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Making the Annual Audit Process Easy

We have the technology, we can make it better

If you’ve ever been on the receiving end of an audit, you know why most people generally don’t look forward to them. They are kind of a double-edged sword—they are designed to find flaws and mistakes (which you do want to know about), but then you have to go about fixing and resolving whatever issues they find. It’d be easier if you just didn’t make those mistakes in the first place, but those small concessions add up, things get missed, and people just forget sometimes.

If your company performs an annual compliance review, you know how quickly small items can suddenly become large issues that need corrected immediately. You might have accessibility flaws, security vulnerabilities, or software that’s out of date with the latest legislation. Even if you weren’t required to fix these problems, you’d still want to just to have clean systems and processes.

It can be frustrating though to see the same issues crop up year after year, and it can feel like a never-ending effort. You spend months in the review phase, months in the resolution phase, and then it’s nearly time for your next review again. Sounds like a highly repetitive, effort-intensive process that you’d love to offload somewhere else. So why haven’t you done that yet?

An AI doesn’t get bored, lose focus, or get sloppy. Which means you can prevent compliance issues before they ever happen.

It’s fairly easy to outline the rules and regulations your employees should follow. File all your receipts. Log your time in the system. Make sure all training is complete by the deadline. Get your paperwork accurately completed and submitted in time. As with most things though, stuff comes up and life gets in the way.

It’s hard to fault a person for missing something here and there. Humans tend to get complacent when doing tedious tasks over and over, and there’s always a demand on our attention for other things. Now multiply that by hundreds or thousands of employees across an organization and that’s why audits are necessary. But this is also the perfect place to implement an Artificial Intelligence (AI) solution.

With an AI supporting your back office, you don’t have to second-guess your work or wonder if something got missed—your AI checks and follows up, all day, every day. The best news is that since you won’t be creating new issues, you can focus on resolving any existing ones. And that’s how you get to state of always being compliant. Can you imagine your outside auditor finding no issues at all? It can happen; we’ve helped it happen.

Even if your AI is only implemented in a part of your overall system, it can still make reporting and identifying issues easy. You don’t have to dig across multiple systems, track down people and documents; your AI is doing that for you in real-time. If you do have to correct some items, you know exactly where they are and what needs to be fixed.

It’s pretty great to see people tell their employees that their department has zero compliance issues. It’s also a measure of success that other departments, competitors, and vendors place value in.  With AI in the equation you never have to dread the audit process again.

References

The National Law Review

Blog Author

By Brad Mascho
Chief Artificial Intelligence Officer, NCI