AUTOMATING COMPLIANCE AMIDST A GLOBAL PANDEMIC
~ Aparajitha joins 3W Consulting in addressing a major Industrial concern ~
Chennai, September 09, 2021: Aparajitha Corporate Services Private Limited, India’s no. 1 company for Compliance and 3W Consulting – one of top Srilanka’s consulting firms, organized a Global Compliance Webinar on how technology can help bridge several Compliance gaps, especially during the pandemic times when physical movements are largely restricted.
The virtual session was about understanding compliance management, the role technology can play in transforming compliance, and the importance of compliance digitisation as an integral part of any organisation’s ethics and culture.
Speaking on the importance of the session, Mr. Nagaraj Krishnan, Managing Director, Aparajitha Corporate Services Private Limited said, “With increased regulatory changes and the ‘new normal’ brought forth by COVID-19, Corporate Compliance is all set to become a little more challenging than it used to be earlier. One major trend to watch out for in 2021 will be the substantial increase in digital transformation in terms of automation and simplification of compliance-related processes. Technology in compliance management can immensely aid in keeping organizations compliant. In and after 2021, businesses will need to adopt a holistic approach by aligning the compliance strategy into the overall business strategy.”
Aparajitha expanded its international offering of ‘Compfie’, its Global e-Governance and Compliance Platform across APAC and EMEA, in 2020 and collaborated with 3W consulting for their 1st ever country partnership in Srilanka.. Compfie is an online Compliance Management Tool on a cloud platform, designed to global standards with a combination of sector/industry-specific knowledge, compliance metrics within the legal framework & policy standards of the region. Technological insights uniquely position team Aparajitha to work with organizations to achieve end-to-end digital transformation
Compliance-related aspects discussed in the session included:
Accommodating compliance requirements of multiple domains for multiple countries
Identifying the critical risks and helping devise plans to mitigate compliance risks
Capturing all amendments / new enactments as and when enforced
Precisely determining the applicability of statutes for each industry type; and
Streamlining the audit performing process by eliminating paper records
“Any e-compliance architecture needs to be designed to provide complete visibility and a bird’s-eye view of the compliance status across the country, state, and unit levels. It is equally important for experts to provide round-the-clock support in updating country-wise Industry-specific laws and auto-configuring the software with an appropriate domain covering laws under Labour, Fiscal, Corporate, Commercial, EHS, and industry-specific catering to large global organisations, medium and small firms,” adds Krishnan.
Using technology, several organisations have reduced their missed compliance by over 90 percent, and penalties by over 95 percent. Digital apps have made key processes transparent, accountable, and timely. Software-based solutions have helped manage repetitive and non-value-adding activities, saving both time and money.
About Aparajitha
Incorporated in the year 2000, Aparajitha Corporate Services Private Limited is today India’s No.1 Company for Regulatory Compliance. With a presence in all the states and union territories across the country, Aparajitha now is well recognised as the Pan-India expert in dealing with the complexities in Labour Law and Industrial Law compliances for 1500 plus corporates, including Start-ups to Industrial Giants to Multinational Companies to reputed Corporate houses across 100 Plus Industries.. Aparajitha’s cost-effective solutions are designed and monitored by 1300 plus compliance experts to address all the current and future compliance requirements of organisations. The operations and services are guided by professionalism and principles that stem out from Aparajitha’s core values and business ethics of integrity, trust, continuous learning, and partnering progress. The company’s goal is to build enduring long-term relationships with its clients by partnering with them for mutual growth and benefit.
