Q. There are new FSA Regulations, does fax need to comply?
Tim Muckart, Sales Manager for Financial Services, ProcessFlows:
A. Yes……. But the great news is, it is fairly simple!
From the 9th of March 2009, the FSA rule on retaining Electronic Documents for at least 6 months came into place. Fax is regarded by the FSA as an electronic document. The exact type of fax transmission covered seems to vary from Business to Business, so the simplest thing to do is archive everything!
If Fax machines are removed and Multi Function Printers/Devices are fax enabled using a Server Based Fax Management system along with a simple method to retrieve the fax messages, you are covered.
Most large organisations will have all the required components….. they just need to be linked together!
The great thing about doing this is that companies get to further exploit technologies they have already invested in and they get to Kill Two Birds With One Stone…. as once fax machines are removed, a BIG SECURITY threat is removed.
Companies that have fax machines are leaving themselves wide open, anyone at anytime can go to a fax machine and send information that might be harmful to the organisation if it was to get into the wrong hands, once you relieve yourself of fax machines and use a server based fax solution, you know who sent what and when!