Komplify- Simplifying Compliance for Growing Businesses
The complex nature of compliance and the perils of avoiding it have been discussed at length in the previous two blogs. We are sure that many of you have experienced this first hand in your day-to-day business dealings and wondered what the solution is. At Lexplosion Solutions Pvt Ltd, it has been our constant endeavour over the past decade to help Indian businesses with finding simple but efficient solutions to their compliance problems. Our latest innovation is Komplify, a digital compliance kit tailored to help small and medium enterprises (SMEs) manage their compliances without involving lawyers, chartered accountants or a dedicated compliance team.
Komplify has more than 5000 critical compliances in its master checklist applicable to SMEs across industry clusters and states. These cover registrations; approvals; consents; clearances; renewals; filings and record maintenance matters across the following modules:
- Taxation: Income Tax; Service Tax; Customs; Excise; VAT; Entry tax; Entry tax etc.
- Corporate Compliances: Companies Act; SEBI; FEMA; LLP Act; Cooperative Societies Act etc.
- Labour and Employment: Provident Fund; Contract Labour; Minimum Wages; Payment of Wages; Prevention of Sexual Harassment etc.
- Environment Health and Safety: Air Pollution; Water Pollution; Noise Pollution etc.
- Industry-specific: Factories Act; Legal Metrology Act; Information Technology Act; Drugs and Cosmetics Act; Food Safety Act etc.
Identify Laws Online
As explained earlier, every business has to function within the paradigms defined by Central, State and Municipal Act as well as many Central Acts read with the Rules of the state in which the business is located. By responding to a simple online questionnaire, Komplify allows you to access these laws â€“ classified into the ones that are definitely applicable to your business and ones that may apply to your business. You can read the summary of the laws; the key compliances; and the penalties associated with you and take a call on which ones you want checklists for. All this for free! Once you select your laws, you can on a payment of a small annual fee, get all your associated compliances in simple language in the form of an online checklist. And that is just the beginning.
Easily Manage Compliances
Even if your business is spread across multiple states, managing the compliances for each unit is a cakewalk through Komplify, as it shows the applicable compliance checklists by business unit. You can define your compliance users online and allocate compliances to them accordingly, simply with a few clicks of the mouse. Once done, getting alerts; doing ongoing internal audits; and generating management reports hardly take any time. The software also features a calendar that manages your compliances, leaving you free to focus on operational optimizations.
Ahead of Time Alerts
Keeping in mind the busy schedule of entrepreneurs, we have included the feature of ahead-of-time alerts. It allows you to receive email alerts well before the compliance date. You can keep track of the compliances due, thanks to the alerts shown on the calendar. Any changes to existing compliances or implementation of new laws would be intimated to you, thereby helping you stay up-to-date on legalities.
Real Time Compliance Status
Komplify allows you to generate customized compliance reports, which would be of great help when you compile the compliance report to be presented with the Annual Report of your company (as per the Companies Act, 2013). You can slice and dice it according to operating units and the nature of compliance users. Procuring compliance certificates online without having to spend hours and a lump sum on it is also possible through Komplify.
Apart from being a multi-benefit tool, Komplify is easy-to-use and time saving. All it takes is 10 to 15 minutes for you to fill out a form with your company details, and your user account will be created. Thereafter, you can view all the compliances applicable to you.
You can get started for free and pay a nominal subscription fee to get your compliance management system in place and have your business running like clockwork.