The Benefits of Audit Trails and Document Tracking

If your company is going through an audit or regulatory audit, you must to ensure that all transactions and processes are documented. Document tracking permits the creation of an electronic trail that can be shared and looked at by anyone. The benefits of audit trails and document tracking are enormous and can help your company avoid costly fines and penalties for non-compliance with requirements.

HIPAA For instance, HIPAA requires healthcare providers to maintain verifiable records about patient information. The same needs for accountability and recordkeeping are also applicable to other industries, especially when there are complex processes, such as purchasing new equipment, processing the loan application or sending invoices to customers.

Many companies, however, struggle to ensure that all processes are documented and recorded correctly. An audit trail that covers the entire process from start to finish is a great method to prevent human error and provide a clear picture of all tasks completed.

One of the most important things in maintaining an audit trail is making sure that it includes all tasks and activities within a specific workflow, removing duplicate entries or those that have already been recorded in another section of the process. This will reduce the time needed to review audit trails and eliminate the possibility of discrepancies.

Folderit’s tracking tools create an audit trail for all documents. This will show when a file was moved into or out of the folder, and also who was responsible for it. This eliminates the question “And who was the person who wanted it by when?” and provides transparency for any document.