Governance, Risk & Compliance Ecosystem

Need For Compliance Ecosystem

Section 134(5)(f) requires the Board, to devise effective proper systems ensuring compliance with provisions of all applicable laws

Section 204 mandates the Board to offer explanation to each non-compliance and report it in its Directors Report (Sec 134(3))

Section 205 of Companies Act 2013, mandates the responsibility of Company Secretary to report to the Board, compliance’s of all the applicable Acts and its rules/ regulations

Consequence of non-compliance is a penalty of Rs. 1 Lac to Rs. 5 Lac per person involved, and/ or imprisonment, in addition to specific penalties defined under each Law/Act as applicable to the Organization

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Compliance Monitoring Tool

  • Web-based application
  • Industry specific laws mapped for monitoring
  • Unlimited users and multiple business units mapped
  • Meets the requirement of Company Act, 2013
  • User Friendly formats, pictorial representations
  • Escalation of non-compliance to top management
  • Documents uploaded, are encrypted before being archived
  • >98% utility factor makes it even more worth

Legal Diary

Litigation Management Tool

  • Monitors and assess risk and litigation exposure and progress of each case
  • Sends alerts on upcoming hearing dates
  • Cost analysis on each case
  • Brings in accountability of External lawyers and Internal handlers
  • Reports provide a detailed ‘Case History’ for each case
  • Top Management/ Legal Head can monitor risk exposure

Document Management

Document Archival & Retrieval Solution

  • Documents are encrypted and archived for maximum security
  • Supports user-defined access rights
  • Gives alerts for renewals
  • Optimized document search and capability to link documents
  • Useful for archiving licenses/ approvals/ IPR drawings/ agreements/ any statutory docs for all offices, factory, branches, etc

Event Based Compliances Compliances

Monitoring Business Events

  • Monitoring of Compliances related to pre-defined business ‘events’
  • Generate checklist of all compliances, covering various Laws/ Act related to business ‘events’
  • Triggering of Compliances to pre-mapped Users
  • Communication to Users through mail alerts
  • Graphical dashboard provides compliance status of incidents reported

Phase Based Compliances

Monitoring Project Phases

  • Project phases defined as, Planning Phase, Construction Phase, Pre-Production Phase
  • multiple projects with respective phases can be mapped and monitored.
  • Graphical dashboard business event provides project stage-wise
    compliance status
  • Compliances of external parties, like, contractors, consultants, etc can also be mapped and monitored

eCompliance SmarTab

Compliance Mobility App

  • First-of-its-kind mobile app for compliance monitoring
  • Download and Use using same User access linked to web-based eCompliance application
  • Interactive Graphs with drill-down feature, and various touch gestures for deeper reporting
  • Capability of generating and sending Compliance Reports from the device