In the previous installment of our six-part series on why eFax Corporate is a game changer across all industries, we talked about the importance of keeping sensitive information safe and secure – focusing primarily on the healthcare sector and its highly coveted patient information by malicious actors as an example.
If cyber threats weren’t enough to contend with, today’s regulatory landscape is more challenging than ever, with increased scrutiny by regulators, less time for companies to react, and stricter enforcement actions for violations. Take the example of the Securities Exchange Commission (SEC) who in 2018 hit Yahoo! with a $35 million fine for failing to report a cyber-breach they had known about for two years. It’s clear that the stakes are high and the penalty for not complying is extremely costly!
Which is why, we’re focusing on an area that often goes hand-in-hand with security – meeting regulatory compliance. When it comes to this important topic, it’s easy to overlook fax as a compliance vulnerability. That’s why eFax Corporate ensures regulatory compliance for many key regulated industries including financial services, legal, real estate, manufacturing, construction and, of course, healthcare.
Keeping up with ever-changing federal regulations is critical
Federal regulations regarding customer privacy, record-keeping and reporting of sensitive data are ever-changing. Federal and state financial disclosure and privacy laws place tough privacy, security and accountability rules on public and private corporations and the financial industry. And in healthcare HIPAA has become even stricter, with enforcement actions more common and costly as mentioned in the SEC example above.
To help comply with these stringent regulations, our fax technology was designed to comply with such financial security and privacy regulations as the Sarbanes-Oxley Act (SOX) that regulates the financial disclosures of public corporations, the Gramm- Leach-Bliley Act (GLBA), also known as the Financial Modernization Act of 1999, as well as the Family Educational Rights and Privacy Act (FERPA) that protects the privacy of student education records, and similar federal, state and industry regulations.
In fact, the eFax Corporate family of products have been tested to meet the most important security and quality assurance protocols for data protection — including ISO and PCI-DSS.
In addition, our products underwent a rigorous compliance certification scrutiny under the HITRUST Common Security Framework for HIPAA Compliance and for that we are proud to say we are HITRUST CSF® Certified!
To be clear, not just any cloud fax service will be able to help your organization achieve and maintain regulatory compliance. Federal and state financial disclosure and privacy laws place tough privacy, security and accountability rules on public and private corporations and the financial industry, while in healthcare HIPAA has become even stricter, with enforcement actions more common and costly as mentioned with the SEC example above. Most online fax services do not provide the necessary privacy, security and administrative capabilities or forensic analysis tools to support the strictest regulatory mandates. Some may claim to be HIPAA compliant but are not willing to sign a business associate agreement (BAA) to back up that claim as required by HIPAA.
The global market leader of cloud fax and your way to compliance
One of the greatest benefits of cloud faxing, beyond increasing savings, productivity and reliability, is that it also can significantly improve compliance efforts.
Through secure and encrypted data transfer, comprehensive digital tracking with clear audit trails, secure file storage and several other methods, we help ensure industry stakeholders’ online faxing complies with the strictest mandates of federal regulations. With eFax Compliance – eFax Corporate’s proven process for helping our customers meet federal mandates regarding data transfer, tracking and storage – organizations can easily identify and report usage by individual fax number, employee, client, vendor or other criteria. With eFax Corporate as your organization’s cloud-based fax-to-email service, you will never have to worry that your faxing processes are falling short of regulatory compliance.
In the next, final segment of this series on why eFax Corporate is a game changer across all industries, we’ll reveal how digital cloud fax technology is a major contributing factor to the overall progression of interoperability in the healthcare industry – and any healthcare organization can implement it almost immediately.
For more information on the world’s #1 digital cloud fax solution, please visit www.enterprise.efax.com.