What You Need to Know About Sarbanes-Oxley Compliant Messaging
Sarbanes-Oxley compliant messaging is a communication imperative for many businesses. In addition to creating new layers of accountability for boards, executives and accounting firms, the Sarbanes-Oxley Act transformed the way companies approach electronic communications, including the security of text messaging technologies.
Failure to comply with Sarbanes-Oxley can result in serious penalties -- up to 20 years in prison and $5 million in fines. But just as importantly, non-compliance with Sarbanes-Oxley messaging protocols increases your exposure to risks that compromise operations, damage brand reputation and jeopardize customer relationships.
Why Sarbanes-Oxley Compliant Messaging Matters
Since its passage in 2002, Sarbanes-Oxley (or SOX) has regulated both financial and non-financial practices in the U.S. When it comes to electronic communications, SOX introduced a new level of accountability to electronic "correspondence," including the use of text messaging solutions in enterprise business environments.
To comply with SOX requirements, corporations must:
- Keep a record of electronic communications for at least three years.
- Be able to quickly retrieve instant messaging records going back at least two years.
The implementation of an encrypted text messaging solution should be a high priority for all organizations. However, the need for Sarbanes-Oxley compliant messaging means that your organization must also be concerned about recordkeeping and other requirements.
Tips for Complying with Sarbanes-Oxley Messaging Requirements
Although it's possible to meet Sarbanes-Oxley compliant messaging requirements on your own, it's not advisable -- there is simply too much at stake to manage corporate messaging conducted on consumer-grade messaging platforms.
The most effective way to ensure full compliance with SOX electronic messaging requirements is by implementing a messaging solution designed for enterprise environments. The best enterprise messaging solutions offer a handful of essential features and capabilities, including:
- Strong Recordkeeping -- The recordkeeping requirements of Sarbanes-Oxley are significant, especially for organizations with hundreds or even thousands of users. Robust enterprise messaging platforms provide Sarbanes-Oxley compliant messaging storage and can be tailored to your organization's internal electronic communication policies.
- Encrypted Text Messaging -- Encrypted text messaging and enhanced security features protect messages and files during transmission, while additional features like centralized cloud storage ensure the availability and security of messages in compliance with Sarbanes-Oxley.
- Management Control -- Total compliance with SOX demands management control over your organization's messaging technology. Best-in-class enterprise secure messaging platforms allow managers to monitor messages, add/remove accounts and remotely wipe data, eliminating the threat of unauthorized access to the kinds of sensitive information Sarbanes-Oxley wants your organization to protect.
Sarbanes-Oxley Compliance with Netsfere
Netsfere is the leading provider of secure enterprise messaging solutions that comply with Sarbanes-Oxley requirements. We understand the challenges your business is up against, and provide the tools and features you need to ensure safe and efficient messaging across your organization.
To learn more about our Sarbanes-Oxley compliant messaging solutions, contact us today.