How to Reduce Paper & Archive Storage in Compliance Audits

Introduction

Many CEOs, COOs, and Executives struggle with the volume of paper in their offices. Paper has always been a necessary tool for communications, but has become less important with technological advancements. If you struggle with managing paper files and wish to make your compliance audit process easier, this blog post is going to help!

In today’s digital world, it’s easier than ever to digitize documents and neatly store them on computers. The first step to reduce paper and archive storage is to look at your different regulatory requirements. For most regulated businesses, these regulatory requirements include:

• Documents
• Trainings
• Memos

Document Approval Tracking Software

The first and easiest way to reduce paper and archive in your compliance audit process is to keep all your documents in digital format. Throughout the year, you use a variety of documents such as contracts and reports.

Employees usually need to complete these documents on a recurrent basis to provide timely updates. By using an audit management software such as Nabu Pro, you can upload documents directly onto the cloud-powered platform and receive an electronic certification that a document has been submitted, or that a communication has been read.

When you proceed to the identification of regulatory obligations, check which documents require approval and take note of the approval time windows. Depending on your compliance requirements, it may be greatly advantageous to use a platform like Nabu Pro to automatically monitor status updates and deadlines.

Compliance Management System

Why are audit management software so critical to reducing paper and archive storage? That’s because they use simple systems! It’s one thing to reduce paper and archive storage, but if you need to save everything on your company’s hard drives, that’s not a whole lot better. With Nabu Pro, you don’t need to store it on your own computers as we use cloud storage.

A compliance management system needs to be central, automated, and uncluttered. That’s why many audit management software aren’t adequate for most businesses. A good audit management software includes:

• Comprehensive and centralized solutions, such as a document management software (DMS), learning management software (LMS), and communication management software (CMS);
• Cloud-based storage system, so as to keep companies from losing data, getting confused, and using their own electronic storage;
• Universal availability allowed by a web-based app which maximizes accessibility for users on all operating systems and devices.

Creating Assessment Reports

Creating assessment reports becomes much easier with electronic documentation to support regulatory compliance. As audits comprise multiple requirements and encompass various departments within a company, it’s important to avoid using paper documents as much as possible. The more physical documents, the greater the risks of non-compliance. After all, they are much easier to lose.

Ideally, when you create your assessment report, you want to access all the information you need in one place. That’s what an audit management software does. By showing you all the information you need when you need it, you can easily collect and assemble the pieces of evidence necessary to show regulatory compliance in your business. Better yet, the Nabu Pro platform allows supervisors to generate PDF reports summarizing the compliance status of any item or user in a few clicks!

Nabu Pro’s goal is to make regulatory compliance a routine, not a problem. Too many businesses struggle with developing a solid, consistent regulatory compliance process. With Nabu Pro, businesses no longer need to spread themselves thin with all kinds of compliance solutions. Nabu Pro replaces every other solution.

Contactless Solution for Remote & Mobile Workers (How Nabu Pro helps you in a post-pandemic context)

At Nabu Pro, we know that COVID-19 has made doing business much more difficult, especially in regulated industries. As such, we’ve made sure that our platform helps clients follow the best practices in a pandemic context. Our software helps businesses to:

• Keep a 2-meter distance between individuals;
• Avoid sharing of physical documents and memos;
• Remain close to your staff and operations, even at a distance;
• Remain accessible, anytime, anywhere.

Cloud storage technology makes life easier for business leaders not only in normal times, but in times of crisis as well. As a customer-centric company, we at Nabu Pro keep our operations and product flexible to meet businesses’ needs as they change with unexpected events.