It is not uncommon to see compliance management solution operate in ad-hoc, people dependent and paper-based environment. While the Companies Act, 2013 makes board and management liable for non-compliance, most organizations do not have the right tools, processes, and human capital to stay on top of their compliance program. Digitizing compliance tracking is the first important step in this journey.

India is not an easy place to do business. The Make-in-India initiative is a strong component of raising growth and is focused on making India a global manufacturing hub. However, setting up a manufacturing facility in India is heavily front loaded with getting permissions, licenses, registrations, and consent orders.

What are the Different types of Compliance Management entities involved?
• Audit Management
• Compliance Management
• Risk Management
• Policy Management
• Incident Management

Digitization holds the key to transparent, accountable, and timely compliance program. The power of Cloud, Mobile, Analytics, AI & ML are transforming business processes. There are digital platforms available today for less than the salary of a junior compliance officer. A typical organization can come on-board such a platform in 3-4 weeks.

The multiplicity makes compliance, deterrence, and effective enforcement almost impossible. The administrative overhead increases, due to duplication in filings and returns, maintenance of registers etc. Small companies with limited resources find that this regulatory cholesterol works as an effective barrier to growth and scale.

So, what should you really expect from the best is compliance management software? We look at the basics below. Call us at 8893594595 for details or write to us at www.avantis.co.in to schedule a demo.