprise compliance and governance components into a comprehensive framework
Regulatory Compliance in Action
SoftCo's customers consistently face general regulatory compliance stipulations. SoftCo has assisted a number of clients in addressing those specific corporate requirements by leveraging the SoftCo R8 infrastructure.
Document Retention
In Finance and Human Resources environments, regulations require documents to be retained for a specific number of years. SoftCo addresses set retention policies in large organisations including Logica, HSE and HBOS.
Freedom of Information
The introduction of the Freedom of Information Act has imposed an obligation for transparency and accessibility. SoftCo has worked with local government bodies to provide the infrastructure to facilitate secure public access to documentation.
Mandatory Reporting
Regulatory bodies require mandatory reporting and auditing to central and regional government bodies. SoftCo facilitated St. Peters University Hospital in New Jersey to adhere to state auditing requirements, reducing processing time and improving accuracy ratios.
Regulation Bodies
SoftCo has assisted the regulators to regulate. The introduction of prescription drugs to market is a highly regulated process that requires a high degree of ownership, transparency and visibility. SoftCo assists The Irish Medicines Board to automate, track and report their business processes via the SoftCo Workflow environment.
Know Your Client and Retention Policies
Financial organisations must ensure that lifecycle information in relation to their Clients is maintained and audited, and that standards are adhered to. This is known as Know Your Client (KYC). SoftCo has worked with financial institutions, including AIB and HBOS, to deliver the process management environment to assist document capture, secure storage and lifecycle automation.