New system gives SEC more security

Kumpol Sontanarat, director of the information technology department at the SEC, said the SEC was implementing enterprise content management as an internal control framework to manage information technology and a database in the organisation to improve productivity, reduce risks and offer strong IT governance to business and participants.

The internal control framework provides security, management and operations to increase confidence amongst participants and the public.

The aim is to provide IT governance to support participants and the public so they able to utilise new information technology to increase their productivity, reduce human error and have real-time updates, along with record management and retention.

"The ECM will increase confidence for users of our services. It will also reduce management operating costs by more than 20 per cent and be more efficient," said Kumpol.

Moreover, the SEC also provides various electronic services such as online reporting, allowing business to send their annual reports over an online network.

Meanwhile, online approval for products in the capital market such as securities, unit trusts and debt instruments is available.

The SEC is planning to provide a facility by the end of this year that will allow participants to send invoices over the Internet. It also provides invoice printing and application payments at banks, ATMs and counter services. It has a plan for electronic signatures to be part of the electronic-approval facility in the next step.

To support security concerns, the SEC will keep information such as e-mail in the database for three years before it is erased.

"The organisation utilises IT to enhance analyses, speed up decision-making, reduce cycle time to improve productivity, enhance tracking and manage business continuity," said Kumpol.

Jirapan Boonnoon

The Nation