How to Always be Prepared for Company Audits
Not all organizations experience audits on a regular basis. However, those that do understand the trials and tribulations that typically goes hand in hand with an audit. Organizations that are publicly run, tax-exempt or contracted by the government face audits on the most frequent basis, yet every business has the potential to be audited by an outside entity at some point. Furthermore, many businesses conduct internal audits. Whoever is conducting the audit demands access to a significant amount of company data and information.
They do this in order to make certain that your practices are compliant with either regulatory agencies or within company rules and regulations. Auditors may request information in regard to your payroll and/or other employee-based data. They may also ask for your organization’s financial statements. That is why it’s so important for all of your company documents to be accessible in electronic formats. The bottom line is that if your documents are not organized properly and in the most efficient manner possible the audit can become incredibly stressful and protracted for all parties involved.
If you can provide auditors with digital access to all of the necessary files, the auditors will look upon you in a better light. The bottom line is that they don’t want to do the extra work that it takes to sort through countless paper files and paper documents. To make matters even worse, if your documents are not organized properly and stored in a digital format you may very well be running the risk of being noncompliant. Paper files and filing cabinets are no longer viable methods of storing and managing documents.
We now live in an electronic world, and auditors fully expect that your business will comply with that way of doing business. When facing an internal or external audit it’s incredibly important to portray your department or your entire company in a manner that builds confidence that you are being compliant at all times. Paper documents stuffed inside paper files that are shoved into metal filing cabinets no longer do the trick. It actually shows that you are completely out of date and totally out of touch. The good news is that transforming from paper to an all-digital document solution is less painful and more cost effective than you may be thinking. Utilizing an electronic document management solution also allows you to remain compliant at all times – with automatic versioning kept in the system at all times.
Please contact us today for more information about how to always be prepared for company audits and how our digital solutions can help your organization. NeoLedge is a well established, yet fast growing electronic document Management Company that has a global reach. The business was founded in France over 25 years ago by a team of entrepreneurs that truly believe innovation is a living and breathing process that pushes us to find better ways to help organizations perform.
That principal has served us well through the years, as we are now a recognized throughout the world as a groundbreaking leader in the cloud based software industry. We are incredibly proud of the fact that we have guided and continue to guide hundreds of organizations through their digital transformation. Our company has also supported thousands of daily users, and millions of managed documents in both the public and private sectors.