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Compliance

While compliance is not an option, how you handle all the documents that are required by these regulations is an option. According to the Security Industry Association Report on Management and Professional Earnings in 2000, Table 051, and adding an additional 35% to account for overhead costs, the hourly cost of a compliance manager is approximately $101.25. Handling each request for information can take two hours for a cost of over $200 each.

To learn more about being compliant you may want to read about the basics of document imaging and the Laserfiche overview. You can also download a document imaging brochure in PDF format from Laserfiche to get the big picture of how document imaging works.

You can also find specific information on how Laserfiche can help your industry stay in compliance with federal regulations by visiting these web pages: Small & Medium Business, Large Enterprise, and Government.

You can download these additional PDF documents from Laserfiche to give you more specific information on how document imaging can boost your company's productivity, save you money in the long-run and help you meet compliance requirements:

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Important Laws Regarding Compliance

If more in-depth information is necessary to keep your business in compliance these web sites are available for review.

Health Insurance Portability and Accountability Act HIPAA
The rule sets standards for privacy of individually identifiable health information.

Sarbanes-Oxley Act
Set up a public accounting board and set mandatory compliance for corporate accounting standards.
Gramm-Leach-Bliley Act
The Gramm-Leach-Bliley Act, protects consumers personal records of consumers held by financial institutions.
FDIC
The Federal Deposit Insurance Corporation regulates and examines banks to protect consumers.
SEC Rule 17a-4
This rule states that broker-dealers must preserve all electronic records exclusively in a non-rewritable, non-erasable format.

With existing and new regulatory legislation, businesses such as those in the financial, healthcare, and legal industries plus and the government have to face that fact that using document imaging is not a nice-to-have - it is a MUST-have to maintain compliancy.

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