With the advancement of IT and Internet-based systems and tools, the scope of corporate and legal consultancy has widened; we can easily provide services to bigger and global clients. But the competition will also be with global players. So Company Secretaries have to learn and adapt new technologies to provide speedy solutions with collaboration of Human Intelligence and Internet based knowledge.

1. CS – Adding Value through Technology
December 27, 2014

2. You can't expect to meet the
CHALLENGES of today with
YESTERDAY'S TOOLS and expect to be
in BUSINESS TOMORROW.

3. Information Technology and Business Integration...
“Information Technology
and businesses are
becoming inextricably
interwoven. Indeed
technology has emerged as
one of the primary drivers
of globalization, growth,
service to society and
borderless knowledge
economy comprising
professionals”
““Major corporations
worldwide have used IT to
stay ahead in business.
The competitive edge in
terms of fast information
flow, to support the
business and increase
productivity and
potential of human race
manifold, can be an
important factor
between success and
failure”
“Complexities w.r.t. the
Management,
Governance and
Compliance have
increased manifold in
businesses. IT has already
impacted businesses and
enterprises in India
through e-governance,
e-compliances, e-
filing, e-banking, e-
payments, e-books
and e-commerce”
“As Commerce, which
earlier based on the brick
and mortar model is
moving from the physical
market place into digital
virtual space, the need for
services in the traditional
areas of consulting will
increase on account of
increasing risk and
potential”

4. Developmentinpast2decades
Mobile Telephony
& Internet
Online Banking
E – Commerce

5. Developmentinpast2decades
National E –
Governance Plan
MCA21

6. Internal Challenges

7. InternalChallenges
More Focus on
legal
recognition
Limited
Professional
Development
Lack of
Entrepreneurial
SkillsLack of Self
Confidence
No Mega
firm of CS

8. Presentwayofworking
 Strategy
 Problem Solving
 Corporate
Planning
 Procedure
Works

9. Regulatory shift towards
technology

10. Regulatoryshifttowardstechnology
Towards
Simplicity
Self
Governance
E -
Governance

11. Govt. Initiatives towards ease of business
E-Filing Tax Return
TDS Administration through
web based application
Shram Suvidha portal for filing
Labour Law return
E-environmental clearances
Government IT initiatives for ease of business and governance
Ministry of Corporate Affairs (MCA) is working to reduce the
timelines to incorporate a company and process of setting up
business in India. It is also planning to centralize the
processing of all registration applicants at one office. Further
with the introduction of concept of One Person Company
(OPC) under Companies Act, 2013, Govt. is attempting to bring
unorganized sector to organized sector.
With ease of doing business in India and benefits of forming
corporate entities, millions of MSME will gradually convert
into corporate and no. of corporate will increase significantly.
Cabinet secretariat driving switch to online applications
for over 200 permits needed to start a business in India.
(Source: ET (28th Nov, 2014)
Its high time for moving legal service industry in India from physical market place to digital space has come because:
 All existing corporate laws of India like: Company Law, Income Tax, Securities Law, Service Tax, Sales Tax, Labour
Law, Environmental Law etc. are decades old laws and are getting replaced by new law keeping in view the
international standards. Lots of clarifications, circulars, notifications, different interpretations are bound to arise;
 Demographics of India;
 Penetration of Internet with roll out of 4G technology
Govt. Initiatives towards Legal Industry

12. OtherGovernmentInitiatives
Other Government Initiatives
Fully integrated
National E –
Governance system
by 2019
Aadhaar and
National Citizen ID
by 2017
E - Stamping
DIPP e-Biz by 31st
December 2014
Extensive use of
Cloud ERP software
by 2017
Broadband
highway
and
Digital India

13. Companies Act, 2013 focus
towards Information
Technology

14. TechnologicalmoveinCompaniesAct,2013
E Voting
E Registry
E
Recording

15. TechnologicalmoveinCompaniesAct,2013
Terms used in Companies Act, 2013 Count
Electronic Form (e-form) 84
Electronic Mail 76
Information to be put on website(s) 51
Electronic Mode 40
Electronic Means 26
Video Conferencing 21
Audio Visual Means 20
Electronic Record 19
Electronic Registry 12
Voting by electronic means and electronic voting system 9

16. Competitive Challenges

17. CompetitiveChallenges
Global
Competition
CS, CA & CMA
competing for
same
compliance
services
Private
institutions
getting
recognition -
CFA
Private
University
becoming
deemed
university

18. What brings this Shift

19. Globalization

20. Globalization
Free and fair trade
and vanishing
Economics
Boundaries
UN, WTO, WB, IMF,
OECD, ADB and ICC
are standardizing
rules for
international trade
Single law for trade
and commerce

21. Technological Advancement

22. TechnologicalAdvancement
E Commerce wiping out middleman
Made the things more convenient for professionals
Capital & Technology replacing Labor
Consolidation of Market Players

23. Web based Application, Websites and
Mobile Apps
Server Computing
Cloud Computing
Mobile Computing
User
Interface
Technology
Modes
ModesofdeliveryinformationthroughIT

24. TechnologicalAdvancement
Social Media

25. TechnologicalAdvancement
Software / Information web
portal
Many More……

26. TechnologicalAdvancement
Apps
Many More……
Notability
Business Card
Manager Lite
Photomania
Bookmyshow Google map
Bhagavad Geeta

27. PrivateInitiatives

28. UseofTechnologytoequipyourself

29. How learning process is evolving –
Companies Act, 2013

30. Howlearningprocessisevolving–
NewCompaniesAct,2013
New Law
Act / Rules / Forms
/ Circulars /
Notifications
Query
E – Books / Groups /
Updates
Procedure
Software
FuturePresent
Strategy
and
Planning

31. Will Technology take away our
work?

32. TECHNOLOGY TRANSFORMATION will
not be WORK DESTROYER rather will be
a WORK CREATOR

33. TRANSFORMATION is a part of life and has
brought fabulous growth in the past…..

34. Transformation from
Stock Market – Out-Cry-System

35. Transformation from
Physical Share Certificates to Demated shares

36. Growth of 613% in Turnover of BSE
and NSE observed in last 15 years
457,092
3,257,053
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
1998 2013
Turnover (INR Crores)

37. MCA21 : Paper based operations to
paper less environment

38. Out of Total 14 Lacs Companies incorporated
in India, near to 6 Lacs Companies
incorporated in last 8 years
over 100 Years and 8 Years
Time Period No. of Companies Incorporated in India
Over 100 Years till 2006 795527
Last 8 Years 574546

39. With Ease of business, new concept of One Person Company (OPC) and considering
benefits of organized trade as Corporate entities, high conversion ratio of
proprietorship firm to Companies is bound to happen which would increase demand
for Incorporations, Compliances and Legal support in cost effective and efficient
manner.
ChangingMSMELandscape
Govt. MSME records show that
94.41% of the enterprises were
proprietary, 1.18%
partnerships and meagre
0.14% under Corporate form.
Rural areas accounted for 55%
of the total working
enterprises in MSME sector.
Source: Annual Report-MSME 2013 -14

40. …..

41. Physical legal opinions Online opinions by experts
Limited physical Presence
Global presence through web. Carry
everything on cloud
Document Drafting Online document drafting
Legal updates- email
Google
Plus/Facebook/Linkedin/WhatsApp
Physical Registration Complete online registration
Courts/Tribunals e-Courts & Tribunals
Legal process/procedures Complete Automation
Law Books e-Books/websites
Time consuming lengthy process Quick result in few hours
FutureofLegalIndustry
usingITandMobileTechnology

42. Corporatee-SearchReport
CURRENT PROCESS
FUTURE
Automated
process
Collation of
information from
various scattered
sources
Reports can be
prepared as early
as 4-5 hrs.
Total Time
consumed as
much as 4-5
days…..

43. LegalAdvisory
CURRENT PROCESS
FUTURE
 Presently legal advisory and legal documentation is done by Professionals
in a personalized manner.
 No single player in India, who is dedicated to serving MSME, Corporate
and Individuals requiring Legal services and documentation in an
economical and efficient mode on a wide range of applicable Laws in
India.
Online
Legal
Advisory
Legal advisory and
documentation in an
online mode to cater to
lacs of entities and
Individuals in cost
efficient manner.

44. StartandManagementofBusiness
CURRENT PROCESS
FUTURE
Company incorporation and Compliance support services in India
is done offline which requires professional help, is quite costly;
time consuming.
Single system for managing
all the compliance and
automated alert and control
mechanism
Easy tool for business
registration in automated
manner

45. MarketView
 Internationally e-search, incorporations, Legal
services, Documentation, Compliances etc. are
provided in automated and online mode
 It is high time to transform highly personalised
legal services in India into technology enabled
legal solutions

46. INR 2000 Cr
INR 42,000 Cr
E–CommerceMarketPlaceinIndia

47. USD 20
Billion
E–CommerceMarketPlaceinIndia

48. MCA21 : 2nd Phase

49. Nothing is permanent in TECHNOLOGY
except CHANGE………

50. Use Technology to Beat
Technology

51. Knowledge Enhancement

52. Showcasing your experience

53. Business Development
E - Networking

54. Business Management
Virtual Database Management

55. ChangeofworkScenarioByusingTechnology
 Procedure
Works
 Strategy
 Problem Solving
 Corporate
Planning

56. Strategy to beat
challenges

57. Whatyoushoulddo
Focus on areas where
Computers can’t enter

58. Whatyoushoulddo
Venturing unexplored areas

59. Whatyoushoulddo
Diversification into new
segments

60. Whatyoushoulddo
Change in mindset

61. Whatyoushoulddo
You can't do
everything alone?
But

62. Quality
of
Service
Corporate
Laws
Economic
Laws
Taxation
Laws
WTO & IPR
International
Trade Law
Management
Consulting
Finance and
Accounting
Commerce
Brand
Synergy
Infrastructure
Synergy
Capital
Synergy
Collaborative Commerce
Single
Window
Interface
Knowledge
Synergy
Global
Presence
Growing
Revenues
Growing
Customers
Growing
Nations
CS + CA + CWA
+ MBA + LLB
So share business opportunities through tie-ups and
synergize through C - COMMERCE

63. SuccessMantra
Knowledge
+
=
C–Commerce
IT
Success
+

64. SuccessMantra
Whether Professionals can grasp
such changes??
“THE SURVIVAL MANTRA”
Learn, Unlearn &
Relearn

65. “The combination of HARD
WORK and SMART WORK is
EFFICIENT WORK”

66. SuccessMantra
“Things will never be the same…..
So change the future before
future changes you”

67. Pavan Kumar Vijay
Past President, ICSI
Managing Director, Corporate Professionals Capital Pvt. Ltd.