98% of Financial Institutions Believe Electronic Audit/Exam Preparation is a Good Investment

PUEBLO, Colo. - Nov. 10, 2014 - PRLog -- A recent study by the document management software company AccuSystems shows that audit and exam preparation continue to be significant pain points for financial institutions. Many institutions cited the amount of time required, duplication of effort, regulatory concerns, finding the necessary documents, and the effort required to prepare for audits and exams.

Surveying 187 community banks with combined assets of over $70 billion, the study found that over 91% of institutions stated that it would take a minimum of five hours to prepare for an external audit or exam.

With regard to document management, 98% of respondents believe that a document management system that offers electronic audit/exam preparation is a wise investment.

“The study indicates there is still a lot of room for growth,” says Alan Wooldridge, Co-President of AccuSystems, LLC. “Each day, we encounter new clients who are looking to get more from technology. Financial institutions can become more efficient by implementing a more comprehensive system, such as AccuAccount.”

To download the full report, visit: http://go.accusystem.com/audit-exam-prep/

To schedule an interview with AccuSystems, please contact Alan Wooldridge, Co-President, by dialing (800) 950-2550 or visit http://www.accusystem.com.