Thursday, October 12, 2006 Electronic filing becoming popular among local firms
MAKING use of information and communications technology (ICT) in storing documents will reduce the documentation cost of companies.
This is why the government in Japan has implemented the electronic-Document Law, which stipulates the use of ICT for storage and other means of handling documents of private enterprises and other organizations.
The law permits the storage of all documents, which private enterprises in Japan are legally required to store for a certain period, in an electronic format.
The Philippines’ electronic-Commerce law, which aims to facilitate domestic and international electronic transactions and to recognize authenticity and reliability of electronic documents, is not as specific as that of Japan.
But Hewlett-Packard Philippines (HP) Corp. business development manager for information lifecycle management (ILM) Bart Davidoff said storing business processes in electronic form has gained momentum in the country.
This, as more local companies deal with multinational companies as a result of globalization, he said.
Less cost
This is the reason HP launched this year its ILM solution, which helps companies reduce cost of managing increasing amounts of data while transforming them into accessible business information.
According to a statement from the Japan External Trade Organization, the Japan Business Federation estimates that companies can reduce annual cost of storing tax-related documents in paper format by 60 to 70 percent and “even more.”
Davidoff said companies in countries, such as the United States and Japan, require their partners to have business processes documented and to keep electronic mail for future legal references. (JBN)
