When it comes to managing a company, keeping track of its financial records is a must. While performing self-audits isn’t always the most fun, it is a necessary part of the job. Good managers and business owners should be able to efficiently keep track of internal financial statements. This is done in order to keep the company audit-proof and ready for an outside investigation. The goal of audit-proofing your establishment is to prevent it from auditing blunders and further issues in the future.
Digital Auditing Versus Traditional Auditing
Many business owners and investors in the healthcare industry are used to traditional methods of auditing; however, we have seen a digital transformation take place in regards to how audits are conducted. Digital technology has made it so that audits can be performed without tedious manual processes. Digital audits employ data analysis and work automation to neatly organize financial information for easy viewing. Digital technology also has tools that can create large data sets rather than small samples. For business owners, investors, and auditors, digital auditing is a much more streamlined process than going by the traditional method.
How to Audit Proof a Company
Auditing usually involves an examination of the company’s financial records, such as bank statements, management accounts, employee payrolls, invoices, receipts, and tax returns. The best way of organizing your company’s financials is by setting up a system that documents this kind of data. Having some sort of system in place will ensure an easy and efficient process for auditing. You could hire an accountant or a bookkeeper for this purpose, or you could use a business management platform.
How DCI’s Business Management Platform Audit-Proofs Firms
Direct Care Innovations has designed a management platform that makes it incredibly easy for businesses to become audit-proof. The DCI business management platform collects relevant information in a complete, accurate, and business-compliant manner. This platform contains features that deal with billing information, payroll tracking, and other tools to help the company keep its financials organized.
For example, the DCI Time and Attendance Module has an auditor portal, allowing auditors to easily access and examine the internal occurrences within the company. This module can seamlessly integrate with current payroll and accounting systems, or it can be used independently. The DCI Training Module looks at whether staff members and trainees are complying with the guidelines set out by supervisors of a company. The system keeps workers accountable by monitoring the time and the training process of workers.
Ultimately, a management platform like DCI will help in sorting out your company’s financial bookkeeping. Direct Care Innovations has designed a platform that takes the work out of paperwork.
Contacting DCI For a Consultation
Here at Direct Care Innovations, we provide consumers with the tools needed to efficiently run their organizations. In addition to payroll tracking and accurate billing tools, our services include scheduling, authorization management, and much more. DCI’s goal is to transform the way people do business for the better. Interested in learning more about our company & services? You can request a demo from Direct Care Innovations by filling out this form. You can also contact us at (480) 295-3307.Tags: Audit, Audit-Proof, Auditing A Business, business management platform, Digital Auditing, Going Digital, healthcare, Module, Traditional Auditing