FMCG companies in India are facing greater scrutiny than ever, to deal with enormous regulatory compliances in India. On yearly basis many applicable compliance lists are updating. It causes difficulty in finding the eligible compliance for every company.

Avantis has found that such an approach to Compliance Management software for FMCG companies could be costly and ultimately, dangerous, its shareholders, and its employees. Prosecutions for non-compliance can impact business in a variety of ways, from direct fines, enforcement orders and even prison sentences for directors.

FMCG industry is the 4th largest sector in India. This sector is also popularly known as consumer-packaged goods and consists of consumables (other than grocery and pulses) that people buy at regular intervals. Food Products, Personal Care and Fabric Care are top three components of this sector by market share.

Click here to know more about compliance software for FMCG industry: https://www.avantis.co.in/case-studies/fmcg-industry-compliances .

Growing awareness, higher disposable incomes, easier access and changing lifestyles are the key growth drivers. Rural demand continues to contribute to double digit growth in this sector. There are several medium and large domestic and multinational players in this space. All of them have multi entity and multi-location presence across the country with complex operations and hence complex compliance environment.

Avantis completed end to end implementation of such a complex business group in 12 weeks. In less than 4 weeks, Compliance officer has much greater control over their organization’s compliance. He can identify risks and issues in real time and plan necessary interventions. His ability to provide assurance to his management has shot up significantly. There is greater visibility, transparency, and accountability in the system. The cost of poor compliances arising out of delays and missed compliances is likely to reduce by 80% in the first year.

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