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‍Understanding What to Look for in Audit Software

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January 18, 2024

Audit software is everywhere and nowhere at the same time. What is meant by this? 

Well, audit software is essential for all firms of all sizes, right? But with such a huge number of options available and with many of these options only being suitable for huge firms or sometimes just for specific use cases, how can anyone know what to look for in audit software? The challenge of finding audit software that fits a specific businesses needs is often given up before its attempted.

This guide will help you understand the key features and considerations to make the right choice for your workplace.

Key Features of Audit Software

The right audit software should have robust features that streamline processes and improve efficiency. This might not sound like the most profound thing ever said about audit software but you’d be surprised by the number of audit software solutions that create bottlenecks in how firms can work. It’s mind-boggling. 

Integration Capabilities

With that in mind, the number one most important aspect to consider is integration capabilities. The best audit software solutions should easily integrate with your existing systems.
One major problem for auditors is not the lack of audit software but the lack of time they have to implement them well enough to be useful. Choosing audit software that seamlessly integrates with an existing workflow not only saves time but also means the speed at which you’ll be able to save time and take advantage of all the other benefits is much, much quicker.

User-friendly Interface

Another key feature of audit software that goes hand-in-hand with integration capabilities is a user-friendly interface. It should be intuitive, easy to navigate, and fun to use as all of these reduce the learning curve for new users. 

One thing DataSnipper customers often say about the platform is that it gamifies some of the more boring aspects of ticking and tying. This not only makes being an auditor more fun but at the same time will help drastically reduce errors. 

How can you not be tempted by that?

Ability to Handle Large Data Sets

Audit software should be capable of handling large data sets so you’re able to track meaningful insights. 

If the audit software you’re using can only handle a limited number of data points or becomes unbearably slow when handling a large data set, it will fail at its primary job - to make your work faster. 

Try to find audit software that can pull the same type of data from similar layouts and lets you easily track the audit trail. If there’s time to be saved, it’s here. 

Two Security and Support Points You May Not Think Of

These two points, security and support, are often an afterthought despite how crucial they should be to your decision. Especially in audit!

The audit software should provide robust application security to protect your audit data. Additionally, support should be the best in class. Do they have a knowledge centre? Detailed product videos? A diligent, helpful customer support team? Opportunities to upskill with platform and audit experts?

Data Security

Data security is paramount in audit software. The software should provide robust security measures to protect your sensitive audit data and privacy and personal data. This can include data encryption, user authentication, and access controls.

Customer Support

Reliable customer support is another crucial factor to consider. The software provider should offer comprehensive support to help you resolve any issues that may arise. This can include technical support, training resources, and a dedicated customer service team.

Are You Ready to Adopt Audit Software in your Firm?

Choosing the right audit software is a crucial decision that can significantly impact your audit processes. By considering the key features, usability, integration capabilities, security, and support, you can make an informed choice that meets your specific audit needs.

Remember, the best audit software is the one that best fits your business needs and helps you achieve your audit objectives efficiently and effectively. And it’s very often the one that has the least time-consuming learning curve. 

Interested in seeing why 500.000+ audit & finance professionals have chosen DataSnipper as their go-to audit software? Book a demo with an DataSnipper expert today

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