Auditors Knocking on the Door? How M-Files Can Speed Up Audits and Reduce Costs

Rowena Lamont • January 13, 2025

Introduction

Audit season. It fills many organisations with a sense of dread, involving countless hours spent gathering documents, responding to auditor requests, and managing the inherent stress of the process. However, with M-Files, audit preparation and management doesn’t need to be a painful experience.

Here are some ways M-Files can streamline audits, reduce costs, and alleviate stress for everyone:

1. Centralise and Organise Information: 
M-Files provides a centralised repository for all your critical documents, eliminating the need to search through various shared drives, email inboxes, or physical filing cabinets. This ensures that auditors have quick and easy access to the information they need, saving valuable time and resources.


2. Quickly Retrieve and Export Documents Matching Audit Criteria: 
M-Files’ metadata-based platform enables users to conduct criteria-based searching. Auditor wants all Incident Reports for the past 6 months? Run a filtered search and those documents appear instantly! Compared to trawling through complex folder structures and staff members' inboxes, time savings for responding to auditor document requests is where M-Files really shines for speeding up audits.


3. Automate Retention Policies and Compliance: 
M-Files allows you to automate document retention policies, ensuring compliance with regulatory requirements and internal policies. This eliminates the risk of accidentally deleting or misplacing critical audit documents.


4. Comprehensive Audit Trail: 
M-Files provides a complete audit trail of all document activities. This gives auditors full visibility into who accessed, modified, or shared each document, enhancing transparency and accountability. You can demonstrate compliance and quickly address any auditor inquiries regarding document history.


5. Streamlined Collaboration:
M-Files facilitates secure internal and external collaboration, making it easier to work with auditors and share relevant documentation. You can grant auditors controlled access to specific documents and track their interactions, ensuring a smooth and efficient audit process.


6. Reduce Costs and Increase Efficiency: 
By automating tasks, centralising information, and improving collaboration, M-Files significantly reduces the time and resources required for audit preparation and management. This translates to lower costs and increased efficiency for your organisation.


In summary, M-Files can transform your audit experiences from a dreaded chore into a streamlined and efficient process. By implementing M-Files, your organisation can ensure compliance, reduce stress, and free up valuable time and resources to focus on core business activities.

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