• Home
  • Jobs
  • Q&A
  • Register
  • Login
  • Search Business Directory
  • List Your Business for Free - Join Us & bring more customers

  • 75% companies feel paper based compliance is complex and often results in lapses: finds Avantis Regtech


    ~ Industry calls for digitizing the compliance landscape to improve ease of doing business in India ~


    National, 31st March, 2021: Avantis Regtech, a leading regulatory technology solutions company from the house of TeamLease Services, shared findings of their recent survey on the compliance landscape in India. According to the survey close to 75% of the companies had missed out on at least one critical compliance because compliances are complex and majorly still based in India. In fact, while responding to the survey, nearly 98.6% employers have reiterated the need to digitise the compliance process in the country as they feel that it would simplify and make the process easier to manage.


    Addressing the regulatory cholesterol in India and sharing insights on the survey, Mr Rishi Agrawal, CEO, Avantis Regtech Pvt Ltd – A TeamLease Group Company, said,Managing compliance in India is an up-hill task, as the landscape is very complex. We have a universe of 1,536 Acts and 69,233 Compliances that change over 3,000 times a year. Each company not only has to deal with multiple compliance requirements but also numerous deadlines. It thus becomes difficult for organizations to stay informed about these changes and ensure compliance in time. Further, to make matters more complex out of the compliance landscape close to 65% are still paper based making the process even more cumbersome. All of this not only leads to fines and penalties for organizations, but also impacts India’s ease of doing business”.


    Delving deep into the study, some of the other key findings include:




    The need of the hour is to simplify, rationalize, digitize and de-criminalize the regulatory ecosystem to create a cashless, presence less and paperless compliance process. One of the major aspect that should be considered to improve the ecosystem is setting up of a National Compliance Commission which should aim to reduce the compliance burden by at least 50%. Additionally creating a Unique Enterprise Number (UEN) (for creating a single corporate identity) and launching an Enterprise Digi Locker will enable better compliance profiling of companies. All of this will help to eliminate redundancy, remove duplication, improve record keeping, in turn making the whole process faster and seamless”, added Mr Agrawal.


    A focussed survey, the study analysed feedback from compliance professionals from more than 121 organisations across different industries.




    About Avantis Regtech: Avantis Regtech, a TeamLease Company, is India's leading Regulatory Technology (RegTech) solutions company enabling Ease of Doing Business for over 1,557 legal entities across 28 States and 8 Union Territories. Avantis offers state of the art multi-tenant, SAAS solution on its web and mobile platforms, enabling a transparent, accountable and efficient risk and compliance management. Avantis has one of the most comprehensive Legal and Compliance databases in India with 1,536 Acts and 69,233 Compliances updated on a near real time basis covering over 3,000 changes every year. It helps Directors, Board Members and Legal and compliance officers stay up to date on their compliance requirements and reduce operational, reputational and financial risks. Avantis serves over 11,485 corporate users located in over 10,000 plants / office / warehouse locations and tracks over 2,00,000 compliances and supports filing up of 12,000 Registers, Returns, Challans and other Compliance documents every month. The company envisions a cashless, paperless, presence-less and a simplified compliance administration as the building blocks of EODB 3.0.


    About TeamLease Services: TeamLease Services is one of India’s leading human resource companies offering a range of solutions to 3500+ employers for their hiring, productivity and scale challenges. A Fortune India 500 company listed on the NSE & BSE, TeamLease has hired 17 lakh people over the last 17 years and has 2 lakh+ open jobs every day. One of India’s fastest growing employers, TeamLease also operates India’s first Vocational University and fastest growing PPP National Apprenticeship Program. The company offers solutions to large, medium and small clients across the 3Es of Employment (1.5 lakh+ employees), Employability (2 lakh+ students) and E-Workforce (1000+ employers).

    We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! email us at educratsweb@gmail.com and submit your valuable feedback.
    Save this page as PDF | Recommend to your Friends

    April 17 - Historical Events - On This Day
    World Homeoophilia Day - 17 April

    Recent Posts

    1. Recruitment Results Finalized by UPSC in March, 2021
    The following Recruitment Results have been finalized by the Union Public Service Commission during the month of MARCH, 2021. The recommended candidates have been informed individually by post.  
    2. More than 80 companies required expertise to design and manufacture different types of labels for use in medical devices
    More than 80 companies required expertise to design and manufacture different types of labels for use in medical devicesOwing to the ever-increasing number of medical devices along with the rising associated complexities and stringent guidelines issued by various regulatory authorities, the glob
    3. E-Commerce Retail Companies
    Representations alleging violations of extant laws by e-commerce companies, have been received. In this regard, representations received are being examined by Department for Promotion of Industry and Internal Trade (DPIIT) and certain alleged contraventions under the FDI Policy, are also being investigated against certain e-commerce retail companies under provisions of Foreign Exchange Management Act, 1999 by the Directorate of Enforcement. Further, several complaints against e-commerce entities, includi
    4. KVIC's Use of Paper Packaging in Online Sales Earns Public Accolades
    Khadi and Village Industries Commission’s (KVIC) venture into the E-Commerce industry  just  two  months ago is using   handmade paper packaging materials from day one to prevent plastic pollution that is along the Khadi’s principle of “Green Chemistry''. KVIC is specifically using handmade paper envelopes/packets and handmade carton boxes for packaging of articles except for liquid materials where plastic wraps are nominally used to prevent an
    5. Tender to Local Companies
    To ensure that the local firms are allotted the tender under Atmanirbhar Bharat, the following measures have been taken:- 1. The Department of Expenditure (DoE) vide Order No. 12/17/2019-PPD dated 15.05.2020 (copy also available on website of Department of Expenditure) has amended Rule 161 (iv) of General Financial Rules (GFR) 2017 restricting Global Tender Enquiry (GTE) for the contract/ supply value of above Rs. 200 crore to enable floating of local tenders by Procuring Entities of Government
    6. Gauhati High Court Previous year Question Papers of Judicial Services & Non-Judicial Services
    Previous year Question Papers. 1. Judicial Services 2. Non-Judicial Services  
    7. Bangalore based researchers synthesize durable, efficient, cost-effective catalyst for sustained & efficient Hydrogen Evolution
    In order to phase out fossil fuels and combat climate change, hydrogen is projected as one of the next generation low carbon fuels. The future of use of hydrogen as a fuel lies in the design of efficient electrocatalysts for facilitating electrochemical splitting of water to produce hydrogen.
    8. Karnataka SSLC supplementary result 2020 declared at karresults.nic.in; 51.28% students qualify
    Representational image. PTI Karnataka SSLC Supplementary Examination Results 2020 has been declared today (16 October) at karresults.nic.in. Students who have appeared for the e
    9. The importance of translation services for companies
    Is your business strong in the country and you want to expand it globally? Global exposure is only possible if you prepare for it. Business communication with multiple countries requires expertise and precision. Whether you are in the public or private sector, you need professional translation services for more than one language. What are the advantages of using translation agencies? Better communication with customers: If your company needs to communicate
    10. Khadi opens Outlet in SPG Complex to Accelerate Swadeshi push
    Khadi and Village Industries Commission (KVIC) has taken another step towards promoting “Swadeshi”; and this time by roping in the Special Protection Group (SPG) with the drive. Today, KVIC inaugurated a new Khadi India Sales Outlet within the premises of SPG Residential Complex at Dwarka in Delhi. This outlet will benefit nearly 4000 families of SPG officers and staff residing in two adjacent residential complexes in the area. SPG is the agency responsible for security of the Indian Prime Mi
    11 Recruitment of Medical Officer Vacancy in Coal India Subsidiary Companies 2021 #Sarkari Naukri 13 Days Remaining for Apply
    Coal India Limited (CIL), (A Govt. Of India Undertaking) is having many subsidiary companies throughout India for Coal mining and all coal related activities. These Coal companies are looking to recruit Dedicated and Enterprising Medical Executives for their respective hospitals. (Advt. No. 02/2021). Coal India invites online applications in the prescribed format for the recruitment of following various Medical Executives i.e. Medical Officers and Medical Specialists Sarkari Naukri Vacanci ...
    12 Recruitment Agencies | Staffing Companies in India | Recruitment Firm #Jobs 13 Days Remaining for Apply
    Recruitment Agencies | Staffing Companies in India | Recruitment Firm  Established in 2004, Innovsource is a leading workforce solutions provider having fulfilled the end-to-end HR needs of 1200+ customers spread across 15+ industry sectors since inception. Over the years, we at Innovsource have mastered the workforce business, focusi ...
    13 Tik Tok Star Wallpapers
    14 New Year Decoration Wallpapers
    15 Actress Divyansha Kaushik hd photos, Latest Wallpapers
    16 Beautiful Malayalam Actress Hot Photos and Wallpapers
    17 Disha Patani - HD Wallpapers
    18 Kajal Aggarwal Wallpapers
    19 Disha Patani - HD Wallpapers
    20 Disha Patani - HD Wallpapers
    Bihar Government Calendar 2021  IMAGES, GIF, ANIMATED GIF, WALLPAPER, STICKER FOR WHATSAPP & FACEBOOK Bihar Government Calendar 2021

    Jobs & Career Engineering Faculty & Teaching Defense & Police UPSC Scholorship Railway IT & Computer SSC Clerk & Steno UGC NET
    Contents News Education General Awareness Government Schemes Admit Card Study Material Exam Result Scholorship DATA Syllabus Contact us
    Explore more Archives Web Archive Register / Login Rss feed Posts Free Online Practice Set Useful Links / Sitemap Photo / Video Search Pincode Best Deal Greetings Recent Jobs Guest Contributor educratsweb Latest Jobs Notification sarkariniyukti.blogspot.com Bharatpages - BUSINESS DIRECTORY IN INDIA - FREE ONLINE BUSINESS LISTING
    Our Blog Educratsweb Blog Bhakti Sangam chitragupta ji maharaj shri shirdi sai baba sansthan
    Follow my blog with Bloglovin

    Guest Post | Submit   Job information   Contents   Link   Youtube Video   Photo   Practice Set   Affiliated Link   Register with us Register login Login
    Bengali English Gujarati Hindi Kannada Punjabi Tamil Telugu Urdu or Any other Language Google's cache Page
    educratsweb logo
    educratsweb provide the educational contents, Job, Online Practice set for students.
    if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register & Share your contents.
    For Advertisment email us at educratsweb@gmail.com
    #Search | http://educratsweb.com/content.php?id=5612