document management regulations ii payment processing
DESCRIPTION
Document management regulationsTRANSCRIPT
Document Management Part II: Payment Processing
The Relevancy of Document Management Industry Standards and
Payment Processing for SMI
Overview
Recap of DM Terminologies and Regulations Forces Shaping DM for the Payment
Processing Community OCSE’s EDM Guideline Overview Compliance / Regulatory Mandates Banking Industry Changes
Qualifications for EDM Vendors Features of EDM Systems Future Outlook
Terminology Recapfrom the Perspective of the DM Industry
Enterprise Content Management (ECM) System
Document Management (DM) – Workflows and versioning
Electronic Records Management (ERM) System – lifecycle policies applied to specific documents
Imaging System – Scanning & Data Capture
Regulatory Recap from the Perspective of the DM Industry
Regulation Applicability What Could be done for ComplianceSOX Possibly applicable for ECM or in general, due to
government contracts. Always applicable during litigation. In the general document management world, SOX and e-Discovery are prime influences.
SAS 70 may already cover. CMMI with an accounting focus may be another course of action.
e-Discovery rules YES for ECM and could be for any record. Many public companies use this as their motivating factor for a full ECM product.
For a start: Develop automatic email retention policies
SAS 70 YES. We actively use this to provide transparency and builds trust with its customers by having controls and operations independently verified by an unbiased third party…. Probably will cover for SOX?
N/A
ISO 15489 Possibly applicable for document management, due to requirements of state agencies.In the federal government doc mgmt world, 15498 and 5015.2 are prime influences.
For a start: Develop standardized processes covering wide areas of document management such as document lifecycle stages of creation, use, and deposition.
5015.2 Possibly applicable for document management, due to requirements of state agencies
For a start: Define what would be considered a record and develop standardized procedures around:1.Sustainable document formats 2.Data archive 3.Document Imaging4.Audit Trail5.Scheduling of data (temp/perm)6.Transfer media/medium7.Lifecycle
Forces Shaping DM with Payment Processing
(Now called EDM)
Office of Child Support Enforcement’s Guide for Electronic Document Management (EDM)
Compliance Mandates (Govt Regulations) Banking Industry Changes EDM Industry Standards
OSCE Guide for Electronic Document Management
General EDM guidelines to enhance automation in State Child Support Enforcement systems
Re-enforced our Standard DocMan\SMART functions Scanning Indexing Data Capture/Forms Processing Formatting Standards of “Sustainable Document Formats” Kofax Virtual Rescan™ is specifically mentioned for Quality Control Security: VPN, HTTPS
Additional Emphasis on: Records Management Lifecycle Policies Visible Project Management Standards Established Oversight Committee Cost-Benefit Analysis Performed Make-or-Buy Analysis Performed Digital Signatures
Compliance Mandates State Regulations The Child Support Performance and Incentive Act of 1998 Government Paperwork Elimination Act Paperwork Reduction Act of 1995 Government Performance and Results Act Presidential Decision Directive 63 Electronic Freedom of Information Act National Archives and Records Administration (NARA)
ISO 15489 Records Management DoD 5015.2
In General, OCSE recommends increased utilization of technology in relation to ECM to decrease “waste and inefficiency.”
Banking Industry Changes
Reduction of Paper Processing Convergence of Payment Processing
and Document Management
DM Industry StandardEmerging Components as Identified by AIIM™
Top Qualifications for EDM within Payment Processing
Certifications PMI certifications CDIA+ certifications Possible AIIM certifications Possible 5015.2
Enforcing Make-or-Buy Analysis Decisions Passing Cost-Benefit Analysis EDM + PP Convergence Experience Established Oversight Committee Communication
Processes
Design Features for EDM within Payment Processing
Standard DM Features Scanning Data Capture / Forms Processing Workflow Integrated Business Continuity
Additional Features Standards-based /Open Architecture design Electronic Records Management (ERM) with Lifecycle
policy enforcement PKI Infrastructure (Digital Signatures, Certificates) Redaction for the declassification of confidential data Possible Process\Workflow Improvement Capability
(BPM)
Future Outlook
The Convergence of Payment Processing & Electronic Document Management for Child Support Enforcement and the Payment Processing industry as a whole.
References
AIIM: ECM at Workhttp://www.aiim.org/viewpdfa.asp?ID=29914 AIIM Executive Forum Program Agenda
http://www.eventuring.org/eShip/appmanager/eVenturing/eVenturingDesktop?_nfpb=true&_pageLabel=eShip_articleDetail&_nfls=false&id=Entrepreneurship/Resource/Resource_521.htm
NARA’s Strategic Directions for Federal Records Management.http://www.archives.gov/records-mgmt/initiatives/strategic-directions.html
OCSE: Automated Systems for Child Support Enforcement: A Guide for Electronic Document Managementhttp://mteam/Presentations/OCSE%20Guide%20for%20EDM.pdf
TAWPI : Payments automaton 2007; Beyond Capture and Clearing conferencehttp://www.tawpi.org/PaymentsAutomation2007.html