Audit Management
Most companies run their operations in accordance with government regulations, industry mandates and corporate governance standards. As a result, they are required to conduct regular audits to ensure compliance. With increasing business complexity and the rising number and types of audits that companies need to conduct, audit managers are realizing that point-solutions and spreadsheet-based systems are no more suitable for managing audit programs.
Challenges being faced include data inconsistency due to varying practices across regions and business units, poor analytics due to lack of visibility and access to information, and productivity loss due to manual processes for information routing and communication. These issues increase the risk of noncompliance as the system does not guide users based on regulatory requirements and cannot enforce a process for audits, corrective actions, and investigations. And even if companies are compliant, it is difficult to provide evidence of compliance from an audit standpoint.
MetricStream solution provides the building blocks for streamlining the audit management process in the organization. It provides the flexibility to support any type of audits, simple as well as complex, internal and external, and for any regulation or function. It enables centralized control of audit resources and planning to support auditing as a corporate function. Powerful reporting and analytics on audit data are made easily accessible and can supporting regulatory as well as internal reporting requirements without any manual effort.
Advanced capabilities like built-in CAPA workflows, email based notifications and alerts, risk assessment methodologies, and offline functionality for conducting at remote field sites allow organizations to implement the industry best practices for efficient audit execution and ensure integration of the audit process with the overall enterprise-wide quality management system for successful audit management.
