The use of audit management software assists businesses in streamlining their audit procedures and ensuring compliance with internal policies or external laws. This kind of software is utilized to create, put into action, and monitor auditing procedures for a variety of goals, including quality management, health and safety, and environmental protection, among others. The most common applications for audit management software are in highly regulated areas, including the food and beverage industry, health care, the pharmaceutical industry, and the chemical industry. Audit management solutions can be used by both compliance experts and operations managers to plan audits, look at the results, and report on what they found.
So, we have compiled some of the best audit management software
TOP 7 Best Audit Management Software
- TeamMate+ – Best for Internal Auditor departments
- Pulse- Best in cloud-based software that helps businesses
- EASE- Best inplatform manufacturers rely on to administer
- ZenGRC- Best established solution to elevate your company’s risk
- Strongpoint – Best in native solution for managing change and compliance
- Suralink – Best in helping accounting firms simplify the audit documentation
- Ncontracts– Best in integrated solutions encompassing the complete lifecycle of risk
1. TeamMate+ – Best for Internal Auditor departments
PRICING: Not provided by the vendor
TeamMate Audit is an all-encompassing audit management system that assists auditors as well as the leadership of audit departments in streamlining all areas of the audit process. Organizations all over the world have the ability to identify risks and generate assessment reports, generate and manage audits, schedule projects and allocate resources, record time and expenses, and track audits and issues using an advanced electronic working papers database.
KEY FEATURES:
- Mobile Access
- Issue Management
- IT Risk Management
- Legal Risk Management
- Internal Controls Management
REASONS TO BUY:
- Risk and control self-assessment
- Detail audit and evaluation work step
- Signing off work to relevant team member
- The convenience to upload files or evidences
- The application is web based and updates in real time
- TM+ is extremely customizable for SOX and audit teams
REASONS TO AVOID:
- Complicated working paper linking process
2. Pulse – Best in cloud-based software that helps businesses
PRICING: Free: $0.00 5 Users with One-Time Purchase, Basic: $12/ user/Month
By digitizing inspections, the cloud-based program called Pulse assists companies in a variety of sectors to meet their audit compliance and quality control goals. In addition to being able to function offline, the Pulse mobile app guarantees that all inspections are carried out in an organized manner and that the real-time data obtained from them provides valuable information for the development of new regulations.
KEY FEATURES:
- Forecasting
- Multi-Company
- General Ledger
- Cash Management
- Income & Balance Sheet
- Multi-Department/Project
REASONS TO BUY:
- The features are great and ease to use
- The interface is very good and easy to understand
- It’s useful tool to track down your daily routine tasks
REASONS TO AVOID:
3. EASE- Best in platform manufacturers rely on to administer
PRICING: It has free trials
Through the use of straightforward technology, Ease enables insurance brokers to provide improved service to their small and medium-sized business clients. Ease makes it easy to establish and administer benefits, bring on board new personnel, maintain compliance, and provide employees with one location for accessing all of their human resources-related information.
KEY FEATURES:
- Question Library
- Picture Annotations
- Mobile Auditing (iOS and Android)
- Audit Scheduling (Including by Layer)
- Advanced Offline Mobile Audit Support
- Customizable Dashboards and Reporting
REASONS TO BUY:
- Significant reduction in audit labor time and cost
- Unparalleled purpose-built user experience for plant floor audits
- Innovative mobile app (iOS and Android) with robust offline support
REASONS TO AVOID:
- sometimes it takes time to load all the filter information
4. ZenGRC- Best established solution to elevate your company’s risk
PRICING: Not provided by the vendor, Free trials is available.
ZenGRC provides a tried-and-true solution that will bring the risk management and compliance program of your firm up to the highest information security requirements. Your current GRC program is compatible with the cloud-based SaaS solution, which also adapts to serve as a guide for you as you go along your maturity roadmap. If you use ZenGRC as the central platform for your organization’s information security ecosystem, you will be able to do both continuous monitoring and effective audit management.
KEY FEATURES:
- ISO Compliance
- Issue Management
- Audit Management
- IT Risk Management
- Archiving & Retention
- Legal Risk Management
REASONS TO BUY:
- Auditors can use checklists for multiple processes, both online and offline
- It displays all the changes made during audits, including details such as username
- It creates and maintains a library of regulatory content for compliance purposes.
REASONS TO AVOID:
- The tool needs some enhancements and bug fix to add value for user friendly
5. Strongpoint – Best in native solution for managing change and compliance
PRICING: Flashlight for Nestsuite: Free for 90days, Strongpoint for Nestsuite: $1000/250users/month, Strongpoint for salesforce: $1000/250users/month
Strongpoint is the only solution that is entirely native to either NetSuite or Salesforce that can be used to manage changes and compliance in your organization. Our tools begin by providing precise documentation of all of the adjustments that have been made to your system, as well as the links that exist between those customizations.
KEY FEATURES:
- Audit Trail
- Change Tracking
- Release Management
- Compliance Management
REASONS TO BUY:
- Good technology for company audits and report management
- Captures and records all the changes and even places any reports for the task at hand
- It bring more clear documentation when retaining documents during audits and research
REASONS TO AVOID:
- It needs deeper database on the API integration and ticket system.
6. Suralink – Best in helping accounting firms simplify the audit documentation
PRICING: Start at $20/user/month
Suralink is the industry leader when it comes to auditing and software request list management. This software enables accounting firms to improve the customer experience while also streamlining the audit documentation process. Our cloud-hosted application combines a dynamic auditing request list and assignment process with a secure file storage platform to give customers access to a single portal that is easy to use and navigate.
KEY FEATURES:
- Fund Accounting
- Tax Management
- Project Accounting
- Forms Management
- Workflow management
REASONS TO BUY:
- Very simple to use
- Much more suitable for an audit engagement
- Ability to communicate with client through Suralink
REASONS TO AVOID:
• The process of switching from one engagement to another takes more steps
7. Ncontracts– Best in integrated solutions encompassing the complete lifecycle of risk
PRICING: Free trials available
A large number of financial organizations still use manual processes to manage risk and compliance. The departments don’t talk to each other or work together well, which could lead to large fines and penalties if the departments’ efforts fail. Ncontracts provides unified solutions that cover the entirety of the risk management lifecycle. These solutions address enterprise risk, vendor risk, business continuity risk, compliance risk, audit risk, and finding risk.
KEY FEATURES:
- Blogs
- Electronic Signature
- Employee Database
- Employee Directory
- Employee Photos
- Collaboration Tools
- Calendar Management
- Communication Management
REASONS TO BUY:
- Very user-friendly
- The annual vendor reviews and due diligence
- Ensemble is design elements, and the ability to easily link documents
REASONS TO AVOID:
- Lack of custom report writing options available to the administrator
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