- every time

In 2001 the US based energy company Enron went bankrupt and became the Enron scandal, the fist in a row of corporate scandals involving accounting fraud, and document destruction. 

This led to new US legislation called Sarbanes-Oxley, or SOX. SOX and the later European legislation (sometimes called EuroSOX) impose a lot of new documentation requirements on publicly listed companies, in order to avoid future scandals in this area.

An article by KPMG in the most recent 25/7 magazine explains the consequences and benefits of SOX and EuroSOX, also to companies that are not necessarily publicly listet.

A valid point from the article is that if you are a publicly listed company you definitely need a bulletproof electronic business archive with well defined structured business processes with tamper proof audit trail.

Another and equally valid point is that any professional business will benefit from this.

How we fit in

It is evident how moving from manual and paper based business processes will reduce your need of paper, and hence also reduce costs marginally. The benefit of the reduced cost is however only a fraction of the benefit you get from a complete, secure, and reliable electronic business archive, from where you can always access up-to-date information together with structured workflow  enforcing defined business processes. 

If you are a leasing company, it has tremendous value that all leasing agreements are processed correctly and kept secure. If you are a logistic company it is of tremendous value that all proof of delivery are kept secure. If you are a sub contractor to the automotive industry it is of tremendous value that all production certificates are correctly processed and kept secure. If you a construction company it is of tremendous value if all employee contracts and training certificates are processed correctly and kept secure. 

SOX or no SOX – an electronic business archive will save you time and money.

Norsk Stål

Norsk Stål (Norwegian Steel), the leading steel and metal distributor in Norway providing high quality products to the offshore, shipbuilding, building and construction, and mechanical industries, must distribute certificates together with each individual delivery.

In the tragic event that an oil rig collapses it is extremely important that you are able to trace the steel used all the way back to the metal melting plant, and pin pointing the exact production batch.

Keeping track of thousands of certificates and ensuring 100% accuracy in delivery and also later retrieval is an enormous task if handled manually.

Implementing an automated solution with scanning and automatic printing or e-mailing of certificates together with shipping documents, and supplemented with easy web access for later retrieval, has saved Norwegian Steel millions, and dramatically increased their customer service.

Read more about the Norsk Stål case here. 

A typical example on how getting peace of mind, also generates huge savings and better customer service.

Call today

Call your local Multi-Support office today, and learn how we can help you get your peace of mind.