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Challenges
- Scalability of the compliance management process to meet the needs of a fast-growing business and track the compliance status for each location.
- Unstructured and disintegrated record maintenance and the absence of a real-time compliance management system.
- Unawareness about the best practices to ensure 100% compliance.
The Implementation
- Conducted pan-India Statutory Compliance Audit.
- Provided continuous consultation and support for implementations.
- Provided access to Compliance Portal and online repository of registers, returns, challans, notice documents, and audit reports to view/download them location-wise for any period.
Key Results
- 100% risk mitigation in a timely, transparent and accurate manner
- Brought scalability and ease to compliance management through digitalization
- Prevented noncompliances with potential fines of up to INR 45 Lakhs