Compliance and ethics are two of today’s highest risk concerns, and are at the forefront of many organization’s business plans. As tech evolves, so does the compliance landscape, keeping up can prove quite the challenge for many businesses. Headquartered in Delhi, with years of back end work and versions of product launches; LexComply was launched in year 2015. Gaurav Jain, Founder of the company, while advising 500+ corporate clients across India for Corporate Law Compliances, Due Diligence, M&A, VC Funding, etc; realized the need of a strong technology driven Compliance Management Solution that marries legislative knowledge repository and technology. In a span of 3 years, the company has launched 4 innovative SaaS based risk and compliance management solutions and two advisory portals. LexComply aims to bring accountability and transparency and enables clients to know, delegate, report, monitor & manage their regulatory compliance & internal controls in a simple and effective manner.
Furthermore, the company is creating long term vision, and commitment towards its stakeholders to motivate Corporate to do Compliance for a Cause. Cause is to promote the well being of society by complying with laws prescribed for products and environment. It also includes to promote the well being of employees by complying with Labour Laws, Environment, Health and Safety and consequently, to promote economic
growth of the Company by imposition of
various penalties, and better sales because of better product and good industrial relations. LexComply, as an organization, is committed to fill the gaps in Compliance Management whether gap is of legal, technology or of skill set. The whole idea is to make the people to believe in doing compliances for achieving growth whether that of Corporate or Individual or Social.
" LexComply helps corporate not only to manage their statutory compliances but also their internal reporting, controls and deadlines"
In addition, LexComply helps corporate not only to manage their statutory compliances but also their internal reporting, controls and deadlines. The compliance enabler is proactive in its approach in identifying and prompting the relevant compliances to relevant person at relevant time along with integrating, managing and updating the entire ecosystem of compliance in an organization. Its a ready to access online repository of all the compliances proofs, reports, library and legal updates.
A Clearer Picture of the Compliance Needs
LexComply plays a key role in combining the analytics and visualization areas of an organization with Inter-departmental Dependencies, Compliance Reporting Requirements, changing Governance landscape, and Managing Legislative. LexComply brings all the departments and consultants to the company on single platform wherein compliances, i.e., One Time, date based, Event based and Ongoing are prompted by system to all the users and generate dynamic reports for the leadership on real time basis about the compliance status.
Moreover, LexComply team comprising of legal professionals, having experience in various subjects keep the system updated of legislative changes and the system prompts the relevant user about the legislative changes of the domain promptly for necessary action. Various corporate action triggers inter departments system which requires
compliances to be done by multiple departments at multiple locations. Hence, this compliance management solution provider, LexComply is completing the communication chain and integrating the users in relevant manner.
Solid Figures Testifying the Experience
Currently, LexComply has data of more than 30k compliances across 485 plus regulations covering Central and State laws and its growing day-by-day. LexComply’s resources named Lex Library is recognized as one of the most comprehensive and unique library in its space. Its exceptional features help companies to face risk in this industry. Some of the characteristics are: ease of implementation and use, comprehensive legal knowhow, right time updation, 30000 plus compliances, dynamic dashboards, secured access and data base, most exhaustive coverage of event base compliances i.e. more than 1300 corporate actions, personalized training sessions, third party compliance facilities, Internal Compliance Management and Auto Sync with Outlook.
Having achieved such levels of excellence and numbers in this domain, LexComply is implementing compliance management for a mid size corporate in a manufacturing company based out of a small town in Rohtak to solve the bottlenecks and achieve-list of all relevant laws and compliances, meet certain key registrations, allocate the compliance responsibilities more professionally, deposit certain process which were no longer applicable; and most important, users got access to new technology and legal to increase their skill set. In future,company is planning to increase its outreach to professionals and corporates in India and International Geographies through its various innovative tools like LexComply, registrationsandapprovalos.com and mycorporatedecison.com and many more. LexComply wishes to be a part of users’ library, systems and mobile in order to build a strong relationship to solve their compliance problems and enable them to grow.