1. Your Compliance Partner in VUCA World
Business Critical Preventive Integrated TechnologyDriven
2. Managing Compliances – Need to Rethink
Employee
Attritions
Globalization
Rupee Demonetisation
New
Governments
Technology Changes
Currency Fluctuations
Competition Policy Changes
You never know what’s coming your way in VUCA World?
Brexit
M&A
GST
Companies Act 2013
• Section 134 (5d) - Board of Directors (BoD) to declare the following in Directors’ Report which is to be filed with
RoC that the directors:
o have devised proper systems to ensure compliance with provisions of all applicable laws
o have ensured such systems were adequate and operating effectively
• Clause 49 (II/D/3) - A Board is to periodically review the compliance reports of all laws applicable to a company,
and prepared by it as well as the steps taken by it to rectify instances of noncompliance.
• Section 205 (1) - The Company Secretary shall report to BoD status of compliances under applicable laws.
3. Complexities in Managing Compliances
LEGISLATIVE CHALLENGES
• Large number of legislations
• Central & States
• Multipleregulators
• Multiple business locations
• Industry Specific Guidelines
INTERNALCHALLENGES
• Lack of ownership
/awareness of functional
staff about compliance
• Segmented compliance
initiatives
• Frequent changes in
process owners and
internal processes
SYSTEM CHALLENGES
• Compliance System not
standardized
• MultipleCompliance
vendors – Act Specific
COMPLIANCE REPORTING
• No Standardization &
Consolidation of compliance
reports.
• Board needs reports in
every AGM & meetings
4. What’s your peers saying on compliances?
81% of respondents agree that
compliance will need to optimize
operations in order to manage a more
complex set of risks under tighter
resourcing conditions.
2016 Compliance Risk Study
93% Practitioners expected personal
liability of compliance professionals to
increase in 2016.
Respondents voted at Thomas Reuters New
York customer summit
Other Relevant Facts & Trends
• Almost 40% of the compliances are transaction/event based.
• 37% of mid-sized companies data left sitting in Excel or similar types of databases.
• Organisations just do not have visibility of their compliance obligations.
• Most users don’t have access to relevant consolidated compliance library and updates thereto
• Penalties & Prosecutions of individuals & directors seen a steep hike in recent times.
5. Company Profile
GauravJain Jyant KohliPooja AgarwalThomas Abraham
Only Indian “Compliance
Management System” with
12 + years of Industry
Experience
End to End Compliance
Management Solution
available since Feb’15.
Top Management Team
with vast industry &
domain experiences.
Solution Offerings:
• Acts Encyclopedia
• Compliance Mgt System
• Internal Financial Control
• Court Case Management
Strongly supported from
Board of Advisors &
Leading Investors
• Order to Use in 15 days
• On-cloud offering
• Updates & product
enhancements available
In House team of 30+
Technical & Legal Experts
Strong Partner
ecosystem: 10+ partners
60+ corporates & 300+
users across industries
transformed their Risks &
Compliances with us
TeamBehind
6. LexComply – Product Overview
• 285 + Acts covered
o 135 Central Acts
o 150+ State Acts
o 29 States
• 9500+ Compliances
o One Time - 550+
o Event Based - 4030+
o Ongoing - 4390+
o Due Date - 460+
Statutory Filing Forms
available in system
1475+
Data with each compliance:
• Definitions & Notices
• Criticality levels
• Penalties & implications
• Reminders & Escalations
• Reports / dashboards for
HODs, GCs, Management
Team
Real-time updation of
system with changes in
Acts & it’s impact of
compliances obligations
Integrated inputs:
• External compliance
vendors – All functions
• Internal teams.
• Attach proofs with each
compliance
• Documents tagged and
stored for quick search.
Highly configurable
• Only relevant acts
• Fully Compatible
• Accessible on Mobile
• Schedule compliance
surveys
• Provide access to
external auditors
• Integrate multiple group
companies in single
application
• Role Based Access
• Available on On-cloud
• Zero involvement of
client’s IT team
• Order to Use in 15 days
7. Product
Features
Content
Management
Legislative
Monitoring
Real time
monitoring
Accountability
Audit
Management
Event
Management
- Central library of all laws, legislations,
acts and compliances
- Statutory Filing forms
- Links to govt & other usefulwebsites
- Acts & Compliances explained
- Compliance list updated
on real time.
- Notifications /
Escalations / Reminders
sent for every event.
list of corporate- Exhaustive
events
- Enables
compliances
mapping of
associated with
events across the organization.
- Auto updation of calendar with
event-based compliances.
- Applicable compliances
available for audit for period
- Changes in laws are tracked for
audit
- Real-time consolidated or
task-wise compliance
status
- Reports / Dashboard.
- Role Based Automated
reports for various
stakeholders.
- Download data in CSV or
Excel
-Compliance matrix & hierarchy for
execution of all compliance tasks.
- Due diligence with system alerts,
notification, and periodic reports.
Lexcomply – Product Overview ..contd..
13. Other Products Offerings
Internal FinancialControl
• Enable corporates to implement Internal
financial control across the organization
• Automate process of educating the team
about standard operating procedures
• Enables to track compliances and auditing of
the same.
• Focus on
ongoing
event (capital expenditure) and
based (operating expenditure)
compliances.
Court Case Management
• Enables corporates to manage and track
litigations
• Maintaining and track all documents and
other relevant materials in a single platform.
• Provision to upload documents
• Access can be provided to external users.
• Reminders, Escalations can be set.
• Works on a premise based server to ensure
confidentiality.
• Reports & Dashboards – Location wise,
Department Wise, Advocate Wise,
Courtwise, Status Wise, etc.