Compliance and data protection must be priorities of any business. Once your company collects customers’ data, that data must be secured and used appropriately. When customer data isn’t adequately protected, data breaches, ransomware attacks, and hefty fines can be the result. Noncompliance can be a risk at every business: Meta has recently been fined $1.3 billion for violating the European Union’s General Data Protection
Regulation (GDPR) by transferring European users’ data to the United States. Although the United States and the European Union may strike a deal relaxing certain sections of the GDPR, this situation should serve as a warning to ensure your company’s data protection strategies remain in compliance with all relevant regulations.
M-Files Makes Compliance Easy
Remaining compliant with data protection laws is easier said than done. Any business that relies on paper documents or manual processes like emailing contracts back and forth will struggle to verify their data is being protected in the correct ways. Thankfully, a modern document management system like M-Files can make remaining compliant as easy as possible. M-Files can help you remain compliant not only with the GDPR, but also these regulations:
- FDA 21 CFR part 11
- EudraLex Vol 4 Annex 11
- FIPS 140-2 Level 2
M-Files can be customized to your company’s specific needs, including which data protection regulations you must follow.
Reasons to Use M-Files to Ensure Compliance
The automation capabilities and security features of M-Files mean your company can remain compliant with these regulations with ease. Here are some of the most important features of the software that can ensure compliance:
- Role-based permissions: With role-based permissions, you can specify which user or group of users can access a particular document according to their roles within the company. Permissions will change automatically when employees leave or change roles, minimizing the chance of a data leak.
- Gated access: Document access permissions can also be restricted based on the status of the document. You can control who has access to a document at different process stages.
- Version tracking: With automatic version tracking as well as one authoritative version of the file, M-Files allows you to ensure that your documentation is up to date, but also keep meticulous records for audits or other purposes.
- Dark data scanning: M-Files takes security seriously. Through dark data scanning, you can keep risks under control through discovery and tagging throughout all repositories and storage systems.
- Artificial intelligence: AI and automation built into M-Files make streamlined workflows simple and provide unparalleled visibility into your documents. For example, documents are automatically tagged with metadata, so you can easily classify documents and see which need extra protection.
- Audit trail views: When your company is audited, document version control and editing history as well as an intuitive search function allow you to easily demonstrate compliance.
- Master record tagging: Through master record tagging, you can keep documents organized by client, project, or other engagement. Never lose an important document again!
- Automated data retention: An important part of many data protection regulations is data retention and destruction guidelines. With M-Files, you can automatically implement these policies across storage platforms, teams, and even individual users.
Ready to Get Started with M-Files?
With M-Files, you’ll gain an intelligent, metadata-driven document management system as well as document security and automated compliance processes. You’ll avoid major business risks and give your customers peace of mind. Read how one of our customers ensured compliance through M-Files.
Are you ready to minimize compliance and audit stress? The expert consultants at Laminin can show you how. Contact us today to schedule your consultation.