In a world where cyber-attacks and data breaches are becoming more common, internal audit has become an increasingly critical function in organizations. Internal auditors play the critical role of being the third line of defense, helping to identify risk and mitigate it before it causes damage. However, to do their job effectively, internal auditors need access to effective audit management software.
This article features ten of the best audit management software solutions available in 2022. So, if you’re looking for the ideal audit management software for your organization, read on.
What is Audit Management Software?
Audit management software is a tool that helps organizations manage their internal audit process. With this tool, internal auditors can streamline their work, improve efficiency and reduce the risk of errors. Audit management software typically includes features such as audit planning, scheduling, execution; risk assessment; and reporting features.
10 Best Audit Management Software in 2022
There are various options available in the market when it comes to audit management software. However, this year, we identified the ten audit management software in this list as the best of the best.
MetricStream Audit Management
MetricStream Audit Management is a strategic, flexible, and supportive solution for comprehensive audit management. It helps audit committees and audit teams drive audit programs that improve organizational performance and mitigate risk. The software is designed to meet the needs of organizations of all sizes and complexity.
MetricStream’s key features include:
- Audit planning
- Issue management
- Risk assessment
- Compliance management
- Comprehensive dashboard
Intelex Audit Software
Your business will need streamlining, planning, and well-organized audit reports to function smoothly. Intelex Audit Software offers all of these convenient features and more! With Intelex, you can store, manage, and centralize your business data. With its easy configuration and flexible features, you can easily conduct audit processes. At the same time, you can also generate real-time reports and present summarized information for a convenient and intuitive dashboard display.
Intelex’s key features include:
- Audit planning
- Compliance management
- Risk assessment
- Issue management
- Comprehensive dashboard
MasterControl Audit Management
For enterprise-level quality management solutions, MasterControl is a top audit management software that you should try. It helps businesses automate and streamline their audit processes while maintaining compliance with quality standards. With MasterControl, you can reduce the time and effort involved in preparing and conducting audits. MasterControl ensures quality and safety across your audit processes by providing a complete audit trail.
MasterControl’s key features include:
- Risk assessment
- Compliance management
- Internal controls management
- Issue management
- Comprehensive dashboard
Benchmark ESG
Formerly known as Gensuite, Benchmark ESG is your ultimate partner in environmental, health, and safety (EHS) compliance and management. It is a web-based EHS software that helps manage audit programs, EHS compliance, and corrective actions. With Benchmark ESG, you can assure compliance with EHS and minimize the potential risk factors. In addition, it also allows organizations to deal with all the complex challenges in an easy and effective manner. Benchmark ESG is responsible for providing solutions such as security, responsible sourcing, product stewardship, and asset management.
Benchmark ESG’s key features include:
- Compliance management
- Issue management
- Risk assessment
- Multi-year planning capabilities
- Comprehensive dashboard
SmartSolve
SmartSolve is an expert at simplifying your audit planning and management processes. It is an audit management software that helps you be proactive and prevent risks before they occur. SmartSolve is a comprehensive audit management system equipped with amazing features that boost auditor productivity. This tool makes it easy to extend, tailor, and integrate the process in accordance with the scheduled demand. SmartSolve also streamlines workflow by reviewing audits, performance flexibility, and allowing resync with your enterprise from remote locations that don’t have network connectivity.
SmartSolve’s key features include:
- Audit planning
- Issue management
- Compliance management
- Risk assessment
- Comprehensive dashboard
LogicManager
LogicManager is a top-of-the-line SaaS ERM software with top-notch customer support. This software helps prioritize goals, empower document control, comply with operational objectives, and collect actionable information. With LogicManager, you can create custom reports, deliver engauging presentations, and audit your progress. The software is also user-friendly and can be easily integrated into your business processes.
LogicManager’s key features include:
- Audit planning
- Alerts and notifications
- Compliance management
- Issue management
- Risk assessment
- Workflow management
- Task management
- Comprehensive dashboard
Onspring
Onspring is a cloud-based audit management software that can help elevate your company’s performance by fully controlling your internal audit process. This user-friendly software has a simple and easy-to-understand interface that aligns audit plans to help manage workflow. At the same time, it also helps manage work papers, review notes and findings, and mitigate significant risks involved in these processes. With Onspring, auditors can deliver smart reports and manage audit projects in a more efficient and effective manner.
Onspring’s key features include:
- Alerts and notifications
- Asset tracking
- Audit planning
- Comprehensive dashboard
- Compliance management
- Forms management
- Issues management
- Mobile Access
- Risk Assessment
- Task management
- Workflow management
AuditBoard
AuditBoard is a comprehensive audit management software designed by auditors for audit professionals. It is a web-based software that helps audit teams be more efficient and effective in their work. AuditBoard’s simple interface enables audit teams to manage their audit projects, work papers, and findings in a more streamlined manner. This software also allows users to collaborate in real-time and audit the cloud.
AuditBoard’s key features include:
- Alerts and notifications
- Audit management
- Compliance management
- Comprehensive dashboard
- Exceptions management
- Internal controls management
- Issue management
- Multi-year planning
- Risk assessment
TeamMate+ Audit
TeamMate+ Audit is a streamlined user interface that helps audit teams to manage their audit projects more efficiently. This software is equipped with powerful features that enable audit teams to collaborate, share work papers, and audit in the cloud. TeamMate+ Audit also allows users to create custom reports, deliver engauging presentations, and audit their progress to implement an efficient audit management system that suits the changing demands of today’s technological landscape.
TeamMate+ Audit’s key features include:
- Alerts and notifications
- Audit planning
- Comprehensive dashboard
- Mobile access
- Issue management
- Risk assessment
- Task management
- Workflow management
DATAMYTE
DATAMYTE is a comprehensive quality management software that provides various solutions for improving the quality of operations for any business—including audit management. With DATAMYTE, you get access to relevant software and tools that will help you streamline your audit management needs and other areas that might need improvement in your organization.
The key feature that makes DATAMYTE an ideal audit management solution is the DataMyte Digital Clipboard—our workflow automation software that gives you access to the following capabilities:
- Audit planning
- Comprehensive dashboard
- Mobile access
- Audit management
- Issue management
- Risk assessment
- Workflow creation and management
- App creation
- Task management
- Internal controls management
- Exceptions management
- Compliance management
- and more!
Conclusion
If you’re ever in the market for audit management software, be sure to consider one of the options on this list. While all the audit management software on this list may have similar quirks and features, they also have key differentiators that might better suit your organization. So be sure to consider your organization’s specific needs when making your decision. And if you want to consider DATAMYTE and its products, check out our website now!
