Phase 2 - Compliance Applicability Assessment
In this phase, TeamLease Regtech team analysed all the information gathered and created
a
comprehensive list of applicable Acts and compliances by:
-
Entity / Sub-Entity
-
Compliance Category (Labour, Finance & Taxation, EHS, Commercial, Secretarial,
Industry
Specific & Other Local Laws)
-
Equipment
-
Establishment
The team identified over 100 lifting tools and tackles. In addition, there
were 4 paint shops, hundreds of compressors and weighing
instruments,
variety of chemicals including hazardous materials and waste. There were over 14,000
employees categorised into skilled, semi-skilled and unskilled, full time, part
time
and contract labour.
The client employed a combination of internal and third party physical security agencies
to
guard their plant and units spread over several hundred acres.
The above lead to applicability of over 100 Acts with over 4500
compliances.
These included several hundred permissions, licenses, returns, over a thousand different
types of registers and displays every month. There were 95 different users
identified
who were mapped to performers, reviewers, approvers and management roles.
Phase 3- Implementation
This phase is the longest and the most critical phase of the project. During this phase,
TeamLease Regtech assigned a 5 member team of subject matter experts to work with
the
client’s project team. This phase lasted about 4 weeks during which the following
items were accomplished:
-
Map the Client Organisation (Group, Entities, Sub-Entities, Locations, Departments)
-
Review of identified applicable Acts and Compliances with respective department
heads
-
Discussion on identified gaps with department heads and compliance head
-
Mapping of Compliances to specific users along with their roles
-
Hands on training sessions with user groups based on their locations and roles
-
Activation of system for a predetermined go-live date
In Conclusion
It has been over a year since the client has actively used the system. During the course
of
the year, several review meetings were conducted to resolve specific post implementation
issues. TeamLease Regtech conducted additional training sessions for newly inducted
staff on
need basis.
Today, the client has migrated from an ad-hoc, people dependent and paper based
compliance
program to a predictable, process based and digital compliance program. The Compliance
officer is enabled with real time dashboards empowering her with a comprehensive view of
the
status of compliance based risks across their organisation in India. This has enabled
her to
make appropriate interventions to contain risks arising out of non-compliance resulting
in
improvement in on-time compliance. In addition, her ability to provide more transparent
assurance to the board has improved drastically. Since then the client has implemented
Litigation Management Module covering all their statutory notices and cases across the
country.