As a follow up to our last post about having a system of record to make audits seem like a walk in the park, there is more to it. Recall that a system of record document management solution holds the confirmed supporting documentation for your critical company data, such as, transactions, client accounts, vendor contracts, etc. If your current file storage solution is not working and you want to convert it to a system of record there are a few things that are required.
Like all good things, it will take some effort on the front end. But as we stated in the last post, it is well worth it. And the value is more than just having a better audit experience. Its worth it because you also have better information at your fingertips and that leads to better decisions. So what’s required? Be humble because you will likely learn that your organization is not perfect, be diligent and have some fun because you will discover nuggets of gold.