Why Statutory Compliance needs to go the Automatic Transmission way
Today is a call of tech-savvy generation, businesses statutory compliance needs to be driven by an automatic transmission system, just like any of the automated car.
There is an increasing prerequisite for companies to implement a compliance management system, as several companies are still struggling to migrate from traditional excel & paper-based system; also monitoring and, managing is confusing, at the same time a strenuous process
Here is the synopsis of the most vital points of compliance management process without which it is critical to run a risk-free business.
Questionnaire/ Compliance Checklist management
Need to have complete setup and maintenance of compliance audit checklist for every regulatory–based on the applicability of central/state/local Government for your business framework. The automation of a compliance audit process allows you to find a gap in the process which results in reducing the negligence and failure by initialing the right task. It ensures the standardization of the business process and provides consistent results.
Various types of audits are available and they may have different workflows. A Labour law compliance audit can give a clear view of the compliance status of the business. It helps to identify the issues and provide the appropriate compliance solutions. Ensure that your compliance management system allows you to control an audit in every stage of the work sequence.
A compliance software dashboard should be robust and secured. Only the authorized user of the partner/vendor is allowed to access the data, statutory compliance status, download of reports via the cloud base dashboard. This enables you to reveal all types of audit reports only to those who are authorized to access it.
Risk-aware compliance management
Compliance audit needs to be run frequently in the system for better compliance management. Classify your company Labour law audit reports based in according to risk priorities and your compliance management software must accommodate this by an automatic transmission.
Track, Trigger, and Monitor
The companies compliance management system should be competent enough to track, trigger and monitor the compliance tasks, such that compliance risks are mitigated, leading to risk-free business operation.
As mentioned above, a company procedure won’t be effective through a manual compliance process and, this might lead to non-compliance. An automated and robust compliance software with incorporated features to manage the critical compliance management process helps in accurate monitoring and tracking compliance status.
We at Aparajitha, India’s No.1 GRC partner, have built an inviolable e- compliance solution, Compfie.
Compfie is a very intuitive and easy to use e-compliance solution. It provides consistent functionalities, flexibility, and compatibility with a tailor-made user interface that caters to diverse industrial sectors. Enables you to handle the challenges of an ever-changing business environment and Government regulations with the utmost skill and ease technique like, 360-degree dashboard for complete corporate preview, risk exposure analysis & management, custom mapping, convenient allocation, internal & external task management, last-mile execution support, auto-generated reports, triggers on upcoming tasks, document management framework for compliance.
Take your compliance on an automatic drive to save your time, and become 100% compliant being at par industry standards with custom rules and regulations apply only to your organization.
When you look for a services provider for your corporate statutory process, look at their acquaintance in the industry, quality of services, and their success in providing compliance solutions to their clients. With over two decades of experience in last-mile compliance audit and implementation across 44+ Industries in PAN India, We are proven pioneers in the compliance industry. With our cloud compliance solution with an updated legal repository, we assure 100% compliance and risk-free business operation with an enhanced tech product to keep up to your digital transformation.
To know more about the statutory compliance services we provide and about our e-compliance solutions feel free to contact us at: