Wednesday, 3 July 2013

ROI on ComplianceMantra

How to estimate what your ROI on ComplianceMantra will be?

To determine the cost of not implementing ComplianceMantra, put some numbers to the following:

1.      How many statutory compliances were missed/delayed in adherence by your organization in the past financial year?
2.      What was the total amount of penalties that your company was liable to pay due to Non-compliance, during the same period, which could have been invested in new ventures?
3.      Did you face any legal harassment by the regulatory authorities due to Non-compliance? If yes, estimate the time spent on these harassments, which could have been used for new and innovative beginnings.
4.      If your using Excel or manually managing your compliances, estimate the time required for effective control of all your statutory compliances across several office locations, at one place.
5.      Estimate the number of hours lost in going through files and folders searching for forms, receipts and challans related to the compliances.

6.      Take a note of harassment faced by top management due to negligence of employees responsible for meeting of the compliances. Can you put a number on that?

 If you cant come up with any of these numbers or your numbers are alarmingly high, you definitely need ComplianceMantra!!!!

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