Keeping the financial records clear is frequently considered to be challenging by organizations. This becomes more particularly the case in the dearth of the right technologies. The processes involved become time-consuming.
Audit management software comes to be highly useful in such circumstances. This brings ease to the process and makes them less time-consuming. It also induces efficiency, accuracy and makes audits more productive and insightful.
When audit management software is versatile, it becomes more useful for organizations as it can be applied to varied processes. Software for auditing should ideally include modules for internal and operational audits, supplier audits and IT audits.
Versatile software for audit management will further come in to be useful at all stages of a work process. It aids with planning and scheduling, and the development of checklists, audit plans, and standards. One of the key advantages of using auditing software is that it helps with the systematic maintenance of records. Historic records can be pulled up and compared for easy identification of trends. Similarly, with the historic records available for comparison, reporting becomes more insightful.
It is a significant bit of help if the software system for auditing makes simple procedures available for generating customized reports. This ensures that the audit results find the maximum value in terms of assessment and implementation. Sending reminders and facilitating employee communication through e-mails is another important feature that software for auditing should have.
It is then preferable that the auditing system used by an organization is customizable. A user should be able to introduce custom fields and checklists by using basic HTML. This makes the auditing system the best match for an organization’s requirements. Similarly, risk assessment and Corrective Actions/Preventive Actions (CA/PA) are other useful modules for the software.
Harrington Audit Management System 4 (HAMS 4) by Harrington Group International (HGI) is a highly updated auditing solution and the best match for present-day business requirements. HGI is the global leader in quality management systems.