Learn what GDPR, SOC 2, and other security standards mean for your business documents

Data is a valuable asset to any organization, no matter its size. If access to good data is like money in the bank, then organizing that data with effective documentation is like building a solid investment portfolio. It’s a way to turn data into information that can help your business create value for years to come. Document compliance is one way to protect that value.

Your reports, memos, and presentations can be threatened by poor storage practices, inconsistent security measures, and malicious actors who know how to turn all of the above to their advantage. Here’s what you need to know about common document compliance measures and how they can help secure your valuable assets.

What is document compliance and what does it mean for security?

Document compliance refers to standards for the handling of documents, either physical or digital. These standards are typically laid out by individual organizations, industry groups, or governments to promote security, privacy, and interoperability. For the purposes of this article, we’ll focus on document standards created by industry groups and governments. Consult your internal knowledge management experts to stay up to date with company mandates for document compliance.

In many cases, the standards behind document compliance also apply to an organization’s overall information infrastructure. They establish minimum expectations for how documents and other pieces of data are created, stored, and transmitted. Here are some of the ways document compliance can help secure your business:

• They often require document encryption, which reduces the risk of accidental exposure or data breaches.
• They encourage industry-standard practices, which increase accountability for what is secured and when.
• They reduce potential exposure to threat actors, as well as fines or other penalties from governing bodies.

These are just a few of the best practices that are often part and parcel of document compliance.

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5 common security standards for document compliance

The document compliance requirements for any given business will depend on its industry and what kind of documents it works with. Make sure you consult with IT professionals and legal experts before you decide what types of document compliance your business needs to pursue. Here are five common examples that may come up:

GDPR

The General Data Protection Regulation (GDPR) enforces data privacy and security. The European Union put GDPR into effect in May 2018, but it doesn’t only affect European companies. Any organizations that “target or collect data related to people residing in the EU” must abide by GDPR or face penalties of up to tens of millions of euros.

For instance, if you have a website that documents information about its visitors, you’ll likely need to abide by GDPR regulations for any records of those visitors who come from the EU. Many companies elect to keep all their data storage and processing policies GDPR-compliant rather than maintain separate practices based on visitor origin.

HIPAA

The Health Insurance Portability and Accountability Act, or HIPAA, includes a wide-spanning set of regulations for companies that operate in or alongside the healthcare industry. The portions of HIPAA most relevant for document compliance include its definitions of protected health information (PHI) and rules for handling PHI.

Even if your business is not directly involved with providing healthcare, you may still need to ensure your documents are HIPAA-compliant. For instance, a company that handles billing for a doctor’s office would need to ensure that any information included on its invoices complies with HIPAA mandates.

ISO/IEC 27001

ISO/IEC 27001 (sometimes referred to without the “IEC”) is a standard that offers guidance for “establishing, implementing, maintaining, and continually improving an information security management system.” Its “CIA triad” of confidentiality, information integrity, and availability of data helps organizations improve their cybersecurity postures and reduce their exposure to risks.

Applying the CIA triad to document compliance will help reduce the likelihood of improper access while making your data more accessible to authorized users.

Did You Know?:Looking for more ways to future-proof your document handling? Read our industry briefs to find out how RICOH can help.

PCI DSS

The Payment Card Industry Data Security Standard is essential for compliance related to payment card processing. In other words, if you keep records that include payment card details related to clients or customers, PCI DSS will likely be an important factor in your document compliance strategy.

Adhering to PCI DSS requires several ongoing steps, including: assessing the location of cardholder data, repairing vulnerabilities or unnecessarily stored data, and reporting the details of your assessments and remediations to the financial institutions you work with. Staying on top of required reports for your financial partners is another important form of document compliance.

SOC 2

SOC 2 was developed by the Association of International Certified Professional Accountants, but it isn’t only intended for accountants. Instead, SOC 2 is a type of examination that reports on an organization’s controls for security, availability, integrity, and other key information handling factors. Passing a SOC 2 audit means your business meets one of the most common standards for service organizations that handle others’ information.

A SOC 2 audit encompasses much more than document compliance. Nonetheless, how you store and process documents and other forms of data is a key factor in the assessment. SOC 2 audits are carried out by third-party organizations, and just because you pass once doesn’t mean you’re done; organizations typically only accept SOC 2 reports rendered within the last 12 months.

Learn how to automate document compliance processes

Maintaining document compliance is an ongoing process, but it doesn’t have to drain your resources. Taking a modern approach to digital document management can help your organization automate key processes while adhering to strict standards for security and access. Read our Guide to Document Archiving Solutions: Integrating Compliance, Automation, and Data Governance to learn more.

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