The hyper fast speed of the global economy means there’s rarely a time for resting on your laurels. Next year is almost here and with it comes new, modified or expunged compliance regulations. Microsoft’s SharePoint gives you the tools you need to bring and keep your organization current with evolving national and international compliances.
Doing Business Globally and Locally
Perhaps the biggest challenge for any company these days is the requirement to comply with rules and regulations emanating from a diverse set of standards groups, industries, and countries. The implementation in Europe this year of the General Data Protection Regulation (GDPR) affected every business on the planet that does business online. Next year promises similar regulatory changes as nations work to strengthen their economies and protect their citizens from inappropriate or nefarious activities.
Despite the lack of a clear strategy, Britain is slated to exit the European Union on March 29, 2019, and its departure will create a wave of changes in regulations in the United Kingdom as well as all the countries that do business with its industries and citizens. Financial market regulations will almost certainly flex in response to the sea-change in Europe’s political map.
In America, the 2017 Tax Cuts and Jobs Act will significantly alter the 2019 U.S. tax season to reflect the sweeping changes that law made to the national tax code. The changes affect both individual workers and corporations of all sizes and will require significant changes in how companies comply with both federal and state tax laws.
Also in America, the Department of Labor announced an amendment to how employers calculate their worker’s “regular rate of pay,” with implementation anticipated for later in 2019. The new rule would affect how employers calculate deductions, bonuses, health care premium payments and other compensation factors.
Any company that does business online may be required to comply with any or all of the global regulatory changes currently on the horizon. Those that do their business using Microsoft’s SharePoint programming already have a leg up on the process.
Comprehensive Compliance Services
The SharePoint compliance software offers tools and services to ensure full compliance capacities at any level:
Covering All Bases
SharePoint’s capacity to address all compliance concerns is unmatched. The rules that require entities to manage their vast quantities of data safely cover all aspects of the computing function: audits of active and archived systems; detection of intrusions or inappropriate activities; encrypting data at rest and in transition, and secure data preservation and deletion, to name just a few. SharePoint comprehensively manages all aspects to ensure comprehensive security across all corporate sectors.
Compliance Within Projects
From a narrower perspective, SharePoint’s enterprise content management software ensures that project users comply with the rules related to that work. SharePoint delivers relevant policies to sites, content, and mailboxes, keeping project participants on task and in line with those project compliance goals.
Compliance Across Training
SharePoint also incorporates compliance training into its programming, guaranteeing that every worker has the same fundamental understanding of how to become and remain compliant with all relevant regulations. The software integrates with human activities by maintaining parameters around their activities:
- By integrating only with Active Directories, SharePoint limits access only to authorized accounts;
- Digital barriers prevent unauthorized users from accessing those areas where records are created or maintained;
- System administration is also sequestered to specific, authorized personnel who have permissions for access, and
- SharePoint prevents inadvertent or intentional erasures and facilitates accurate data retrieval when needed.
The SharePoint professionals at Datavail maintain a vigilant eye over the changing global and local regulatory landscape to ensure their SharePoint customers are compliant with every relevant rule. If your enterprise needs to modify its programming to become compliant with incoming rule changes, Datavail’s IT experts can help you attain and retain that goal.
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SharePoint can store a large amount of information, if employees can’t find the documents they need quickly, usage of the system will decrease quickly.