Companies Face Daunting Task of Managing E-mail

Many of the demands that Sarbanes-Oxley compliance has placed on accounting firms have developed into commercial opportunities for other industries. One of those is software providers, particularly when it comes to the SOX requirement to save electronic communications.


Advertisement


All Aboard the High-Velocity 2006 FRx Express! FRx Software has the engine fired up again to travel nationwide with timely training and expert guidance! Microsoft FRx and Microsoft Forecaster users, potential users and resellers don’t miss this FREE*, half-day event!

Once you’re on board, the FRx Software experts will help you gain tremendous insight into Microsoft FRx and Microsoft Forecaster. You’ll have the opportunity to hear customer perspectives and network with prospects plus pack in useful tips, and see the features and benefits of FRx Software’s financial analytic applications. Register now!


FRx Software Home Product Information
Training & Consulting Product Demo
Webcast Customer Testimonial Video



A host of software companies are marketing active e-mail archiving products which enable firms not only to save e-mails but also to keep them on hand for timely retrieval as described by the law.

As compliance deadlines near, best practices are starting to emerge, writes Mike Gundling in Sarbanes-Oxley Compliance Journal. “Since e-mail has become the de facto method of business communication and the most critical source of information for almost every large business, the management of e-mail is a fundamental element of SOX compliance,” writes Gundling, vice president of product management for iLumin Software Services, Inc.

Many software companies have published market survey results that suggest the accounting industry is overwhelmed with the requirement to store e-mail. Gundling said many firms use backup software and store daily e-mails on magnetic tape to comply with SOX. However, Gundling and other software vendors point out that this method amounts to backup, not archiving. The difference is, active archiving allows quick searches and retrieval and overall e-mail management.

Prior to Sarbanes-Oxley, software companies paved ground in this area after the Securities and Exchange Commission required financial institutions to retain e-mail exchanges.

Before putting an active archiving system in place, a firm should adopt an information management policy, Gundling writes. More than 30 percent of 500 companies in a survey sample lacked “comprehensive, enforceable” policies on e-mail use, according to the results of a poll by Sendmail Inc. and Osterman Research.

This applies not only to SOX compliance, but security, where a host of new software products have emerged for the financial services industry, according to the Business Times of San Francisco. These include Workshare Inc., a rival of Adobe Systems, which is experiencing explosive growth due to demand for e-mail security. This company offers a solution that alerts employees they are about to send classified or otherwise sensitive information.

You may like these other stories...

Event Date: May 29, 2014 In this presentation Excel expert David Ringstrom, CPA brings you up to speed on the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both...
No field likes its buzzwords more than technology, and one of today's leading terms is "the cloud." But it's not just a matter of knowing what's fashionable. Accounting professionals who know how to use...
There is a growing trend of accountants moving away from traditional compliance work to more advisory work. Client demand is there, but it is up to the accountants to capitalize on that. What should accountants' roles be...

Upcoming CPE Webinars

Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.