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...

In the old days, we used to tape down receipts from our travels and submit them to accounts payable. But that was before remote employees who may live in a different city from the home office. And of course, there's all...
In 2011, electrical services and technology provider Parsons Electric in Minneapolis, Minn., decided to take its accounting to the cloud. Monica Ross, the company's director of strategic projects, talked with AWEB about...
Event Date: July 24, 2014, 2 pm ET In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the...

Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.