For compliance with regulatory requirements or internal accountability, a precise document history is crucial. Without an accurate audit trail it’s difficult to demonstrate that you are complying with the regulations and avoiding fines for regulatory violations or even lawsuits.
Implementing an audit trail is simpler when you use a system that records and stores all of your documents. Paper documents are prone to human errors, is difficult to store, and is often lost or misplaced. Scanning and digitizing important records is the most effective method to ensure they are not lost. However it requires a secure storage system that permits anyone to access. A document tracking system with customizable permissions will ensure that everyone in the team has access to important documents.
A good document tracking system will log any changes made to the file, including who made the change and when. This is vital for documenting compliance with regulations and that your business follows strict guidelines.
An audit trail that is clear and concise is also useful in the event of a technical issue or a dispute over electronic documents. By providing a route for action an audit trail can help you pinpoint who may be accountable for the issue and help you swiftly solve the issue. The evidence can also be used as a solid argument in the event of a legal dispute to arise.