CLIENT INTRODUCTION
- Founded in 1999, Headquartered in Virgina, United States; the client operates out 19 offices spanned across 10 countries & employing nearly 4,000 employees worldwide
- They have their clientele in more than 100 countries with over 3,00,000 active users that utilizes their software to plan events, search venues, control meeting spend, consolidate member data, design custom mobile apps, distribute surveys and build strategic meetings management programs.
- The client offer solutions for Event Management, Meeting Management, Conference Management, Room Block Management, online platforms that drive Hotels and travel business, etc.
- The Indian entity works as captive knowledge and support centre for clients Global operations; offering services like sales, pre-sales support, development, legal services, etc
THE NEED FOR AUTOMATION & CHALLENGES ON THE WAY
- Having failed to implement Compliance Management Solution once, the functional teams weren’t very convinced with the idea of a second attempt
- Being a US based MNC and in SaaS business themselves, there were very stringent requirements of complying with IT and Data Security requirements
- The client operates with a lean compliance teams across functions, hence there was huge dependence on 3rd party service providers; who should now be on-boarded to the newer method of managing Regulatory Compliance
- Their India business was growing and they added 2 additional SEZ facilities, increasing compliance load, to be managed with existing set of resources only
- The global leadership is highly conscious for compliance obligations; have zero tolerance policy towards any non compliance. They wanted visibility of Regulatory Risks on real time basis
BUILDING BLOCKS & IMPLEMENTATION A ROBUST FRAMEWORK
- Basis thorough due diligence, multiple round of discussions, client chose to implement GCMS in 2018
- It was the time when client opened 2 additional SEZ facilities as their business grew multi-fold.
- The key challenge was to bring every user on common platform and ensure a timely delivery
IMPLEMENTATION PROCESS: STEP 1 – Business Discovery
Our legal experts engaged with client’s functional users in a detailed Business Discovery exercise to identify all applicable laws and compliance on its business
- Researched information available in public domain
- Created function wise custom questionnaire to deep dive into every business aspect
- Locations, Nature of Establishment, Product / Service portfolio
- 3rd party vendors, service providers
STEP 2 – Compliance OBLIGATION
- List of applicable laws shared with client SPOC
- Addressed legal queries of client’s Functional SPOCs
- Identified gaps, suggested remedial actions
- Identified and finalized compliance obligations applicable on the business in consultation with Functional SPOCs
- Finalized Ownership & responsibility Matrix for each compliance obligation covering internal and external stakeholders
STEP 3 – APPLICATION SET UP
Configured basis information gathered
- Location & Department Master
- User Master, access rights for CXOs & Auditors
- Mapping of laws to location & functions
- Responsibility & Authority Matrix for compliance
- Event Trigger Rights & Approval Matrix
- Pre & Post Compliance responsibility mapping
STEP – 4: USER TRAINING & Go-Live
- Multiple in person training sessions for end users
- Follow up help desks to resolve any Post Go-Live issues
- Training Manuals and Ticket Centre
LIFETIME SUPPORT
Client now enjoys the benefits of our lifetime support
- Regulatory Updates are provided on Near Real Time basis without any manual intervention
- Application is hosted on SaaS, so no involvement from client’s IT team for application support
- Technology updates, upgrades and new features are introduced on regular basis
THE IMPACT
- The leadership team at India & Global levels now have better visibility of compliance applicability and control over adherence & residual risk
- Everyone in the organisation is on same page with understanding and sensitivities of compliance obligations
- Organization wide Risk parameters and tolerance levels are fixed and standardized
- Better visibility, transparency and accountability across users; both internal & external
- The initiative was well received and appreciated by the global legal head
- Management’s reliance on analytical dashboards, regulatory updates is high
- Helped client reduce cost of compliance
KEY LAWS APPLICABLE ON CLIENT
| Companies Act, 2013 |
| Goods and Service Tax Act |
| Income Tax Act |
| Customs Act |
| FDI Regulations |
| Prevention of Money Laundering Act |
| Prevention of Corruption Act |
| FEMA Master Direction – Import & Export |
| MSME Act |
| Prevention of Money Laundering Act |
| Prevention of Corruption Act |
| FEMA Master Direction – Import & Export |
| Information Technology Act |
| Telecom Regulatory Authority of India Act |
| The Emigration Act |
| Passport Entry into India Act |
| Employees Provident Fund Act |
| Employees State Insurance Act |
| SEZ Act – Haryana |
| Shops and Commercial Establishment Act |
| Sexual Harassment of Women at Work Place (Prevention, Prohibition and Redressal) Act |
| Payment of Bonus Act |
| Apprentices Act |
| Maternity Benefit Act – Haryana |
| Minimum wages Act – Haryana |
| Labour Welfare Fund Act – Haryana |
| Inter State Migrant Workmen Act |
| Fire Service Act – Haryana |
| Private Security Agencies Act – Haryana |
| EHS Laws – E-Waste, Non Biodegradable Medical Waste, Batteries Management, etc |
| & More |
