The Sarbanes-Oxley (SOX) Act of 2002 legislates how long and the manner in which companies store their financial records. Created largely in response to the Enron and WorldCom scandals, SOX is designed to safeguard against accounting errors and other illegal financial activities. SOX specifically states that electronic records and messages (email/IM) must be saved for at least five years to ensure that auditors and other regulators can easily obtain requested documents.
Contract Guardian Healthcare Contract Management Solutions help organizations address these SOX rules without the need for additional equipment or services such as tape libraries, media and off-site media storage.
Storing financial records with Contract Guardian gives organizations the confidence in knowing that critical data is secure, yet quickly accessible. Electronically transporting records using industry-standard encryption to off-site secure locations where the data remains encrypted minimizes the chance of any unethical access or destruction of contract related data.
Contract Guardian Contract Management Services help publicly traded businesses and companies (accounting firms) who conduct audits adhere to SOX.
"Contract Guardian gives organizations confidence that their contract management information is securely stored for as long as necessary, yet quickly accessible when needed."