Complysoft: A game-changer of statutory compliance management services
Just like citizens have laws and regulations to which they have to comply with so does business and organizations which they need to adhere to. Government laws have nowadays clamped down the policies which have prompted the possibilities of penalties. Hence companies tend to hire the right person to ensure they remain within the law.
Compliance Management is the process by which managers plan, organize, control, and lead activities that ensure compliance with laws and standards.
AN OVERVIEW OF THE FIRM
Complysoft operates as a Statutory Compliance Management Service provider in India and other overseas countries. They offer consulting and statutory compliance services by way of compliance audit, compliance implementation and ensuring the ongoing compliances in a timely manner through their Compliance software. Complysoft also handles the compliances of the organizations as an outsourcing activity on a retainership model. They take care of the organization’s litigation requirements across India by handling the matters at different courts through their network of extremely efficient counsels. They also cater to the entire requirement of Secretarial Compliances including, annual filing, secretarial audits etc.
A BRIEF OF THE KEY OFFICIALS OF THE ORGANIZATION PRASANTA KUMAR SAHU (MANAGING PARTNER):
He is a Law Graduate with MBA in Finance and International Trade and Marketing with additional degree in Export Management. He is the brain behind the compliance services of the organization and is a very well-known face in the said fraternity
RAJAN DUBEY (HEAD OPERATIONS): He has an experience of over 13 years in the legal fraternity. He is an expert of labor laws and Industrial Health & Safety compliance. All the services provided by ComplySoft to its national and international client are being provided under his guidance and supervision. He is also responsible for the implementation of the Compliance software at the client’s end.
SANGEETHA SEMBEIYAN (HEAD QUALITY CONTROL): She is a gold medalist having vast knowledge and experience of twenty years in the field of law with in-depth knowledge on Environmental legislations. She is responsible for research and quality check of the services provided by ComplySoft.
RASHMI VINOD (HEAD RESEARCH): – She is a law graduate having an experience of over twenty years in the legal compliance industry. She heads the research wing of ComplySoft. She is instrumental in mapping the compliance task in the Compliance software and she is an expert as far as legal opinions are concerned. She is also responsible for taking care of the International Legislations for almost 28 countries.
INCEPTION OF THE COMPANY
“During my tenure as a legal head of an organization, I used to face the difficulty of managing the statutory compliances of the company and thus came out with an idea to resolve this problem and thus took birth of the concept of our Compliance Management Services”. Says Prasanta Kumar Sahu. The three key officials Converged to determine the various types of legislation along with their compliance task, its applicability on different verticals of industry and after painstaking work of almost six months they launched Complysoft with the first project of BALCO. After two years of operation, they came out with their compliance software which has been readily accepted by the corporate houses not only in India but overseas as well.
ADAPTIVE TO LATEST MARKET TRENDS
Complysoft always keeps its focus on the changing regulatory environment and updates their clients accordingly. Further, their compliance software helps their client in complying with whatever required on a timely manner, thus keeping the Directors immune to the penalties imposed by the Government Departments for non-compliances.
FORTES THAT MAKES THE COMPANY A TRAILBLAZER IN THE MARKET
The company describes Knowledgebase and the ability to determine the exact legislations along with their compliance task and its applicability to different verticals of industries as their strongest points. Complysoft also keeps a keen look on the regulatory changes happening in the industry. Furthermore, their compliance software comes with an inbuilt compliance task customized to the clients’ requirement which predetermines the compliance task without their assistance.
BREAKING ALL OBSTRUCTIONS AND REACHING THEIR GOALS
During the initial days, like any other business, the company faced a tough time such as the regime change from service tax to GST. This change had a huge impact on their business. But they didn’t break rather stayed patient and within the first half of 2018 they were comfortably placed once again after turmoil of almost 1 year.
FULFILLING CLIENT NEEDS AND ENSURING FAITHFUL RELATIONSHIPS
To run a business, you have to comply with various types of legislation in terms of Labor, Environment, Finance, Direct Indirect Taxation, etc. They do a comprehensive compliance assessment to exactly figure out the compliance status as of the date and the risk associated with such non-compliances, thereby doing a risk profiling of the Directors of the Company as far as the risk associated with such non-compliances are concerned. After that their compliance software tracks the status of various statutory compliances and notifies the top management on a real-time basis for them to take corrective action for any deviation. Finally, the company ensures that all compliances are taken care of thereby helping the company in using their resources in a more productive way for which they are hired.
Further, they flag the statutory compliances well before it attends the non-compliance status through their compliance software for the company to take immediate corrective action in order to ensure that compliance is done. Also, they take the pain out of the company by doing the entire gamut of compliances on their behalf as an outsourced activity.
UPGRADED TO TECHNOLOGICAL TRENDS
One of the chief fortes of the company is their compliance software. Hence, they always try to keep it updated with the assistance of latest version of the programming tools and their in-house IT team. The team constantly endeavors to keep their compliance software error-free and ensure that it does not go down.
AN ENERGIZED AND MOTIVATED WORKFORCE
“When people are financially invested they want a return. When people are emotionally invested, they want to contribute”. ~Simon Sinek
Without efficient and enthusiastic employees, a company cannot do any wonder. Complysoft tries its best to make their work environment exuberant which helps bringing down the pressure to meet the quality of the work and deadline set by the client.
ACHIEVEMENTS TO BE APPRECIATED FOR
The company has had the opportunity of working with some of the most vibrant and diversified industry group in India, Sri Lanka and Nepal. The company has served companies like Nokia, Cognizant Technologies, Patanjali Ayurved Limited, Nagarro, Hella India Automotive Pvt Ltd, IPGCL, Sunbeam Auto, Kohler, Orchid Chemicals and Pharmaceuticals Ltd, Mayur Uniquoters Limited, Wheels India Ltd, Balco, Renewpower, Manpower Group, Amplus solar, Print care Plc and its group Companies (Sri Lanka), Marie Stopes, Honda Motors etc. Complysoft had a commendable turnover of INR 42 lacs F.Y 2017-18 which grew to INR86 Lacs till date in the FY 2018-2019
GLORIFYING FUTURE PROSPECTS
Complysoft has diverse knowledge and experience which paves the way for it in becoming one of the game changers in Compliance Management Services. Looking ahead the company is looking for good investors for the company that can aid them in becoming a “one-stop-shop” and pioneer of Statutory Compliance related activities