Whether imposed by a government organization or an internal company directive, compliance regulations have a major impact on your business processes and data management. Complying with and easily auditing the data around these regulations can be a daunting task if not handled efficiently.
The Audit Trails and Electronic Signatures functionality of Microsoft Dynamics GP can help you improve your regulatory compliance while reaping these additional benefits:
Keep your database size manageable and clutter-free – If your business systems are tracking and storing history on too many processes, your database can become large and cluttered very easily. Instead, Audit Trails can be activated on just those areas of the system that are required by your regulators or business needs, enabling you to more easily maintain your database and report on the data it contains.
Improve data quality while saving time – Even if you are using tools like Microsoft Office Word or Excel, if you are using manual methods to fulfill compliance processes, you are losing valuable time, increasing your risk of errors and making accurate and timely reporting more of a challenge. When you use Audit Trails, your auditing processes take place automatically in the background, freeing your people to perform business processes more efficiently without having to stop to manually capture change history or enforce paper-based controls.
Meet data storage requirements easily – With Audit Trails, you can fulfill your requirements to store change history information for a given period of time both online and offline. You can also automate the process of moving data offline which saves time and reduces the potential for error. Audit Trails help you implement strict controls over your data and enable you to separate your change history from your live data which improves your overall data management while enabling you to meet requirements.
Efficiently retrieve regulated information – In order to provide information to regulatory auditors in a timely manner, it needs to be well organized and properly stored. The longer it takes to produce regularly requested data, the more skeptical of the data accuracy regulators may become, leading to costly and time-consuming audits. Audit Trails streamline your data processing, storage, and reporting functionality so that you can build the trust of regulatory auditors by delivering the information they regularly request quickly and correctly.
Enable timely preventative controls – If handled manually, preventative controls required to prohibit unauthorized changes to your business data can be a hindrance to productivity. Electronic Signatures automates the process for gaining approval or authorized signatures through alerts and enables online approvals that can be granted anytime and anywhere to keep business processes running smoothly.
While regulatory compliance requirements will never go away, the headaches they cause can with Audit Trails and Electronic Signatures functions in Microsoft Dynamics GP.
Contact your Socius Account Manager today to add this functionality to your current Microsoft Dynamics GP solution or get a Quick Quote of what a new Dynamics GP solution would cost your company to implement.