DID YOU KNOW?

Ignorance of the law is not an excuse for poor compliance
Companies Act, 2013 has provisions for criminal proceedings and jail term for poor compliance
Cost of Poor Compliance has increased many fold in the last few years
Manual tracking leads to missed & delayed compliances
Compliance requirements change as many as 2,500 times in a year in India
Board and Shareholders put a premium on well governed companies

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Top 5 Signs that your Company needs to digitize Compliance Management

Challenges in Compliance Management

5 Reasons why Compliance is a big challenge for Indian Organisations

INDIA's COMPLIANCE BURDEN

* Data based on our actual customer's compliances

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Key Challenges faced by Compliance Officers in India

AVACOM- DIGITISING COMPLIANCE MANAGEMENT

Effective Compliance Management is critical to an organisation's sustenance and growth. However, compliance environment in India is complex and cumbersome with frequent changes. The number of registrations, returns, registers, challans, filings and other miscellaneous compliances for a mid size organisation can easily be in a few thousands a year. The traditional model of compliance management through manual tracking leads to an ad-hoc, people dependent and paper based compliance program. This compromises transparency and accountability resulting in missed / incorrect compliances with heavy penalties.

AVACOM is an Industry leading digital compliance management platform trusted by over 1,000 entities across 30 different industries in India today. It is transforming the way Companies manage their compliance program. The platform brings the power of Cloud, Mobile & Analytics deeply integrated with India's best and most reliable Compliance database. AVACOM customers have reduced their missed compliances by over 90% & penalties by 95%,

TRANSPARENCY
Real Time visibility of status with role based access, automated workflow & integrated document management system

ACCOUNTABILITY
Automated alerts, reminders, notifications, escalations & legal updates on mails, web & mobile platforms

TIMELINESS
Real time compliance calenders & alerts for timely action & intervention

TRACEABILITY
Detailed audit logs & activity reports

COMPLIANCE TYPES

TIME BASED COMPLIANCE

One-time / Daily / Weekly / Monthly / Quarterly / Half-Yearly/ Annual Frequencies
Statutory & Internal Compliances

EVENT BASED COMPLIANCE

Secretarial Events ( Over 70 Events )
Non Secretarial Events

ONGONING BASED

Actionable and Informational Checklists

COVERS LAW OF THE LAND

Labour, Finance & Taxation, Secretarial, Commercial, Industry Specific,
EHS & General Categories

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COMPLIANCE CATEGORIES

COMPLIANCE DATABASE

Comprehensive Legal Coverage

All Central, 28 States, 8 Union Territories & Local bodies
Coverage for over 35 industries

Updated Hourly

Notifications from over 2,000 Govt. websites
Searchable by keywords, categories, industry & dates

Acts & Compliance

Section, Para & Rule
Compliance Details, Frequency, Penalty, Sample Form, Relevant notes
& Legal Updates
Personalised, National, Real time & Comprehensive daily/weekly/monthly newsletters

REAL TIME LEGAL UPDATE

NATIONAL
28 states, 8 Union Territories & Local laws

COMPREHENSIVE
Across 7 Compliance Categories & Industries

REAL TIME
Within 24 hours of the notification

PERSONALISED
Configurable by industry, category, frequency, regulator,
states/UT, ministry, keyword

PRODUCT MODULES

Statutory Compliance Module
2,640 Acts, 95,507 Compliances and 6,618 Filings across 28 States, 8 Union Territories & Local bodies
Internal Compliance Module
Define your own Internal Compliances
License Management Module
Manage all statutory & other Licenses / Registrations centrally
Task Management Module
Create, Assign, Track & Manage all Tasks

DASHBOARDS

Colour Coded, Graphical, Drill Down Capability
Highly intuitive, real time updated, personalised by user configuration

Tracking 72+ parameters real time
Provides enhanced visibility, transparency and control for timely interventions

Highly configurable
Views by Financial year, Entity / Locations, Periods

Compliance Status by
Risk, user, entity/Location, category

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How to choose the right Compliance Management Software for your Organisation

WORKFLOW MANAGEMENT

Multiple Roles by Levels and
Functions

Multiple Layers of
Management

Dynamically manage
compliance assignment

Standard and Custom Workflow
Options

One or more tasks options
for a Compliance Item

Reject/ Re-submit/Revise
Compliance Options

Dynamically manage compliance
assignments

Audit Role to facilitate
restricted third party audits

Track Interest and Penalty
Expenses

DOCUMENT MANAGEMENT

Version Management

Supports multiple versions of a document

Universal Document
Viewer

Supports 47 different document types

Mandatory Review

Ensures review by supervisor
before approval

Bulk Uploads &
Downloads

Download to Local/ Network
drive

Secure with Encryption

Encryption standard - AES 256

Tamper Proof

Does not allow deletion or
modification of any uploaded
document

STANDARD & ON-DEMAND REPORTS

COMPREHENSIVE GRAPHICAL
STANDARD REPORTS

Six different types of comprehensive
and graphical weekly reports

compliance auto delivered on main and mobile

AUTO DELIVERED ON MAIL &
MOBILE

Automatically delivered based on preconfigured schedule on email & Mobile app

ON-DEMAND REPORTS

Capability to generate on demand reports with 10+parameters

MOBILE APP

FULL FEATURE APPS ON iOS AND ANDROID
PLATFORMS
Restrictions on document upload and download for security reasons

SECURE WITH PIN AND BIOMETRIC OPTIONS
Encrypted Cache
No critical data stored on local device

OPTIMISED FOR 3G AND 4G NETWORKS
Works well in slow data network conditions

REAL TIME ALERTS
Reminders & Escalations
Legal Updates

COMPLIANCE CALENDAR

Monthly Compliance Calendars
Current & Previous months

Views by Specific days
Colour coded status by day/date

Statutory Compliances
Internal Compliances
On-going (Actionable information & checklists)

Integrated with mail clients
Outlook Client / Office 365
Google for Business Calendars
Available on Mobile Apps

EVENT BASED MODULE
Compliance triggered as a result of activation of events

SECRETARIAL EVENTS
COMPANIES ACT, 2013 & SEBI REGULATIONS

Board Meetings / AGMs
Various Appointments / Shareholding etc
Over 70 Secretarial Agendas available for activation

NON- SECRETARIAL EVENTS
EVENTS SUCH AS LABOUR / EHS / FEMA etc

Fire events and other Accidents
Change of Addresses / Authorities / Occupier / Factory Managers
Change in plant layout / Proceedings under POSH Act
Maternity Benefits / Others

Documentation of Events,
Sub-Events, Actionable &
Informational Compliances

Statutory Requirements
such as due dates, penalties,
sample forms etc

Assign relevant events based
on Company type / Nature of
Work / Location

Activate an event based on
the business need with an
activation date

Auto Assignments of relevant
compliance based on
activated events

Auto computation of due
dates based on activation
date

Comprehensive workflow for
tracking, reviewing & approving
various activities

Capabilities to add internal
compliances in line with
Statutory compliances

SECURITY

Strong password policy enforced

Password strength & expiry
Account lock feature for suspicious activity

Dual Factor Authentication

OTP or Security Question in addition to User
Credentials (ID and password)

Data at Rest and Data in Motion is Encrypted

https/SSL and AES 256 bit encryption standard

User Activity Logging for incident prevention

Generates user activity audit log to monitor user actions

Role Based Authorisation and Access

Capability to restrict access by IMEI, IP Range, Mac
ID to control system access by users

AVAILABILITY

27*7*365 Available on Web/ Mobile platform

99.99% availability

Supports all popular browsers

IE 9+, Edge, Chrome, Firefox, opera, Safari
Multiple daily/ weekly/ monthly/ backups

Platform independent

Supports Windows/ Other platforms

Comprehensive Business Community/ Disaster
Recovery

Multiple Availability Zones
Hot, Warm & Cold sites available

SUPPORT

Multi-channel support

Available on real time chat, IVR, Emails & Support
ticket system

Domain Support (Legal and Compliance)

Lawyers & Company Secretaries on call

Technology Support

On Request tech support

Product Support

Features/ Training Support

Configuration Support

Implementation Support including modification to
entities/ locations/ assignments/ compliance/ mapping/ exclusions etc