The Benefits of Audit Trails and Document Tracking

Documentation is crucial when your business is going through an audit or regulatory compliance check. Document tracking allows you to create an electronic record of all activities that can be examined or shared with anyone. The advantages of audit trails and document tracking are enormous and can assist your business avoid expensive fines and penalties for non-compliance with requirements.

For example, HIPAA requires healthcare providers to keep verifiable records of patient data. The same requirements for accountability and record keeping are also required in other industries, especially when there are complicated processes such as purchasing new equipment, completing the loan application, or sending out invoices to clients.

But, many companies struggle to make sure that every process is properly documented and recorded. Using an audit trail that encompasses the entire process from start to finish, is a great way to avoid human error and provide an exact picture of the work completed.

To ensure that you have an audit trail, it is essential to ensure that all activities and tasks are included in a specific workflow. The entries that are duplicates or already logged in another part of the process must be wiped out. This can help reduce the time required to review audit trails and prevent the possibility of discrepancies.

Folderit’s tracking features generate an audit trail that is automatically created for all files. It will reveal when a file was transferred into or removed from the folder, and who was responsible for it. This provides accountability for managers and team members and helps to eliminate the question, “And who wanted this by when?” as well as providing transparency that can be viewed at any time for any document.

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