How Audit Logs Can Benefit Your Firm

audit logs

Audit logs (also known as an audit trails) are a chronological record used to automatically document security-relevant user behaviors on a network. Audit logs might detect when a user has logged on, when they accessed a particularly important document, or how long they viewed that document for.

Having access to these detailed reports can be critical when performing an audit, completing a merger or acquisition, sharing highly sensitive financial data, brokering deals, or storing confidential employee information.

Listed below are a few key benefits to using an audit log:

Enhanced Security

Having an audit log can help ensure that sensitive information is being viewed in an appropriate manner and fashion by users who are permitted to access it. Imagine a scenario where one user has been viewing a particularly critical legal document for an extended period of time. Prior to having an audit log, there would have been no way to address this potential security issue before it was too late.

Service Reliability

With the implementation of an audit log in your practice, both clients and employees alike can feel safe in sharing their detailed information and other relevant documents. Having a full record of what’s been viewed, who’s viewed it, and how long it’s been viewed means that business partners can trust in your service rather than constantly watching their backs.

Audit Logs & Compliance

Audit logs can serve as evidence that an organization has been working in compliance with the mandatory regulations and federal laws. They can also be used as evidence for the adherence to specific industry standards, whether you’re working in Accounting or M&A.

Boosted Efficiency

With the ability to view all the detailed information regarding a system’s activity, firms can gauge the separate interests of their potential business partners. Information such as client pain points and priorities can be detected before the firm ever needs to be informed. This also applies to existing clients and any issues or needs they might have. Knowing in advance means your service can work ahead of the competition in closing the deal.

Audit logs are being used in virtual data room services to provide detailed information on the documents being shared across the system.

Read more about how V-Rooms provides audit logs to all clients looking to share documents in a secure and collaborate environment:

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