How is Going PaperLess helping CFO’s to be GDPR compliant?

Click here to find out more about this Sage Developer's SolutionOn 25 May 2018, the EU General Data Protection Regulation (GDPR) came into force, reflecting the importance of data protection in our increasingly digital world. In order to comply with the new regulation companies are changing the way data is processed and documents are managed.

For CFO’s, Accountants and many other finance professionals working within accounts departments that had already decided to go PaperLess, becoming GDPR compliant is easier, because they are in control of the personal data they hold and already have the necessary safety guards in place to ensure that documents are kept organized and secure.

Companies that have gone PaperLess have drastically reduced the need to print documents, therefore they reduced the risk of personal data on “paper” being misused and ensured that only those authorised to look at documents are able to do so. Alternatively, the document would be printed and manually moved around or emailed leaving a trail of personal data all over the place.

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In order to comply with the new legislation, companies are relying on document management technology to keep track of the data they process ensuring that it is kept safe and that is only accessed by authorized personnel. While doing so they are also implementing automation processes that allow them to reduce time spent on manual data input and keep the information organized and easily accessible to users with the necessary access levels.

How can PaperLess help you increase GDPR compliance levels…

  • ENHANCED SECURITY GDPR

In order to help you to become compliant with the new GDPR legislation, PaperLess Document Management gives users an option that will make mandatory for all users to define a password that follow the industry best practices.

By having the enhanced security mode activated you are increasing the security of all data stored within PaperLess. This means that documents can only be accessed by users to whom you have given login credentials, allowing you to keep safe all personal data stored and, at the same time, to know exactly who has access to that data, which are some of the prerequisites to be GDPR compliant.

  • PAPERLESS SECURE MODE

PaperLess also has available the Secure Mode to “lock down” who can access documents on file level so that you are sure all data is kept safe at all times. By activating this Mode you are increasing the security levels of all data stored by your company within PaperLess.

  • REDUCE THE RISK OF HAVING PERSONAL DATA MISUSED

One of the challenges many companies are facing has to do with the fact that they have thousands of paper documents that can have personal data and it is virtual impossible for them to restrict access to this data. Companies using PaperLess Document Management software have already drastically reduced the need to print documents, therefore reducing the risk of personal data on “paper” being misused and ensuring that only those authorised to look at documents are able to do so.

  • KEEPING DOCUMENTS SECURED EVEN DURING THE APPROVAL PROCESS

By processing all documents in a digital manner, you are also ensuring that when you send documents for approval only those involved in “the flow” are aware and have access to the process. This is another way in which PaperLess helps you to become GDPR compliant, since even when documents are sent for approval you still keep the data safe and only accessible by the users involved in the approval process.

  • FULL CONTROL OVER DATA ACCESS

PaperLess can also help you to become GDPR compliant even for non-accounting documents. With PaperLess Other Documents you can easily categorise documents and folders, defining who can or cannot see them. If you want to have an overview of what users have access to the different folders, all you need to do is to take a report “List of access control of Other documents archive”

  • YES, YOU ARE IN CONTROL OF YOUR DATA…

The document is held centrally by PaperLess on your server, meaning that any personal data contained in the document never moves. The fact of PaperLess storing all data on the customer’s own server removes the risks of online storage, location and related access issues.

As long as you have the necessary security measures in place, this means that you can inform your clients that their data is kept safe with you and that no 3rd parties have access to it.

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Ask now for your free online demo and in 20 minutes you will find out how PaperLess software allows companies to effectively archive and link all documentation directly to their accounting transactions. See also how Automatic Invoice Recognition associated with powerful workflow features automates the entire process from the moment documents are receive until they are posted into your accounting package.

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