Retail store audit functions, challenged by resource and budget limitations, multiple business locations, and regulatory reforms, are turning to technology to manage the often vast quantities of information associated with store audits. While audit software has been available for several years and offers a viable solution for managing the store audit process, some retail organizations are not ready to take the electronic leap. Staffing priorities, such as assisting with the implementation of new regulatory processes, annual audit projects and limited man-hours, as well as strained budgets, keep some internal audit, loss prevention or store operations functions from venturing into the electronic store audit world.
The current, traditional method of conducting store audits would benefit from an innovative use of technology. In current times, businesses are immersed in a significant regulatory environment and desire process efficiencies that both produce cost savings and improve effectiveness. As a result of this paradoxical environment, two opportunities have evolved to satisfy these needs: control self-assessment and the technologies that support this process.
Is an automated store audit solution really worth your investment? The answer to that question depends on many factors. Each individual company must explore its specific business priorities and the financial realities of the current audit process. Once a clear picture of the current situation emerges, the benefits and savings of an automated process also will become clear. This article provides details of three key benefits from audit technology: enhanced audit productivity, increased operational effectiveness, and improved reporting capabilities.
Download the full white paper:
(7 pages, 182 KB)