With the help of audit management software, an audit can be completed with greater efficiency. This leaves more time for auditors to qualify results and provide constructive feedback. Below are the top 12 benefits of audit management software.
An auditor’s ability to quickly adapt to a new software system is a key driver of successful audits. A user-friendly software design also bolsters auditor satisfaction and helps retain top performing auditors. When choosing audit management software, you should seek software with the following qualities:
- Compatibility with a variety of devices, including tablets and other mobile devices
- A user interface with a short learning curve
- An intuitive format that seamlessly guides users from step to step
- A design that makes it easy to prepare professional reports
- The ability to retrieve required data quickly
Standardized Audit Evaluation Tools
Audit management software yields the greatest results when tools and processes are standardized across your organization. Standardization is important because it facilitates the comparison of audit results from multiple organizations. Software plays a large role in standardization by providing uniform features such as the following:
- Audit checklist templates
- Set evaluation criteria
- Uniform tracking methodology
- Corrective action tracking tools
Effective audit management does not have to be costly. Software offers a cost-effective solution to auditors seeking an inexpensive way to improve their efficiency. Cost savings begin immediately with a drastic reduction in auditing materials such as paper modules and binders. Your return on investment will continue with the following opportunities to save:
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- Total audit time is reduced, enabling auditors to maximize their time
- Companies can return to business as usual faster, optimizing revenue
- Cloud-based software means that companies can save money on auditor accommodations
Traditional audits are time consuming because they involve manual entry of information and data. Audit management software saves time, energy, and money for people who invest in it. When evaluating software options, you should give priority to software providers who promise to improve your efficiency. Some of the specific ways audit management software will enhance productivity for auditors and customers include the following:
- Improved data quality
- Reduced audit completion time, which enables everyone to devote attention to increasing revenue faster
- Heightened overall performance
Error reduction is one of the most valuable benefits of audit management software. The manual methods used with traditional audits mean that results can be influenced by human error. This can negate the validity of audit data. A robust software system greatly reduces the likelihood that human error will contaminate audit results. Here are some software features that help reduce errors:
- Automation of tasks
- Seamless integration with existing quality systems
- Automatic tracking of audit activities
Software with a visual interface and a customizable dashboard enable auditors to quickly see a snapshot of progress and results. This concise visual format allows users to easily relay results to managers and stakeholders. Below are some examples of visual statistics offered by audit management software:
- Pivot tables
- Trending data
Notably, identifying audit trends is helpful to auditors and companies alike. While auditing trends have always existed, audit management software brings them to life in a visual, organized format.
Global Applications and Extensibility
Maintaining a competitive edge in the audit management industry requires a willingness and desire to expand into emerging markets. When evaluating software options, you should seek a provider with a strong global presence. This helps to ensure the following:
- Auditors have the tools to properly conduct their job regardless of location
- Standardization is maintained even when auditing companies with a presence in multiple countries
- Platforms that consider cultural competency during the design phase
Cloud-based Audit Management
Conducting an audit is an intense process that often requires the ongoing participation of an entire auditing team in addition to auditing managers. This presents a challenge for companies with managers who travel or who work from remote locations. Fortunately, choosing audit management software that is cloud-based allows employees to prepare for an audit at any point in time and from any location. Advantages of cloud-based audit management software include:
- Auditors can conduct work using their preferred device
- Ability to conduct inspections and customize tools from a remote location
- Apps permit auditors to file reports at any time from any location
Easy to Customize
Audits are like DNA in the sense that no two audits are exactly alike. Audit management software should be flexible and customizable to reflect the nature of the audit and the type of organization being audited. For instance, managed healthcare organization audits focus on HEDIS compliance, care coordination, and quality improvement. Safety audits, on the other hand, evaluate compliance with Occupational Safety and Health Administration (OSHA) standards, safety training, and ergonomics. Below are some of the many types of audits that audit management software can facilitate:
- Process audits
- Financial audits
- Manufacturing audits
- Product audits
- Safety audits
- System audits
- Compliance audits
- External audits
- Internal audits
Eco-friendly and fully digital
Audits of the 1990s and early 2000s were marked by stacks of 5-inch binders containing evaluation criteria for compliance with key standards. This approach was not environmentally friendly because every audit would require reams of paper, a host of printing supplies, and binders – not to mention wear and tear on printing devices.
The best audit management software virtually eliminates the need for paper, binders, and printing supplies. By investing in audit management software, auditors save money and preserve the environment by utilizing a convenient online platform. Auditors no longer need to lug around heavy, cumbersome binders because they can complete their work using a tablet or laptop computer.
Automating internal auditing processes leads to improved quality and more accurate results. Automation in the auditing process facilitates documentation of evidence and the generation of auditing reports. Time is saved and auditors are able to devote their energy to offering feedback and guidance.
Among the most widely used automated tools is the creation of audit templates. Users can create templates quickly and easily to provide auditors with a customizable preliminary framework to conduct the audit. Audit templates are created by saving the most widely used keywords and organizing them into categories. This allows users to easily specify the checklists and questions they require. Templates can be modified and questions can be added as needed.
Free Product Trials
Leaders in the audit management industry are confident about their software’s ability to produce measurable results. They welcome opportunities to demonstrate their software to prospects and use the following strategies to showcase the benefits of their software:
- Participation in industry trade shows
- Preparation of online videos or tutorials
- Free 30 day product trials
What’s your experience with choosing audit management software? Let us know down in the comments!