Phase 2 - Compliance Applicability Assessment
TeamLease Regtech identified several hoists, lifts, weighing equipment, cranes, vessels, hazardous effluent, boilers, pressure vessels, gas cylinders, solid waste effluents among others. These equipment required proper safety assurance and compliance requirements thereby leading to applicability of different Acts and Compliances.
Our Client was a private limited company and a number of secretarial events and other non secretarial events were also applicable. They had 2 plants in maharashtra, hence Factories Act and various other Acts under EHS also became applicable.
The team identified over 155 applicable Acts with over 6,080 applicable compliances including time based and on-going compliances. An additional 550 event-based compliances were also found applicable.
Over a hundred licenses, registrations, permissions, consent to operate orders, approvals were identified. A gap assessment was done and it uncovered several critical gaps between statutory requirement and actual requirements which were to be met by the company.
Phase 3- Implementation
This phase is the most critical phase of the project. During this phase, TeamLease Regtech assigned a 3 member team of subject matter experts to work with the client’s project team. This phase lasted about 3 weeks during which the following items were accomplished:
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Map the Client Organisation (Group, Entities, Sub-Entities, Locations, Departments)
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Review of identified applicable Acts and Compliances with respective department heads
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Discussion on identified gaps with department heads and compliance head
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Mapping of Compliances to specific users along with their roles
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Hands on training sessions with user groups based on their locations and roles
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Activation of system for a predetermined go-live date
TeamLease Regtech team downloaded the mobile Apps from App store and Play store on the user’s devices. A total of 50 users were identified across the organisation mapped to performer, reviewer, approver and management roles.
In Conclusion
Chemical Industry in India is key to job creation and GDP growth. However, it is labour intensive, capital intensive and compliance intensive leading to a challenging business environment.
AVACOM is an excellent product that helps companies in this industry scale with ease. The product helps them bring in efficiencies, productivity gains and significantly reduce the costs arising out of penalties and delays. TeamLease Regtech can help clients migrate to predictable, process oriented and digital compliance environment.