In today’s complex world of multiple regulations by multiple authorities, tracking of compliance has become a very important element for the survival of a company. Compliance management software helps you to overcome the difficult task of managing the compliance requirements and the corresponding documentation. It also helps you to keep a track of the deadline for submissions. One of the most important features of compliance management software in India is that they keep the user updated about the latest rules and regulations as well as the changes to the existing rules that different governing authorities announce. From time to time, the Central Government Ministries, SEBI, RBI are some of the authorities that announce new rules and amendments to the existing rules.
Up till a few decades back, the Board of Directors and Company Secretaries used to struggle with a pile of documents and the files related to different regulatory requirements. Sorting out these documents and submitting the required papers within the given time frame was extremely difficult. It used to involve a lot of document study and running around, as well as a lot of man-hours. But now with the advent of automation and computing, things have become much easier and faster. Compliance management software help in sorting out the complex regulations and new clauses added to the existing rules. They also help to understand the rules easily.
BoardEye and LegiLens are two compliance management software offerings from Axar Digital Services Pvt. Ltd. that help in tracking the compliance management on the Company level and at the Board level. Both software are developed in such a way that they provide the users with the latest updates about compliance requirements within 3 days of the authority’s announcements. They can be customized to a Company’s needs.