www.dataescape.com/audit-trails-and-document-tracking
The provision of audit trails and tracking of documents is one of the best methods to ensure transparency, accountability and ensure compliance with standards of regulatory compliance. The method you choose to store your documents can make a big difference in the efficiency of tracking document activity. Paper is not reliable and even digital storage can be difficult to organize and find when you require it. Choosing an online document management system with powerful features like audit trails is key to creating and maintaining reliable records of who, what, when, and where to make every change to your documents.
Using an audit trail to monitor document activities can aid in improving your workflow, make faster decisions, and pinpoint bottlenecks in your processes. For instance, audit trails can identify a lengthy wait for a document to be read or signed by a team member which is an opportunity to review your processes and implement changes to increase efficiency.
In many industries, audit trail is a requirement for regulatory compliance. By demonstrating conformity to regulations with clear and concise evidence, organizations can avoid costly infractions.
A solid audit trail should include timestamps, user identifications, and descriptions of actions to provide a comprehensive record of each document’s status and who was responsible for them. This level of detail encourages transparency by identifying who is responsible for any errors or unauthorized modifications. Furthermore, it helps stop fraud by allowing investigators to track any suspicious action.