Why Has Digital Management Audit Gained So Much Hype?

Value Growth AuditManagement

Nov 7, 2020 (19 days and 17 hours ago)

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Digital Management Audit has so much attraction these days because it helps businesses to grow and plan easily for new strategies. Digital Audit helps in generating a better reports of overall business management and tells the owner what to do next, read about how it works.

Why Has Digital
Management
Audit Gained
So Much Hype?

valuegrowthaudit.com

Role Of Management
Consultants

Factors of
Digital
Management
Audit

Scope Of Digital
Management Audit

Key Functions Of Digital
Management Audit

Role Of Management
Consultants


Management consultants have always gone the
extra mile for helping the businesses.


Management consultants knew that with
digitalization and automation, they could reduce the
required man
-
hours while also developing a
medium which can be more accurate and inclusive.


Management consultants have been the initial
promoters and marketers to convince the
businesses to invest in digital management audit

Scope Of
Digital
Manageme
nt Audit

It has a broader yet more in
-
depth scope while assessing
and evaluating a business’s management. It takes into
consideration many financial and non
-
financial factors.
From top to lowest, all chains and levels of management are
assessed for the best results.



It takes the already set principles and policies of the
organization as a standard while even assessing for
complying with the current business, market, and
industry standards.



The management audit suggests the necessary
improvement and provides the alternate courses of the
actions for the same.

2015

2016

2017

2018

2019

40

30

20

10

0

Rise of

Management
Consultancy

The figure shows approximate rise of the industry of
Management Consulting Firms in the worlds and in India.

Fun Hacks | Marceline Anderson

Key Functions

Key Functions Of
Digital Management
Audit

Digital management audit has a broader scope. Overall the
scope of digital management audit is not too different from a
management audit:

Key
Factors

Efficiency Analysis

A business has many operations
to take care of, so doing them in
a timely and cost
-
effective
fashion is important.

Growth
-
Weakness
Analysis

The SWOT analysis is an internal
assessment of a business’s
strength, weakness,
opportunities, and threats.
Internal and external variables
like the product, market, teams,
departments, and more.

Variance Analysis

This is done in economics and
stats to understand how much
variability is there in data.

Decision
-
Making

Apart from just stating the
problems, providing alternative
courses of actions is also
important when solving a
management problem.

Helpful
Resources

Read the detailed blog on
Value Growth

Audit.

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