You Are Losing Money on Inaccurate Audits

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There are a number of different reasons why the Quentic App is great addition to Quentic platform for incident management, investigations, auditing and inspections and risk assessments. It’s worth talking about auditing in more detail as it is a wide topic covering a lot more than work related safety issues. Even though protecting against harm in the workplace is at the very heart of Quentic, we’re also excited about helping companies with their auditing processes in different areas.

For many organisations, there is an increasing emphasis on auditing. In areas such as quality management, information security and brand related topics, there are many business processes where management wants to ensure that everybody is aligned with the company practice, policy and vision. However, many organisations don’t have a clear understanding of how much auditing they are doing and the costs of audits and analysis. These are real-life pain points for companies across the globe.

 

Mobile and tailored

 

Something that seems pretty obvious is that you can’t perform audits by just sitting on your laptop in the office. You need to go out there and observe the actual process, take pictures, evaluate it, and assign corrective actions to guide the people involved back to the right procedures. If you are of the opinion that it can be done on your laptop, it means you are likely to be losing a lot of money through inefficiency. This is a consequence of audit information being collected on paper and via a camera, with the data manually entered into a management system with corrective actions, distributed manually. It’s probably tripling the costs by conducting audits this way. Just think how much you could improve your bottom line if that money was actually invested in improvements to the auditing process?

Audit templates and checklists need to be tailored and well designed. I’ve seen cases where auditors go out on the field and just make notes without a structured checklist that covers collection of all the relevant data. They remember most of the things that need to be checked, but the quality of this approach is really inconsistent and it’s costing you money. So, the Quentic App auditing tools provide a visual editor that lets you build the audit templates and checklists that meets your needs to ensure all relevant things are covered. This way you can be certain about comprehensive recording of information and quality.

 

Corrective action management

 

This is something over which you need to have control if you want to see some real improvement. You need to assign corrective actions to the right people, follow them up and manage the process end to end until the issue is fixed. Without this, your audits are just Nice-to-Have management reports that don’t really help to improve things.

 

Audit reporting and analyses

 

Executive management - especially the CEO, CFO and COO - don’t have the time to go through all the audits. They need a real-time summarised view of the results to make the right management decisions so that the changes needed to support the future success of the organisation are implemented.

In this case, without a solution like Quentic it can be costly to have analysts and developers build complex spreadsheets or applications to summarise information. This creates room for human error in the programming as well as in data entry.

At Quentic we recognised this pain-point. Real-time data is automatically fed into the system and analysed and reported by the audit reporting dashboard. This removes manual data input from the process and gives a holistic picture of performance. You can also easily compare different business units and understand key performance indicators, such as why someone may be performing better than others. You can learn from this to improve best practice and improve performance across your organisation.

 

Conclusion

 

 I wanted to write this blog to get CEOs and CFOs thinking about the costs of auditing.

It might be a bit uncomfortable to think about it, but as leader with obligations to the shareholders of the company, could you

make a worse business decision than wasting money on inaccurate audits?

It’s a certainty your shareholders want to see the business be well managed and improving, rather than being driven by inaccurate information obtained from legacy and inefficient processes.

 

Tags: analysis, audits, blog, management, Mobile, reporting

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