When you should implement a Compliance Software!
In our experience of working with 100s of companies and talking to 1000s others, we realized that Compliance software is not for everyone.
Yes, you heard it right.
Although some basic compliances are applicable to every registered company in India, not every company should implement a compliance software.
The next obvious question is then who should consider such a solution. Let me give you simple pointers to help you make the decision.
The organization is ready to implement a Compliance software when:
- The company has reached a sizeable scale in terms of turnover (>100 Cr turnover) or is a multi-national company or has received Venture Capital Funding.
- The operations of the company are fairly decentralized with multiple locations viz. manufacturing units or warehouses or branch offices, spread across multiple states in India.
- Tracking Legal updates for 100s of applicable compliances across Central Laws, State Laws, Industry Specific Laws and Municipal Regulations is a challenge and the organization requires experts to keep track and update the same.
- Compliance tracking and co-ordination between different teams, department and locations on excel sheets, emails or drives becomes complicated.
- The senior management believes that digitization can result in increased efficiencies and cost savings in the long term.
Complinity is India’s Leading Compliance software that can help you digitize and automate your compliance management.
Happy to discuss whether you should consider implementing a compliance software for your organization. Click below to talk to our experts and know if you are ready.
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