Protect Your Business Information – Prevent Document Deterioration, Misuse and Loss With EDM

Security concerns are in the news a lot lately. The government has issued public alerts against terrorist activity. Military experts are debating how to maximize armed forces’ safety amid intensified conflict in Afghanistan. Medical experts are producing vaccine to combat Swine Flu. Each issue focuses on the need to ensure public safety. Yet most businesses – including agencies that rely on timely, accurate information to make decisions about public safety – overlook a serious risk that jeopardizes their effectiveness and ability to survive. The threat? Inadequate document security.

Businesses need secure access to accurate information to make smart decisions. Usually information is scattered: on paper (subject to deterioration, misfiling, security breaches, and loss); trapped in the minds of executives, managers and workers (subject to unintentional alteration and selective memory); and stored in electronic documents and software applications (subject to inconsistent rules, conflicting policies, and difficult to lock down). A recent 2009 AIIM report entitled Electronic Records Management – Still Playing Catch-up with Paper shows 60% of managers surveyed couldn’t be confident their records hadn’t been altered, deleted, or inappropriately accessed if they were challenged. More than 70% had no provisions for long-term electronic record archival; 31% had twenty or more content repositories that could be usefully linked (and presumably weren’t, complicating access and security). Many respondents described their electronic records as unmanaged; most lacked email management policies. It doesn’t take an expert to uncover a foul brew of document security concerns. Ignoring document security invites trouble.

Set clear policies Document security has two sides: human and technological. Management has the onerous job of weighing rules and regulations against operational needs and determining acceptable risks versus those that jeopardize their business objectives. Identifying unacceptable risk is a precursor to creating governance policy.

Communicate policies frequently – in writing Rules are futile unless they’re communicated – frequently, understandably, and in writing. Understanding what constitutes risk, acceptable behavior, and the penalties for disobedience dramatically reduces employee blunders. Convey your rules and reasoning clearly. Document your communications. You’ll reduce company risk by demonstrating intent to comply.

Well-laid plans, smart hiring decisions, and regular communications minimize risk, but they don’t guarantee document security. Where 100% document control is hindered by human limitations, web-based electronic document management (EDM) excels – governing, observing, and tracking file use, 24/7.

Emulate policies electronically Everyone hears about planned security breaches. Yet typically, compromised document security is unintentional:

People view sensitive information while searching for unrelated information. Employees inadvertently destroy original files without noticing copies or imported documents are faulty or illegible. New employees don’t know the rules and handle documents improperly. Temporarily removed or inappropriately stored documents can’t be located on demand for audits, subpoenas, or processing. Workers delete documents deemed worthless, learning afterward that retention rules changed or they were mistaken. EDM ensures security from the moment of capture, preserving file integrity throughout the business lifecycle and providing a central repository for stored information. Readability and integrity are verified upon capture. Digital storage eliminates deterioration, misfiling, or loss. Files are readable, properly stored, and secure. Customizable security determines who can retrieve, view, edit, annotate, manage, move, or delete files. Administrators can set rules for data use and walk away, knowing employees can access whatever they need.

Remove temptation and filing mistakes Companies are increasingly subject to strict regulations governing information use. EDM enforces your governance policies, letting you:

Restrict file access by creating pre-defined searches to retrieve files staff need. Restrict document viewing to specific personnel by job role and document type. Associate individual editing and annotation rights to pre-specified users and file types. Ensure only authorized persons can delete batches, files, and/or pages of documents. Assure consistent indexing Employee logic varies for document classification and search. EDM enables standardization, making filing consistent and search 100% successful.

Assign documents to batches during scanning or importing. Index documents by document type, customer ID number, and other unique identifiers. Associate related documents for a comprehensive view of information. Validate the integrity and accuracy of scanned and imported files through automated validation; request alerts when documents require intervention. Digital capture gives you control over your content.

Prevent document alteration Document alteration poses huge security risks, especially in the face of litigation and audits. ECM allays fears of inappropriately altered documents. You can:

Restrict document annotation and alteration rights to pre-designated persons. Ensure file alteration and editing rights reflect current policies. Store business-critical emails as unalterable documents. Avert inappropriate file deletion Missing and lost documents typically comprise 7.5% to 11% of all document requests, with workers spending anywhere from 20-50% of their time looking for information. MIA documents cost time and money to recreate; if they’re needed for an audit, subpoena, or industry mandate and not found, penalties can accrue.

EDM ensures documents aren’t deleted until they’re scheduled to be migrated or destroyed. By limiting user rights, you ensure against accidental and intentional purging. Automated retention assures document migration, purging, and deletion follow your rules. Regulatory changes? No problem: EDM grasps new instructions immediately, adhering to governance directives.

Adjust rules as hierarchies change Between a quarter and a third of employees change jobs or positions annually. Promoted employees suddenly need access to additional information. Demoted workers lose rights to access particular documents. Some are fired or leave, creating concerns they may take information with them, and new problems arise as knowledge must be transferred to new hires.

EDM tackles these issues with ease:

Users and feature rights are pre-designated electronically, making appropriate files accessible immediately to new employees. Administrators make documents instantly inaccessible to departing employees by deleting user rights and features, eliminating the risk of inappropriate file use. Rules and rights are easily reconfigured, ensuring new employees can access repositories and files they need without the risk of stumbling on sensitive information or overlooking policies for document access and use. Lock down email Email management eludes many managers. Critical communications about customers, partners, third-party vendors, staff, products plans, licensing information and more often are trapped in email Inboxes, inadequately archived and difficult to find.

By managing business email within EDM, you can:

Index and archive critical emails as documents of record. Restrict access to email content, while disclosing contents to authorized persons. Regulate printing, migration, and deletion of stored emails to specific users. Avoid disaster The topic of avoiding business disasters drew attention this year when the Association of Corporate Travel Executives (ACTE) recommended that companies limit how many executives can travel simultaneously on the same corporate or commercial plane. Experts recognized that a single calamity involving the loss of multiple top-tier executives constituted unacceptable risk, as it could destroy a company and result in considerable job loss. The same is true with the loss of your business-critical documents.

Document preservation is the left hand to the right hand of document security. Careful planning, quality EDM, and appropriate professional services ensure you have:

Effective backups and fault-tolerant, redundant systems that ensure you stay connected to your information. A disaster recovery plan that outlines the hierarchy of document importance to ensure business continuity and accelerate document recovery. Uninterrupted access to your business-critical information if a disaster prevents staff from working onsite. Physical data recovery in case a real disaster strikes or your system is shut down. Forge ahead If your company makes the headlines, don’t let it be because of a security breach or shutdown. Creating a document management strategy and investing in EDM means your past, present, and future documents will be in the right hands, whenever and wherever they’re needed. By leaving the arduous task of document management to EDM, you’ll have more time to focus on taking your business to the next level. Good luck!

Small Business Information

So you have had it with the 9 to 5, your sick of your boss always looking over your shoulder, and the idea of you doing all the work so the executives can reap all the benefits makes you sick to your stomach. So you have decided to go out on your own and start a new business. That is a great idea and I am here to help you with some of the tougher questions that may come to mind.

What’s next? Well you need to decide how you will structure your business for tax and liability purposes. If you do nothing, and start the business alone, you are considered a sole proprietor. If you do nothing and start the business with someone else, that business will be considered a partnership. You can also form a corporation or limited liability company (LLC). The last two options are a bit harder to set up, but the liability is passed on to the business and not yourself or your partners. You should seek the advice of an accounting expert before making this decision; once the decision is made it is difficult to change the company type and it’s an accounting nightmare.

Sole proprietorship and partnerships are taxed on your normal 1040. You figure out how much money the business brought in and how much was spent on the business. This is the number you add to your 1040. This option is very easy for taxes very easy to run. The main problem with sole proprietors and partnerships is you can become personally responsible for all debt and damages. For example, if you run into credit problems with your suppliers they can come after you and your partners for payment. Also, any damage that your company may cause and is unable to make restitution for could become your personal financial obligation. This includes liens on personal property.

To distance yourself from personal liability you need to form a corporation (INC, C, or Corp) or a limited liability company (LLC). Both of these allow the business to become a separate entity for tax purposes and liability. The downside to these types of businesses is the extra paperwork needed to stay compliant and start up costs. You can search the internet for companies that will form your corporation or LLC, but you need to make sure they are reputable and not online scams.

If you start a corporation or LLC you will need a tax expert that specializes in small business and good accounting software. The government will send you an Employer Identification Number. This is the company’s unique id number, think of it like your social security number. This number needs to be used on all documents pertaining to the company, as well as all tax forms.

All parts of the business must to be kept separate from your personal life. You need different bank accounts, different phone numbers, and different credit cards. Next to making a profit this will be your biggest and most important challenge. If you mix funds or you are sloppy with book keeping, the corporate veil can be pierced and that means you can become personally liable for the company and its actions.

I recommend a good CPA and a lawyer. These can be found online within your area and are well worth the upfront money. After you are set up it is possible to do all the taxes and accounting yourself with powerful accounting software, but this is time consuming and may not be worth it to some. Remember starting a new business can be fun and rewarding; just stick to the rules and laws.

Work at Home Business Information and Resources

Want to work at home? Doesn’t everyone? Being your own boss has become a realized dream for millions of stay-at-home moms and dads, accountants, architects, contractors, pet sitters, and so many others.

Workers in many walks of life have taken the further step of starting their own businesses, and operating out of their own homes. Getting rid of the 9-to-5 job is great, but then what? Where do you start?

What product or service can you sell? How do you make contacts when you work at home? For your desk, chair and organizers. First, you have to figure out what you want to do with your computer and who will use it. Second, determine where you want your computer to live and how much space you’ll allocate to this activity.

There are many resources today–books, websites, and organizations–that provide information and assistance for startup businesses. You will be joining millions of others who enjoy the freedom to make their own work arrangements.

Your workplace may now consist of the room your computer is in. Your dress is, to say the least, casual, and your hours are whatever you choose. Some companies do the legwork so you can devote more quality time to your work at home.

Lead generation companies may charge a setup fee, perhaps from $50 to $200 a year, and charge about $5 to $25 per lead. This charge is dependent on how difficult it is to get the lead.

Taking a course in selling and marketing online or from a local community college may help you to close the sales that are generated by leads when you work at home.

Protect Your Business Information

Protect your information and your business

It is not uncommon to encounter media accounts of a data breach or loss. The consequences are usually severe, including monetary loss and loss of confidence in the organization. In fact, a study completed by Symantec in 2006 determined that 60% of organizations that lose their data shut down within six months of the loss. You don’t want to find yourself in this number, but where can you begin to make a difference?

What information do you have?

In order to effectively and efficiently manage information, it is necessary to first confirm what information assets the organization has and also to identify people in the organization that “own” the information. The owner of the information is responsible to determine who can access information and how it will be used.

What types of data do you have?

After information assets are identified, they should be classified according to their sensitivity relative to unauthorized disclosure. For example, there may be legal or regulatory requirements that specify that certain information must be protected. There may be industry guidelines that address information protection, for example the Payment Card Industry Data Security Standard that outlines requirements to protect credit card data. When classifying information, it helps to consider information in broad categories, for example, corporate intellectual property, human resource information, financial information, information to access systems and records (user-ids and passwords) and information that could typically be found in the public domain.

It is important not to develop too many classifications of information because such a scenario will likely become unmanageable. Quite often, three classifications are often sufficient. For example, information that should only be shared amongst management may be classified as restricted. Information that is less sensitive, but should not leave the organization may be classified as confidential. Information that typically exists in the public domain may be classified as non-sensitive.

Getting started?

  1. Make a list of the information: who is responsible for it? Who should have access to it?
  2. Determine the different categories of information: remember, probably no more than 3 categories should be enough.