Businesses now have the choice of using labour compliance tool and automation software, which make it easy to manage statutory and regulatory requirements. In this post, we are discussing further on why and when automation is the answer to compliance 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.
Compliance in India is a serious concern of sorts for all businesses. There are over 58,000+ compliance requirements and over a thousand applicable Acts. Companies that do business across states and with global clients have a greater number of regulatory requirements to meet.
Compliance Management in India is Complex and compliance auditing software is become need in India, A mid to large sized customer in India deals with a few hundred Acts and a few thousand Compliances. These include Licenses, Registrations, Permissions, Consent Orders, Renewals, Returns, Registers, Payments, Remittances, Challans, among others. It can manage through the labour compliance software in India.
Keep in mind that a good solution should work within the framework of your business, and the developer/service provider should explain how their product can help your company in managing compliance better. Review all features before taking the final call.
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