Last week I wrote about
a study that found compliance initiatives are distracting CFOs from growing their companies and expanding shareholder value.
This week, Tony Byrne of
CMS Watch has a pair of links about electronic records management (ERM) and how all of this time and money spent on compliance projects isn't rubbing off on ERM.
Colman Murphy of Xerox
writes in Line56:
Amidst all this spending, funding for electronic records management (ERM) initiatives has lagged. Even when funding is committed, there are still significant hurdles to overcome that can sometimes cause the entire project to grind to a halt.
Among the hurdles Murphy mentions are unforeseen costs, slow adoption, and the lack of a champion within the organization.
Writing in CMS Watch, Priscilla Emery tries to sort through
the perplexity of ERM certifications and how they relate (or don't relate) to compliance. Enterprises that need to store their records according to a standard such as DoD 5015.2 have it pretty straight forward; not so when it comes to Sarbanes-Oxley.
Just about every vendor will tout its ability to support everything from Sarbanes-Oxley to HIPAA regulations. However, there are no certification specifications or procedures for any of these compliance activities at this point.
Sarbanes-Oxley isn't a records management issue. Or maybe more accurately, it isn't
just a records management issue.
...although records management can play a significant role in Sarbanes-Oxley compliance most of this activity is associated with financial reporting and monitoring financial processes making workflow activities and process monitoring more important features to focus on than just records retention.
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