An organsation is engulfed in an internal & external environment. The forces of business environment focuses on safeguarding the interest of stakeholders of the organisation. In todays business scenario , many regulatory authorities are closely watching these businesses to ensure that they adhere to the statue so as to protect the stakeholders from the consequences arising from any kind of inefficiency or leakage that may be caused due to non-compliance .
Management of compliances or compliance task is not merely a process of rushing through regular compliance requirement . Challenges faced by corporates -
- What is the applicable law on your organisation ?
- When is the due date of compliance ?
- Who is the responsible person in my organisation for completion of compliance or task ?
- How do you analyse the performance of a employee ?
- How do you collect reports for status of compliances from different departments &locations ?
- How do you get assurance of completion of a compliance or a task ?
- How do you manage the documents of compliance completion ?
Risk of non-compliance
- Heavy penalties due to non-compliance
- Undue harassments to key management & officers in charge
- Focus gets shifted from business development & expansion
- Other negative turbulence
A unique and comprehensive solution for compliances in your Industry. It offers great value in tracking and monitoring all your statutory and internal compliance related issues. Through ComplianceMantra, you get the MIS reports, thus enabling you to have accurate and real-time status of every compliance.
Who need Compliance Mantra ?
Any organisation which is governed by the laws. Every business have to adhere to a set of statutory & internal laws, regulations, acts, circular, compliances, task, etc.
How do you ensure in one page that several tasks under the various laws have been complied
Compliance Mantra not only helps you to have global view of all compliances but also facilitates task management, document management, reminders, alerts and notifications. Compliance Mantra is web based tool that helps to plan , schedule ,
allocate , complete & review the compliances . Compliances can be
statutory compliances covering tasks required under different laws
to be abide by the organisation or they can be administrative or an
internal compliance of the organisation . The web solution apart from
compliance management helps in task management , document management
& is an apt reminder program. Further, it aids the customer in managing risks and generating awareness with regard to new legislation. Therefore an effective CMS tool ensures compliances with applicable laws, regulations, and guidelines while also detecting instances of non-compliances and. facilities taking corrective measures.
1. Statutory Compliances - based on industry, segment, locations, events, structure or sector various laws govern the organization. such as
General Laws - Corporates laws, Taxation laws, Industrial & Labour Laws, Property laws, Environmental laws, Factories Act.
Events Based Laws - Intellectual Property law, Custom Tex Law, Foreign Exchange Laws.
Sector Specific Laws
Segment Wise Laws - FMCG, Engineering & Construction, Tourism & Hotel, Agriculture and Food Processing, Infrastructure Power and Telecom, Capital Goods, Drugs, Pharma and Healthcare, Textiles.
State Wise Laws - Labour Welfare Act, Shops and Commercial Establishment Act, Nation Festival Holiday Act.
2. Internal Compliances -
Submission of Reports & MIS to seniors and management.
Timely payments of installments of loans, insurances etc.
Renewal of various licenses.
Using as a centralized depository for common documents.
Hence Compliance Mantra enables the organizations right from the user level to top management level to be in full knowledge & charge of the organizations compliance management there by giving satisfaction at user level, Peace of mind at management level, trust & confidence at stakes holders level.