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Sep 05, 2021
4 min read

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Managing Compliances in India is complex and needs resources and expertise. Any mid to large sized organisation in India would typically deal with a few thousand compliances in a year. These would include licenses, registrations, renewals, returns, challans and maintenance of registers. Unfortunately most organisations have highly manual processes and rely heavily on spreadsheets and emails for compliance tracking and management. As a result, they end up missing critical compliances, incurring huge penalties and losing credibility with investors, board and customers. The KMPs (Key Management Personnel) and Compliance Officers are often seen with anxious and firefighting. The only solution is to digitise and automate compliance tracking and management.

TeamLease Regtech, a TeamLease Company, is India leading Regulatory Technology (RegTech) solutions company. It’s flagship product AVACOM helps organisations to digitise and automate their compliance tracking and management. AVACOM is an industry leading platform and brings transparency, accountability, timeliness and control in compliance. TeamLease Regtech has a web and mobile based platform integrated with India’s best Compliance Database which has over 1,536 Acts, 69,233 compliances and 6,618 filings. Here are the key features:

Smart Dashboards

AVACOM dashboards help you track over 72 parameters real time which gives you a realistic picture of residual risk in your compliance environment. Colour coded and click through charts and smart widgets offer you drill down capabilities to get the status of any compliance by Act, Entity, Location, Function, Department, User or Risk.

Document Management

Any compliance typically involves compliance documents (acknowledgements, receipts, application forms, license copies, registers etc). Integrated Document Management ensures that all your compliance documents and working files are available in one, easy to access document repository. With AVACOM, you never misplace any document. Your compliance officer and CXOs can access any document any time in a few clicks.

Automated Reporting

Smart Reporting module offers you rich and graphical reports delivered automatically in your mailbox. If you need to get any specific slice of data, just go to on-demand reports and apply one or more filters to create your own report in seconds. If you love working with spreadsheets AVACOM allows you to download them in excel.

Digital and Automated Legal Updated

Regulatory environment in India is highly dynamic. Laws change at least 15 times a day. These changes get notified one among the few thousand government websites. One or more of these may affect your compliance obligations. AVACOM delivers the relevant legal updates to you typically within 24 hours of notification.

Automated Reminders / Alerts /Escalations

Our professional world has become very complex. We all often end up juggling priorities. As a result, sometimes important dates get missed. AVACOM comes automated notification engine. You can stop worrying about missing dates now. Auto generated compliance calendar and built in notification engine ensures that you get multiple reminders ahead of the due dates on web, mobile and emails. In case, any user misses the date, escalations get triggered so that corrective action can be taken.

AVACOM comes integrated with additional integrated modules such as Internal Compliance Management, Litigation Management, Contract Management and Task Management.

With AVACOM, you can easily digitise and automate your compliance management at a price point which is lower than the salary of 1 resource. Most organisations go live in under 4 weeks. Clients have reduced missed compliances by over 90% and penalties by over 95%. Investments in AVACOM pay for themselves in the very first year.

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