Contenu connexe Similaire à LexComply - Compliance Software India (20) LexComply - Compliance Software India2. Challenges in Managing Compliance Ecosystem..!!!
Business Complexities, legislative changes, dependencies on external vendors have increased need for a robust system
• Large no. of legislations - Central
States & Municipal
• Multiple Regulators
• Multiple business locations
• Industry Specific Guidelines
• Multiple Vendors, Contractors &
Service Providers
DIRECT COMPLIANCE
Applicability of law changes with
every small change in:
• Nature of company
• Business, locations
• Product & Services
• Introduction of New Laws
• Notifications , Circulars
EVOLVING LEGAL ENVIRONMENT
• Lack of awareness & ownership
• Loosely defined responsibilities
• Segmented initiatives
• Process & process owner change
• Event Based Compliance
INTER DEPARTMENTAL COMPLIANCE
• Periodic reports to Board
• No Standardized formats
• No validation of reports &
compliance proofs
• 1,000s of compliance / year
• Retrieving previous years data
COMPLIANCE REPORTING
License
Revocation
Heavy
Penalties Imprisonment
Loss of
Reputation
Employee
Attrition
COMPLIANCE - A Common
Worry for Board & CXO’s
1 2
3 4
3. The Changing Governance Landscape
Recent Changes in The Companies Act have brought in a compelling need be watchful of compliance obligations
© RSJ Lexsys Pvt Ltd. All Rights Reserved3
Sec 204, Companies Rules 2014
Secretarial Audit Report mandatory for:
• Every listed company and
• Public company with > INR 50 Crore paid-up capital
• Public company with > INR 250 Crore turnover
Clause 49 (II/D/3)
Board is to periodically review compliance status reports on all laws applicable to the
company as well as steps taken by to rectify instances of noncompliance
Section 205 (1)
Company Secretary shall report to BoD, status of compliance under all applicable laws
Section 134 (5d)
BoDs to declare following in Directors’ Report :
• Devised proper systems to ensure compliance with provisions of all applicable laws
• Ensured such systems were adequate and operating effectively
Increased Penalties for Non Compliance
• Company: Min - INR 50,000; Max - INR 25,00,000
• Officer in Default: INR 50,000 to INR 500,000 or Imprisonment or both
• PCS who wrongly certifies: Min fine - INR 1,00,000; Max - INR 500,000
The Companies Act 2013
have brought in many
changes in contrast with
Companies Act 1956. The
reporting and
responsibility matrix
have not only been
clearly defined, the penal
provisions have become
more stringent.
4. Overview – Lexcomply Compliance Management Solution
Manage regulatory risks across ecosystem through Single application
5. © RSJ Lexsys Pvt Ltd. All Rights Reserved5
State & Central Acts
430+
Unique Compliance
22,700+
Corporate Actions
1,050+
Legal Libraries -
Acts & Compliance
Compliance Filing Forms
5,000+
Act Related Docs
12,500+
Legislative Updates
4,500+
Compliance Categories
Monetary
Impact of Non Compliance
Imprisonment
Operational
High
Criticality Levels
Solution Overview - Compliance Management
India’s Most Comprehensive Compliance Management Solution having detailed coverage of every compliance
LowMedium
One Time < 1%
Recurring ~ 7%
On-Going ~ 50%
Event Based ~ 42%
Key Indicators for
Proactive Risk Control
6. Companies Act, SEBI, Import & Export, Benami Transactions, etcSecretarial
GST, Income Tax, Excise, ECB, MSME, FDI, Anti Money Laundering, Expenditure
Tax, Luxuries Act, Conservation of Foreign Exchange, etcFinance
PF, ESIC, PT, LWF, Gratuity, CLRA, Foreign Labor, Minimum Wages, Equal
Remuneration, Sexual Harassment, Employment Exchange, etcHR & Labour
Environment, Water, Air Protection, Noise, E-Waste, Plastic, Hazardous, Bio
Medical Waste, Fire Safety, Explosive, Gas Cylinder, Petrol, etc
Environment,
Health & Safety
Factories Act, Shops & Establishment, SEZ, EOU, Motor Vehicle, Quality
Control, etcCommercial
IT, Legal Metrology, Design, BIS, Trade Mark, Consumer Protection,
Advertisement, FSSAI, Competition, INDUSTRY SPECIFIC ACTS, etcOthers
Legislations covered in Compliance Solution
Brief list bifurcated function wise – Covers Central Acts, State Acts & State Rules wherever applicable
© RSJ Lexsys Pvt Ltd. All Rights Reserved6
7. Key Features - Compliance Management
Users level controls, flexibilities to map group companies, vendors, service providers, contractors & many more.
© RSJ Lexsys Pvt Ltd. All Rights Reserved7
Comprehensive checklist covering all
regulatory compliance applicable on
a organization:
• Registrations/ Licenses
• Registers
• Filing/ Returns/ Dues
• Intimations/ Modifications
• On-going Check List
• Event Based
Compliance Check List
• Act Library - Act Documents,
Amendments, Notifications, etc
• Compliance Brief - Applicability,
Penal Provision, Key Definitions,
Exemptions, Filing Forms
• Link to govt & useful websites
• Changes in compliance definition
archived for reference during
audits & inspections
Comprehensive Coverage
8. Key Features - Compliance Management
Users level controls, flexibilities to map group companies, vendors, service providers, contractors & many more.
© RSJ Lexsys Pvt Ltd. All Rights Reserved8
• Configure Multiple Legal Entities
• Centralized Access Control
• Bring compliance ecosystem together
• Deptts, Locations stakeholders
• 3rd party, Vendors, Service Providers
• Reallocate responsibilities on role
change, attritions, long leaves
• Define compliance HOD, Approver,
Owner & Management Users
Compliance Organogram
• Upload multiple Compliance Proofs
& documents against a compliance
• Single Click search for document
proofs - Act wise / Location wise /
department wise
• Download multiple documents in
single click
• Provide ad-hoc controlled access to
users during audits & inspections
• Upload past data & documents
Document Management
9. Key Features - Compliance Management
Users level controls, flexibilities to map group companies, vendors, service providers, contractors & many more.
© RSJ Lexsys Pvt Ltd. All Rights Reserved9
• Corporate Event Management
• Pre & Post event compliance
generation
• Auto-allocation to users
• Enables advisory for corporate
decision making.
• Auto populated compliance calendar
• Relevant Compliance, to
• Relevant stakeholders @
• Relevant time with reminders
Compliance Advisory
• Real Time reports & dashboards
basis 15+ parameters:
• Entity / Location / Department
• Act / User / Approver
• Status / Criticality, etc
• Automate compliance status
reports for key users with relevant
coverage at set frequency
• Access to Auditors, Directors, CXOs
• Accessible through mobile
Control Risks
10. © RSJ Lexsys Pvt Ltd. All Rights Reserved10
Geographical Reach
Americas
United States of America
Canada
Latin America
Argentina
Peru
Mexico
Brazil
Portugal
Europe
Czech Republic
Slovakia
Sweden
Romania
Poland
Netherlands
France
Finland
Asia Pacific
Vietnam
Australia
India
Japan
Malaysia
Philippines
China
Middle East
Egypt
UAE
Saudi Arabia
Projects executed in 55+
Jurisdictions globally
Strong internal legal research team backed by Web of partnerships with local law firms across globe helps roll out
Global Compliance Management Solution in a single integrated application; beneficial for India based MNCs
Well researched, regular updated and locally vetted global legal libraries help reduce cost, effort & risks involved In compilation
13. On-Going Support – On CloudHosted on Secured Cloud, allows user to focus on their core business and not worry of updates & upgrades..
© RSJ Lexsys Pvt Ltd. All Rights Reserved13
Legislative Updates
• Proactively upgrade
compliance descriptions
on legal changes
announced by
department
• Uploading copy of
notifications, etc released
by the govt department
• Availability of Historical
updates & notifications
• Auto Notification to users
on change in filing date &
new compliance
• Creation content - New
acts
Software Updates
With ever evolving
technology & user
requirement, there’s need
to constantly improving
application, we ensure:
• System bugs resolution
• Technology upgrades to
the newer versions.
• New features &
Functionalities in
application
• In Case of On Premise,
application support
team to implement on
client’s environment
IT Infrastructure
• Application hosting on
Secured Cloud with
back up
• Application availability
• Planning & execution
of BCP
• Ensuring application is
protected against
threats
• Proactive measures -
Monitoring and
auditing of application
and infrastructure
• Cloud Only
Customer Support
• CRM / On Mail customer
support for reporting &
resolution of Support
Tickets related to system
bugs, legal updates.
• Training Videos for all user
• Client SPOC can also
interact related to product
usage / system
functionalities.
• User queries related to
system usage, training
issues won’t be handled.
• Monday – Friday (Except
holidays observed by RSJ)
14. Compliance Service Offerings (Optional)In addition to On-going support, Lexcomply can also provide various other compliance services on need basis
© RSJ Lexsys Pvt Ltd. All Rights Reserved14
Compliance
Monitoring
• Analyze user’s
performance
through its test
strategy, planning &
execution expertise;
• Check compliance
proofs uploaded
• Advise on quality of
report & usage
• Assist users in
correcting errors
Compliance Review
Services
• Constant changes in
laws, nature of business,
models of engagement,
etc have impact on
applicability of acts &
compliance.
• Lexcomply can
periodically review all
aspects impacting
compliance & suggest
modifications in
responsibility matrix
and application.
Operational
Support
• Reallocation
responsibility to new
user, adding users
• Automation / Creation
of New Reports
• Allocating new acts
• On-boarding new
users (Internal &
External)
• Trainings & Hand-
holding of existing or
new users
Compliance
Execution
Our Partner network
can offer services like:
• Compliance Mgt:
• Secretarial
• Taxation
• HR & Labour
• Internal Audit
• Risk / Business
Advisory
• Outsourcing Services
– Book Keeping /
Payroll, Treasury, etc
15. © RSJ Lexsys Pvt Ltd. All Rights Reserved15
Inbuilt Regulatory Intelligence
(All Applicable Acts)
Regulatory Updates
(Near Real Time & Automatic)
Shortest Implementation
Cycle
Flexible Implementation
(Enterprise / Location wise)
Continuous Support
(Legal & IT)
Secured Infrastructure
(Tier – IV Data Centre)
OUR DIFFERENTIATORS
17. Corporate Brief & Team
• Offshoot of RSJ Professionals
• Secretarial Service & Advisory Firm
• In operations since 2004, served 500+ clients
• Incorporated in Feb, 2015; HQ’d in Delhi
• Support Centers @ Delhi, Mumbai, Pune, Bangalore, Chennai
• 30+ Member team - CS, Lawyer, CAs, MBAs & IT Experts
• 70+ Corporate Clients across Industry
• Content tie-up to provide compliance solution globally
• Offers Cloud & On Premise Solutions
We believe complying to laws not only reduces risk but also reflects commitment to safeguard stakeholder’s interests
Gaurav Jain (Founder)
• Drives product innovation,
delivery & client services
• Company Secretary with 16+
yrs experience
• Ex-Founder RSJ Professionals
• Expert Areas: on Corporate
Law Compliance, FIPB, Due
Diligence, VC Funding, JVs.
Thomas Abraham (Co-Founder)
• Drives strategic initiatives
• 30+ yrs in FinTech, Telecom,
Publishing & IT. Led Global
Teams as MD of Wolters
Kluwer & Sage
• Expertise: Vision & Strategy,
Business Transformation,
M&A, Startups, etc
Jyant Kohli (Co-Founder)
• Drives Business Expansion,
Partnerships & Marketing
• MBA with 15+ yrs in ADP,
Thomson Prometric, Manipal,
Polaris,etc.
• Expert Areas: Partnerships,
Business Development, New
Markets, Customer Service.
Pooja Agarwal (Co-Founder)
• Responsible for content
creation & finance
• ICSI, ICAI, IFRS Compliance
with 14+ Yrs Experience
• Expert Areas: Financial
Management, Compliance,
Secretarial, Due Diligence
and Audits
Investors
Ajay Relan
© RSJ Lexsys Pvt Ltd. All Rights Reserved17
FoundingMembers
18. Flexibility to implement single solution & plug in others with dedicated hosting environment on Tier IV Data Centre
© RSJ Lexsys Pvt Ltd. All Rights Reserved
Confidentiality
& Security
Internal &
External
Users
Access &
Identity
Configure
Multi entity
Availability &
Performance
Compliance ManagementIFC & Risk Management Litigation Management
Premium
Act & Compliance Library
Real Time Legal Updates
Compliance Calendars
Responsibility Matrix
Event, On-going, Date Based
Dept. wise - Cases & Notices
Case records & Documents
PAN India courts listed
Contingent Liability & Losses
Collaboration, Reminders
Risk , Control & Audit Finds
Common Global Platform
Multi level controls & audit
Testing and Evaluations
Report adherence with proof
Status & Gap Reports - User, Department, Act, Control, Case, Location, Status wise
Automated & Ad-hoc Reports, Management Dashboards
Advisory Portals
Solution Portfolio
18
19. 85+ Happy Clients..!!
They trusted in our passion & commitment to create a better world that’s organized and committed to be compliant..!!!
RSJ LEXSYS PVT LTD (LEXCOMPLY) | info@lexcomply.com | +91 99991 22616
www.lexcomply.com | www.registrationsandapprovals.com | www.mycorporatedecision.com