Audit and Regulations

Audit and Regulations – Reduce Audit and Compliance Challenges Using Intelligent Software

No matter what kind of organization you run, you must comply with local, state, and federal regulations and laws.

Some of these regulations delineate how businesses are required to report income and pay taxes, while others are more concerned with the disposal of waste and excess materials, the handling of human resource issues, and a wide variety of other issues.

However, for any industry that produces a product or service — no matter how large or small the organization — there are one or more government regulations that must be handled appropriately.

The sheer volume of laws, rules, and regulations pertaining to business can seem overwhelming, even if you’ve been in business for some time.

Fortunately, advances in technology can make staying compliant — and out of hot water — much easier.

How Smart Software Solutions Can Facilitate Audit and Compliance Tasks

There are many technological tools to help sort through complex compliance issues, allowing your team to analyze both structured and unstructured data in large volumes for a reduction in errors and more thorough auditing.

Manufacturing-type businesses, in fact, could benefit highly from enterprise content management (ECM) software. This type of software system can provide cost savings through a streamlined auditing process in addition to allowing secure access to critical records on an as-needed basis.

Any business will gain advantage from a solution for records management that can help auditors or other staff manage how long the document is retained and how it’s disposed of at the end of useful life.

By employing the customizable options available through our customized OnBase ECM system, your documents can be deleted automatically based on an assigned expiration date — or get a final review and approval before deletion.

Plus, financial services providers can use a tailored ECM software solution to manage requirements for Sarbanes-Oxley (SOX) compliance while managing the costs of that compliance for time and revenue savings.

Using ECM or Records Management for Cost Savings and Risk Management

There are numerous benefits to using leading-edge ECM and records management software to ensure your compliance with laws and regulations. These include:

⦁ Instant updates providing rapid response to changing regulations.
⦁ Compliance changes are stored and communicated digitally.
⦁ A high-level compliance dashboard is provided for real-time risk reduction for compliance officers.
⦁ Management of stored documents is pre-defined to minimize risk.

Additionally, employing software to manage compliance tasks and oversee risk elements automatically can speed your business processes, free up key staff to focus on pertinent issues, and increase cost-savings when used over time.

If you’d like to take a look at how we can help you manage your risk management and audit compliance needs to help your business reduce liability, increase agility, and cut costs, contact us on our website or call 203/855-0101 to discuss the possibilities.

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