Document Regulatory Compliance. Securing Sensitive Information

Previously, businesses used to share confidential information such as board meeting strategies with external parties through paper documents or email with little regard for security. However, the responsibility for security breaches was often placed on the recipients, and companies absolved themselves of any liability. In contrast, regulatory bodies now hold companies accountable for safeguarding confidential information, and auditors recommend that Boards of Management adopt a vigilant approach to information protection. Various laws, including Sarbanes-Oxley (SOX), the Gramm-Leach-Bliley Act (GLBA), the Health Insurance Portability and Accountability Act (HIPAA), and NIST SP 800-171, are in place to ensure the protection of sensitive information. It is essential for businesses to recognize the importance of securing confidential information and comply with relevant regulations to avoid liability.

Our document security feature enables you to limit access to information to only authorized individuals and provides proof that the information has not been accessed or used by anyone else. This allows you to demonstrate the reliability and security of your business processes, which is more effective than relying solely on encryption. With encryption, once the information is decrypted, users can easily distribute it to others.

Through our document security and controls, you can provide evidence of which individuals registered to access certain information and those who did not, regardless of their authorization. Additionally, you have the ability to demonstrate when particular documents were accessed, as well as the location where they were accessed from, if necessary. Furthermore, any document printing activity can be monitored and recorded.

In certain situations, there is a legal obligation to retain information for a specified duration, often 1 or 2 years, and after this time has elapsed, the information may be disposed of. However, it is crucial to ensure that the information is destroyed at the appropriate time and cannot be retrieved from backups or personal copies. With HelpRange document DRM, you can establish an end date for each document, guaranteeing that after this date, the document will be inaccessible and effectively destroyed. For more information on this topic, please refer to document retention guidelines.

As part of the legal process, known as discovery, or when providing documents to your own advisers, you may need to grant access to privileged documents to lawyers or other investigators. It is important to ensure that only authorized documents are used and to track which parties have accessed them. This approach effectively prevents others from conducting "fishing trips" through your information and complies with the NIST SP 800-171 regulations regarding controlled access to information. Additionally, by setting an expiry date for information, you can promptly revoke access when necessary.

HelpRange is "Next-Gen Data Room For Documents Protection & Analytics". HelpRange is a cutting-edge virtual data room platform for document access controls and in-depth analytics, ensuring superior management and usage insights for your documents.