There are many types of audit softwares, with different features and different pricing. Your company's business needs will help you choose the right software. Learn more about the cost, requirements and implementation. Don't hesitate to request a trial if you aren't certain what to look out for.
Features
The software that audits should be able to automate the auditing process should come with a range features. These include the ability for users to assign tasks and to track time until they are completed. A notification system to notify users of due tasks should also be included. Furthermore, the software should have the ability to create customized forms and checklists to streamline data collection. It should include a dashboard that allows you to monitor task progress and see data trends.
The audit information could be distributed over multiple system types, and in different formats. It may also be stored in different database management software and moved through different telecommunication environments using various protocols. Additionally, it might be located at different physical locations. This complexity makes it crucial for auditing software to have a feature that allows data to be sorted by multiple criteria.
Prices
Auditing software can be expensive. Cherwell-Express has found that half of organizations have reported spending at minimum $50,000 on software audits. Some organizations spent as much as $5 million. Many times, audits of these organizations are conducted by independent software vendors that have the authority and authority to audit their customers. In these instances, vendors will inform clients about the audit process and notify them beforehand.
The disruption to daily activities is one the biggest expenses associated with software audits. Additionally, staff will need to be diverted to audit preparations which can take a lot of time. The survey revealed that 45 percent of software audits were completed in less than three months.
Requirements
You must have certain requirements for your audit software to be successful. The software must work with Microsoft Office products. It should also be able to perform the required audit functions and can be installed on a standalone PC or a network. It should be possible to set security permission levels or modify default software parameters. It should also require minimal administrative support.
Finally, audit software should not be difficult to use. It should also be easy to use by cross-departmental collaborators. It should provide features that enable your team to learn about the processes of the other departments, such as information security and regulatory compliance.
Implementation
After acquiring a software auditing solution, it is important for an organization to implement it. An audit allows an organization to examine the way the software is being used and ensures that it works according to its intended purpose and design. An organization should establish a team of software auditors that includes employees from IT, legal, and software procurement.
There are many types of audit software available, including generalized software, business intelligence (BI), and spreadsheets. Each type of software has its own requirements for data analysis and extraction. These software programs are easily integrated into an organization's IT infrastructure, or can be developed over time by consultants.