7 Ways M-Files Simplifies Audits

Managing data and documents is a crucial task for any business. For businesses in highly regulated industries, this task is even more important. Many such companies still use manual processes to file and organize compliance-critical documents. For these companies, audits become overwhelming and unbearably complex as their employees try to track down electronic—or even paper—documents stored in many different places.

Businessman with a checklist, business document evaluation process, to represent M-Files making audit process easier.

There’s a better way! A compliance management system such as M-Files can secure documents, combine many repositories into a single searchable system, and automate important procedures and policy enforcement. With a compliance management system in place, you can avoid the fines and liability issues that come with noncompliance. Audits are never easy, but with M-Files, you can simplify and streamline the process so your workers can focus on other important tasks.

M-Files simplifies audits by:

  1. Keeping every file secure.
    One fundamental part of an audit is assessing document security. M-Files keeps your data safe with document encryption in both transmission and storage. You can disable printing and downloading on certain documents—and even prevent screenshots from a mobile device. Going a step further, files that need extra protection, like those including personal information, can be sorted out in order to ensure GDPR compliance.

  2. Using AI to generate metadata for your documents.
    M-Files uses AI and user input to generate metadata for your documents. Metadata may include the author of the document, information about its content, what project it relates to, and workflow information. M-Files can even automatically assign metadata to documents in legacy archives. This enables a powerful search function: you no longer have to know exactly which document you are looking for in order to easily find it! When an auditor asks for documentation, M-Files allows you to quickly find the right file.
  3. Organizing your documents by what they are, not where they are.
    Most enterprise content management systems organize files in several different repositories, making it difficult to know where to find a particular document. In contrast, M-Files allows users to search all your business’s repositories at once. You don’t need to transfer all your files into one place—M-Files connects to your documents in your network folders, cloud storage, CRM, and more. Sometimes, an auditor may want all related documents to a certain project. M-Files has the solution: it creates connections between your documents based on their metadata, allowing your workers to find groups of related documents all at once.

  4. Managing users’ permissions.
    M-Files allows you to manage an individual user’s permissions so they only see the documents that are relevant to their work. You can also assign permissions based on user group or assign specific permissions to a role within your company. You can even assign permissions based on specific projects or any other metadata. An organized permission system will help you prove compliance to document security regulations.
  5. Allowing collaboration on one authoritative version of a document.
    No more emailing documents with names like “Document_v3_final_FINAL.” M-Files stores just one authoritative version of a document. Employees and other collaborators can access, edit, or comment on the document via a secure link. This feature helps you avoid the embarrassing mistake of sending an old version of a document to an auditor. 

  6. Saving revision history for possible audit trails.
    Because M-Files keeps only one copy of each document, it saves the revision history of each document. You can easily see when and by whom each change was made. You can also revert to a previous version of the document if erroneous changes are made. With this feature, you have an automatic audit trail through the document’s history. 

  7. Automating compliance processes.
    Once you have received recommendations or requirements from your auditors, M-Files can help you with your next steps. With M-Files, you can create standard workflows that include creation, review, edits, approvals, and signatures. It can even send notifications and reminders to relevant users. You can build new or existing compliance requirements into these workflows, immediately demonstrating action in response to the audit.

Learn More About M-Files

M-Files provides a next-generation intelligent information and compliance management platform that improves business performance by helping people find and use information more effectively. To learn more about M-Files, visit lamininsolutions.com or call 1-904-810-3299.