Audit management software is a computer program that automates managing audits, including calculating and distributing costs to relevant departments. Audit management software ensures that all aspects of an audit are tracked, from the auditor assigning tasks to employees to updating in-depth reports for every stakeholder. Harrington Group International is a trusted company that provides audit management to companies in the US, Canada, Australia, and the UK.
What are some benefits of audit management software?
1. Inspections can be scheduled and organized quickly
This is the most fundamental benefit of internal audit software since it’s a key feature that all companies want to see. Because there are so many other benefits of audit management, this is the one that everyone remembers first. A firm that uses audit management can perform audits and inspections much faster since tracking tasks, employees, and reports are all automated. Audit management software eliminates the inconvenience of tracking every small task from beginning to end.
2. The efficient creation of documentation is easy with software
Some smaller firms struggle with documentation to save time. However, some firms use audit management software to facilitate the creation of their documents quickly and efficiently. These tools are designed to create standardized templates to help with documentation. The chances of errors occurring are greatly minimized, resulting in fewer mistakes and a greater sense of productivity throughout the entire firm.
3. Tracking employee time is easy with audit management software tracking software
One of the most common uses for audit management software is to track employee time during an inspection or audit. The time of day employees are scheduled to work can be tracked, with each employee receiving a daily time card for their work hours. This makes picking up where employees have left off easy; when an employee has reached their allotted hours, the time is automatically added to their card. Tracking employee time is easy and becomes a routine part of the business process; some companies track it every three months to ensure their employees are oriented on how they work and how much they make.
4. Less waste with audit management software tracking software
Audit management software automatically tracks all aspects of the documentation, from tracking time to keeping track of who has been assigned to each task. A greater sense of efficiency and productivity results in lower costs. For example, a firm that uses audit management can reduce the amount of paper wasted, which can be costly or cause extra strain on certain departments.
5. Audits can be conducted more efficiently
Audits are often performed to ensure that a company provides the best service to its customers. To do this, audits must be conducted on an ongoing basis so that employees can be trained and workers can be evaluated for performance. Some firms manage this process by having a night or two each week where all employees are required to come in and work on paperwork. While this process is effective and will minimize the amount of paper waste, it does require additional staff members and overhead costs.
At Harrington Group International, we believe that there are several benefits to using our audit management software. While these are just a few ways we can help your firm, we’re always committed to helping you succeed in the area of audits and inspections. We create customized tools designed to eliminate waste and automate processes so you can reach your goals as a business. Contact us today if you’d like more information about us or to learn more about how we can help your firm succeed.