How LuitBiz DMS helps drive Australian companies forward?

In Australia, with laws and regulations like Privacy Act 1988, Privacy Regulation 2013, AS ISO 15489, General Records Authority, AGLS Metadata Standard, AS/NZS ISO 16175, Australian Government Recordkeeping Metadata Standard (AGRkMS), Digital Continuity 2020 policy etc, the need for a well-structured records management system in business is paramount. Enforcement for noncompliance can be severe, including subpoenas, legal actions, and costly penalties. Here's how LuitBiz DMS addresses some of the document related compliances required in Australia:
Privacy Act 1988
Requirements
  • Open and transparent management of personal information
  • Anonymity and pseudonymity
  • Collection of solicited personal information
  • Dealing with unsolicited personal information
Non-compliance Penalty
  • For serious or repeated privacy breaches under the Australian Privacy Act 1988, non-corporate entities face a maximum penalty of $2.5 million, while companies can face penalties of $50 million, three times the value of any benefit obtained, or 30% of their adjusted turnover, whichever is greater.
How LuitBiz DMS helps
  • Documents both in transit and at rest, are stored in encrypted servers developed on the principle of N+1 redundancy using industry-leading protocols in Australia to ensure maximum transperency and security.
Privacy Regulation 2013
Requirements
  • Protection of data privacy and open and transparent management of personal information
  • Organizations need to take reasonable steps to destroy or de-identify personal information once it is no longer needed or required to be held.
Non-compliance Penalty
  • Non-compliance with the Privacy Act 1988 (Cth) and the Privacy Regulation 2013 in Australia can lead to significant penalties, including fines of up to AU$2.5 million for individuals and potentially AU$50 million or 30% of adjusted turnover for corporations, depending on the severity and nature of the breach.
How LuitBiz DMS helps
  • In LuitBiz DMS documents are stored in encrypted servers developed on the principle of N+1 redundancy using industry-leading protocols toensure security & privacy.
  • Document life-period can be defined in LuitBiz DMS to make sure that documents are destroyed on time based on required standards.
AS ISO 15489
Requirements
  • Retention schedule complies with up-to-date laws and regulations
  • Indexing accuracy and accessibility of documents
  • Manage a document as a record in a recordkeeping system with relevant associated metadata
  • Protection and preservation of records
  • Timely & consistent destruction of inactive files
Non-compliance Penalty
  • Non-compliance with the recordkeeping policy may result in action, ranging from counselling to formal disciplinary proceedings.
How LuitBiz DMS helps
  • In LuitBiz DMS documents are stored in encrypted servers developed on the principle of N+1 redundancy using industry-leading protocols to ensure security & privacy.
  • Document retention schedule can be defined in LuitBiz DMS to make sure that documents are destroyed on time based on required standards.
  • In LuitBiz DMS documents can be tagged with user defined metadata to ensure quick retrieval.

 

General Records Authority (GRA)
Requirements
  • GRA 31 requires destruction of physical records for common organisational practices like public interest disclosure, public or official inquiries, outsourcing arrangements, contract under seal/deeds etc after they have been successfully migrated to electronic records management system in order to support the Digital Continuity 2020 policy and the Australian Government Digital Transition Policy
Non-compliance Penalty
  • Non-compliance can lead to penalties, including potential civil penalties.
How LuitBiz DMS helps
  • Document destruction schedule can be defined in LuitBiz DMS to make sure that documents are destroyed on time based on required standards.
Australian Taxation Office
Requirements
  • Management of all business records of all transactions relating to tax, superannuation and registration affairs during the lifetime of the business operations electronically
  • Most of these records need to be maintained for atleast 5 years from the date of creation of the record
  • These records must be readily available when ATO officials ask for them in a secure electronic framework
Non-compliance Penalty
  • Non-compliance can lead to administrative penalties (fines), interest charges or criminal prosecutions.
How LuitBiz DMS helps
  • Document retention schedule for 5 years can be defined in LuitBiz DMS to make sure that documents are destroyed on time.
  • In LuitBiz DMS all documents along with their audit trail is available to ATO officials during compliance audits.
AS/NZS ISO 16175
Requirements
  • Records that must be maintained and preserved must be available to be produced or reproduced in digital format along with the different versions of the documents throughout their entire lifecycle
  • Eventual destruction or permanent preservation of documents and records should be ensured while retaining integrity, authenticity and accessibility
Non-compliance Penalty
  • Non-compliance can lead to business consequences, such as decreased quality, diminished productivity, and potential legal issues.
How LuitBiz DMS helps
  • The version control feature of LuitBiz DMS ensures that all the versions of the documents are available in digital format throughout their entire lifecycle.
  • In LuitBiz DMS all documents along with their audit trail is available. In case of destruction of documents, the entire deletion report is availabe for audit.

 

Australian Government Recordkeeping Metadata Standard (AGRkMS)
Requirements
  • All business systems should consider available metadata elements and document them as part of any recordkeeping assessment.
  • There must be a searchable index of stored data and metadata elements
  • Data must be readily retrievable and viewable
  • Metadata elements should be available as required to ensure compliance
Non-compliance Penalty
  • Non-compliance can lead to difficulties in finding, retrieving, and managing records, potentially impacting accountability, transparency, and the ability to meet legal and business obligations.
How LuitBiz DMS helps
  • In LuitBiz DMS metadata components can be defined as required to ensure compliance
  • Users can tag documents using these metadata tagging templates to ensure quick retrieval.
  • LuitBiz DMS comes with various advanced Search options including OCR based full text search that makes document retrieval very fast and easy.
Good Manufacturing Practice (GMP) Act
Requirements
  • All documents related to the manufacture of intermediates or APIs should be prepared, reviewed, approved, and distributed according to written procedures in paper or electronic form.
  • Revision histories of all documents and audit trails must be maintained
Non-compliance Penalty
  • Non-compliance can lead to serious consequences, including cancellation of your therapeutic goods from the Australian Register of Therapeutic Goods (ARTG), seizure of goods, and potential criminal prosecution.
How LuitBiz DMS helps
  • In LuitBiz DMS all manufacturing related documents can be distributed along with approval details in electronic format to all the stakeholders
  • The built-in version control mechanism of LuitBiz DMS ensures that all versions of the documents are stored centrally.
  • In LuitBiz DMS the complete audit trail of documents is available to ensure compliance during audits.
FDA 21 CFR Part 11
Requirements
  • Protection of records to enable their accurate and ready retrieval throughout the records retention period
  • Time stamped audit trails of documents must be maintained
  • Document approval processes must be streamlined with electronic signature
Non-compliance Penalty
  • Non-compliance can lead to FDA citations, warning letters, and potentially more severe actions like fines, permit suspension, or even criminal charges, especially if the non-compliance is severe or frequent.
How LuitBiz DMS helps
  • In LuitBiz DMS all documents are stored inencrypted servers using industry-leading protocols to ensure security & privacy
  • Time-stamped audit trails in LuitBiz DMS ensures that the complete life-history of the documents areavailable readily during FDA audits.
  • The workflow feature of LuitBiz DMS enables the timely approval of documents with electronic signature.

 

Non-compliance is far more costly in Australia

Non-compliance with records management in Australia can result in significant financial penalties, reputational damage, and operational disruptions, with fines for employers reaching up to A$630,000 per contravention and A$126,000 for individuals.

Keeping all these requirements in mind, LuitBiz DMS is best suited for companies in Australia because LuitBiz DMS offers:

 

Mobile Friendly

The number of smartphone users in Australia was estimated to be around 33.59 million in 2024 which is equivalent to 126.4 percent of the total population. LuitBiz DMS is completely responsive and can be accessed via any mobile device connected to the Internet making it a very practical document management system for the Australian market.

Easy to learn & get started & Support for multiple locations

Every screen of LuitBiz DMS has audio and video guides that helps users get started with the system within minutes of signing up. This is very practical for US companies who can save a lot of training time of their employees.

LuitBiz DMS supports multiple business locations. There is no limit on the number of business locations that can be added to LuitBiz DMS

Automatic OCR for scanned documents

Most US companies have a sizeable amount of paper documents that need to be digitized and stored in a document management system for easy retrieval. The automatic OCR feature of LuitBiz DMS indxes your scanned documents without having to upload 2 copies - one image and the other OCR copy of each document. You only need to upload your scanned image in LuitBiz DMS!

Automatic version control

In Australia, 19.8 % of business time – the equivalent of one day per working week is spent by knowledge workers looking for the right document. The built-in version control system of LuitBiz DMS helps you maintain complete historical records of all the different versions of the documents with complete document usage history

Easy to configure workflow for document approvals & Retention Periods

The easy-to-configure workflow feature of LuitBiz DMS helps automate approval processes without any manual intervention significantly reducing document turnaround time. Additionally, LuitBiz DMS allows users to configure document retention periods for statutory compliances.

Voice Approval With Mobile Devices

The Voice-to-text feature of mobile browsers is very useful for approvers who can approve documents while on the move via their mobile devices without even having to type their approval comments

Easy search & document knowledge

Professionals in Australia spend 49% of their time searching for documents and their related information while 33% struggle with the document versioning. LuitBiz DMS allows you to store and search information not included in the body of the document. This saves a lot of time as already researched and collected information do not get lost and can be retrieved immediately

Document Metadata Management

LuitBiz DMS allows document group leaders to define metadata templates that can be used by all the document group users to store and retrieve documents with metadata search to ensure complience with AGRkMS standards

Document Library & File Format Independent

All document formats can be stored in LuitBiz DMS (barring some executable file formats)

LuitBiz DMS Enterprise comes with various template documents that are required for Income Tax, ISO and other compliances. This helps users in having the correct document template for ensuring various compliances

Document Retention Policies

LuitBiz DMS allows the admin to define document retention policies for the different groups of documents. This helps the timely destruction of documents to ensure compliance with AS ISO 15489 standards

"View Users" Module

The "View Users" module of LuitBiz DMS allows secured sharing of documents with those users who just need to view documents and not perform any operations on them.

Customization

LuitBiz DMS can be customized to meet your company's document management requirements. This ensures that you need not change the way you work by switching to LuitBiz DMS - rather the system can be customized to suit your processes

 

LuitBiz DMS helps you free up your knowledge worker's time spent in chasing trails of paper documents and increases their productivity by around 50%!

 

Why is LuitBiz DMS better for Australian Companies as compared to other DMS software?

Easy to learn and implement - comes with audio & video guides in every screen

Completely customizable based on your business requirements

Hosted on Australian servers and comes with great customer support

Pay for "What You WANT"not "What you are GIVEN"

Our micro-instances ensure that you have the entire elastic server for yourself that can be expanded based on your space requirements

 

 

 

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