Tuesday, 15 May 2018

Concepts of Compliance Management

All the organisations are adherent to laws of the land. They are obliged to follow statutory and internal laws along with regulations, acts, circulars, compliance, tasks etc.

There are various software programme like the one from Compliance Mantra available which smoothen this process. These web-based programmes give a global way of compliances, by way of task & document management, timely reminders, notifications, alerts etc. these software are designed to periodically review, schedule, allocate  & complete various compliance practices prevalent world over.

Different laws need compatible & statutory compliance by Regulatory Compliance Software Companies. Complianceis both country-specific or internal or administrative of a particular firm. Further, additional benefits of web-basedRegulatory Compliance Software Solutionsare about task management, document management as also it acts as a periodical reminder of various pre-set tasks. Risk management and follow up regarding new legislation are other significant roles of the program.

Therefore, Regulatory Compliance Management Software program from Compliance Mantra takes care of compliance in respect of various applicable laws, regulations and variousguidelines, simultaneously pointing out or detecting issues of non-compliance along with undertaking appropriate corrective actions.

Various laws to be complied with by the firms are:

  • General laws,i.e.Corporate, Taxation, Industrial & Labour laws, Environment laws, Factories act
  • Event-based laws are Intellectual Property Laws, custom & foreign exchange laws
  • Sector-specific laws 
  • Segment wise laws consist of various industry-specificlaws such as in FMCG, Engineering, construction, hotels, drugs, textiles and numerous other industries
  • State wise laws – Labour Welfare, Shops and commercial establishment Act, etc.

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