25 Best Audit Management Software 2020
Finding the best Audit Management Software for your business is now faster and easier! Compare prices, reviews, features, and get free consultation to find the perfect software.
Audits are a very essential part of any business organization. They can be conducted in-house by a team of employees or outsourced to auditing agencies. Audits take up considerable time and effort. Organizations need to make sure that all processes are streamlined and paperwork is in order. This is why most organizations now rely on audit software the simplify the entire procedure.
Audit management software is a highly popular tool in the current business scenario. It leads to complete automation of most audit-related tasks and ensures smooth documentation. Internal audit software has the ability to keep financial figures in check and facilitates compliance to government regulations. It is a useful solution that can slash the time taken to conduct audits exponentially.
Audit software is designed to develop a single comprehensive framework that manages large volumes of data and auditing processes. It is flexible enough to support any kind of organizational audit – external, internal, supplier, IT or quality. A smart business platform, audit software can enhance systematic workflow, risk management and reduce man-made errors.
Organizations all across the globe have realized the immense potential of auditing management software. There has been a manifold increase in the adoption rates of auditing systems in organizations of various industries/ sectors. Overall, audit software is a great tool that can help managers with seamless data flow, documentation management and safety regulation compliance. Here are some compelling advantages of automated audit management systems:
- Improved Performance: Most audit tools are tailor-made to give users a holistic view in to organizational processes and working. This allows managers to clearly identify poor performances. They can identify under-utilized departments, low-performing teams and even individual workers. Audit software facilitates managers to destroy any kind of wasteful practices and eliminate time-consuming activities. It leads to an improved performance, thus leading to higher business revenues.
- Saves Time: Traditional auditing processes are lengthy and cumbersome. They involve a lot of manual calculations, hence organizations usually had to spend energy and time in managing tons of paperwork. There was also always a chance of high errors or inaccuracies. However, audit software automates and mechanizes all such processes. Complex calculations can be completed in a fraction of the previous taken time, just through the click of a button.
- Ease-of-Use: One very advantageous aspect about audit software is that they have a very simple learning curve. Often managers are sceptical to invest in audit software as they feel it would be highly complicated for employees to use. Most modern software though it extremely user-friendly and presents data in a navigable readable form. This improves visibility and allows managers to make more strategic decisions that help in achieving organizational goals in the long run.
- Eliminates Ambiguities in Reports: Reports and paperwork are a very important part of audit management. When all documents are hand-written, there are high chances of errors. Audit software makes sure to gather and attach evidence to audits on site, thereby eliminating any confusion and ambiguity. Reports are not affected by any kind of bias as all processes follow stringent rules and procedures. It makes reports highly accurate and organized for better clarity.
Audit software has a range of impressive and innovative features. They implement the latest technology to monitor and calibrate all functions across departments. Here are some essential features that are popular in most audit management systems:
- Scheduling: Audits have to be completed in a timely manner, otherwise organizations may find themselves defaulting on government regulation. Hence, one of the most important features of audit software is scheduling. It should have the capability to schedule one-off and recurring audits. Managers should also be able to set alerts and reminders so that audits are never missed.
- Document Management: Internal audit software helps in handling vast amounts of documents in a structured manner. It has the ability to allow users to attach required documents in soft form as evidence for audit procedures. All critical data is stored in a central unified repository from where it can be easily accessed by authorized personnel.
- Corrective and Preventive Action(CAPA): Audit management platforms need to make sure that organizations address their weak areas and take proactive action against them. Corrective and preventive action features make it simple for managers to initiate corrective measures. This results in proper issue resolution and complete compliance in all fields.
- Flexible Reporting and Analytics: Audit tools are perfect business assets as they facilitate proper audit closure, and help managers prepare detailed reports. They allow staff members to closely analyse all key metrics and display them in a visual friendly and graphic manner. This boosts improvement initiatives in low performing areas and increases the efficacy of strategic business decisions.
- Audit Preparation Tools: Audit tools notify auditors well in advance about upcoming audits. It provides important information access to auditors such as past audits, revealed financials and historical reports. It can automatically develop a checklist with pre-established criteria. This will help auditors perform their job with enhanced quality and at a quicker pace.
There are tons of radical new features in modern audit management software. Organizations need to assess their business requirement and check their budget before opting for the best one. Most software vendors provide many customizable options that are tailor-made for specific organizational requirements. Hence managers can choose particular features or modules that will be beneficial for their business model.
Online audit software is a revolutionary technological tool that can go a long way in building up productivity and smooth task flow management. While traditional auditing processes are time-consuming and labour intensive, audit management software can complete functions through the click of a button. Here are some reasons that throw light on why auditing is the new big trend in the years to come:
- Internal audit software simplifies the entire procedure. It has many loaded templates and checklists that can help auditors save time. This makes auditing fast, agile and accurate.
- Auditing platforms enhance availability to the highest possible levels. Since most modern audit software solutions are cloud-based, team members can access the system from any place. This ensures that work is not interrupted and managers can keep productive, even on the move.
- Audit tools are ideal as they facilitate a closed-loop cycle for recording new findings, giving feedback / recommendations and putting forward an action plan.
- Audit software brings a high degree of transparency and visibility in auditing processes. It increases the quality of risk management and makes sure that companies do not default by not following mandatory regulations.
- Audit management software can manage the entire audit cycle holistically. It allows managers to plan the auditing program, prepare checklists and undertake field data collection. Audit tools ensure that all processes occur in a streamlined manner, and aid in preparing the final audit report with recommendations and action plans.
Regular audits are necessary to improve organizational performance and boost functional efficiency. Audit software are automated systems that can centralize, modify and implement risk and compliant processes. However, managers are often sceptical to adopt audit tools are they do not have adequate knowledge about them.
Organizations stay hooked to traditional auditing procedures are they do not know how to look out for the best audit software. It is important to be aware of what your organization needs before investing in a long term audit system. Here are some important considerations to keep in mind while choosing the best audit management software in the market:
- Affordability: Organizations need to be certain about their budget before venturing in the market to purchase audit software. Audit management platforms come in a wide price range – right from open source free software to exclusive heavily priced solutions. Reliable and trustworthy service vendors generally customize audit software to sit within an organization’s financial resources so that it fits within the required rage.
- Cloud-Access: Cloud-based software is the current buzzword in the business arena. Organizations need to decide whether they want an on-premise solution or a cloud-based platform. Most companies opt for cloud-based audit management software as it provides high mobility as the system can be accessed at any geographical location.
- Customization: It is vital for organizations to choose a service provider that can personalize an audit software. There is no one-size fits all in auditing tools. Every organization has different requirements that need to be catered to with care and precision. Hence, while deciding on an audit management platform, it is essential to make sure to get a customized solution that will serve organizational needs.
- User-friendly interface: Audit tools need to be intuitive and easy to understand so that they can be used by even non-technical staff members. Investing in user-friendly audit software is vital so that there is no difficulty in transitioning to the new technology.
It is essential for organizations to scan the market, check all considerations and make a final choice. Getting a perfect audit software can build up bottom line results and help your organization achieve high profitability.
An audit software by SAG Infotech
SAG GenAuditor is a flexible audit management software that offers you auto error detection to make your auditing a more reliable process. It is also a great way to get user-wise tax details. Single click payment facility is available.
Audit management system software by Softexpert
SE Audit is a great way to get end-to-end firm auditing solutions at a reasonable cost. This audit software will do section wise transaction search, will create reports in a few clicks and will create cost-reduction goals for your business.
Layered Process Audit Management Software
With the digital auditing facility of iAudited, you can easily identify the areas of financial risks and create remedial solutions. This audit management software will autosave the audits for future references.
Online audit management system software
ECAT - Electronic Compliance Audit Tool is cutting-edge audit software that helps a user to make data-driven financial decisions, save time and efforts on auditing, and automate entire auditing lifecycle over a single platform
One of the best audit software
By automating the auditing process from ground-level, MasterControl makes auditing an easy process. This audit management software is easy-to-implement and can help you conduct regulatory operations. It ensures quality compliance as well.
Software by Netwrix Corporation
Netwrix is cloud-based audit software that comes with Office 365, Sharepoint and Windows File Servers integration for the easy and quick auditing process. Users can easily export/import the data and implement risk-appropriate security controls.
online audit management system software
Stop the manual running scans and do audits based on preset filters over a single click by using SAP-driven audit management software Xandria. By automatic the daily running checks on-cloud, it saves your time and efforts.
Powerful & simple localization quality audit system
Get localized auditing solutions for the industry of any nature by using AuditMe. This cloud-based audit software comes with multi-level error typology facility to eliminate errors from your auditing process by all means. Error classification is a great help.
Software by MetricStream
Mitigate third-part risks associated with your auditing process, find the previous auditing reports easily by setting filters and automate entire audit lifecycle by using app-based audit management software, MetricStream Policy, and Document Management
Simple, Customizable Audit Management Tool
LARS - Laser Audit Reporting System is web-based audit software that helps a user to do quick internal audits at multiple levels, centralize the auditing process, acquire instant access to completion status of ongoing audits, and reduce audit work paper
A comprehensive accounting software
Tally.ERP 9 is India’s leading business management software for GST, accounting, inventory, banking and payroll. It is an economical and one of the most popular ERP software solutions available in the industry, used by nearly 20 lakh businesses. You can download a trial version of Tally.ERP 9.
Online audit software by Isolocity
Get cloud-based audit solutions for all your businesses by using Isolocity. This audit management software renders its automatic help in data mitigation, audit report generation, data-driven decision making, and financial risk management.
Software by Qualityze
Qualityze EQMS is a fully featured Document Management Software designed to serve Startups, Enterprises. Qualityze EQMS provides end-to-end solutions designed for Web App. This online Document Management system offers Offline Access, Collaboration Tools, Compliance Management, Document Assembly, Supplier Quality Control at one place.
Spectrum - The Complete Tax Compliance Solution
Spectrum ( A Completed Tax Compliance Software 360? Solution ) is a combination of Income Tax Auditor Edition, e-TDS, Document Manager, Project Report / CMA, Form Manager and e-AIR
A Comprehensive Tax Compliance Solution
Spectrum is a combination of Zen Income Tax Auditor Edition, Zen e- TDS, Zen Service Tax, Zen Document Manager, Zen Project Report / CMA, Zen Form Manager & Zen e- AIR.
Cloud Based Accounting and Compliance Software
IDOS- Complete Accounting, Financial and audit management software solution that comes with automatic compliance management. It helps business managers to take strategic decisions quickly by offering all kind of business reports & dashboards. And for all this, You do not require accounting knowledge.
iPad Kiosk App for Customer Feedback, Lead Capture
Create your own data capture kiosk app for iPads or Android tablets without the need for an internet connection using this offline audit software
Best Income Tax, TDS, Audit, CMA Taxation software
EasyOffice is India's Best Taxation Software to file your Income Tax Returns, TDS returns and Audit Reports easily. EasyOffice Software meet all sorts of Taxation compliance. Trusted by Thousands of Chartered Accountants , Tax professionals & Corporate users.
Document Management System
AppsTec is a flexible content management, which makes managing your documents easier. Right from capturing data to indexing and retrieving documents, it offers end-to-end document management solutions. Moreover, it helps reduce physical storage space while helping you save on costs and leveraging benefits.
Account Confirmation and Reconciliation Software
India's premier online software for Account confirmation and reconciliation. Our solutions help companies in automating the current process hence improving their operational efficiencies.
Paperless Valdiation Software for Life Sciences
ValGenesis is fully configurable giving you the most flexibility in terms of tailoring the application to meet your corporate needs specifically. The system administrator at your site is capable of carrying out required changes to mirror your current process flow without any special programming skills required.
V-Comply is a Governance, Risk and Compliance Management platform on the cloud that allows you to manage and track your business compliances effortlessly on the go.
A risk management, audit workflow, and document ma
GRC Envelop is a web-based work flow and document storage tool specific for the risk, audit and control environments. Mainly used for internal and external audits focused on financial, IT, HR and sales processes within large corporations.
Enterprise EHS Management Software on SharePoint
Enterprise, flexible EHS Software on Microsoft SharePoint and Office 365, providing seamless integration with all your Microsoft applications. Configure your system, and analyze your EHS data with powerful Business Intelligence dashboards and ad-hoc reports.
Intelligent platform for Audits & Inspections
Wobot is the smart way to deal with your organizational communication problems. An affordable way to manage your workflows on-the-go, Wobot's unique AI capabilities will help you make the right business decisions by analyzing patterns daily.