Komrisk

Lexplosion is a market leader in legal and compliance management. Born out of personal experiences of its promoters, all former in-house counsels, Lexplosion™s innovative products and solutions have caught the attention of in-house legal & compliance teams across India. In line with the tradition of our path-breaking solutions for corporate counsels, Lexplosion introduces Komrisk, unique web-based Regulatory Compliance Management software.

komrisk-implementation

Blended with experience of Lexplosion™s senior management and consultations with the industry experts, Komrisk offers practical features and functionalities to compliance management leads in the organization

Compliance Library

  • Industry specific
  • Location (State/ Union Territory) specific
  • Operations specific
  • Segregated into law categories
  • Compliances reported at a micro level
  • Standardized form based data capture interface

Task Management

  • Management of task lifecycles using configurable workflows
  • Calendar view of tasks
  • Automated email reminders for upcoming tasks with inbuilt escalation
  • Monitoring of user action on compliance library, compliance tasks and incident action items

Reporting

  • Real time visibility to compliance status
  • Predefined and customizable reports
  • Data export to CSV, MS Excel, JPEG, PNG and PDF formats
  • Drill-down capability

Search

  • Standard and user defined search criteria
  • Supports Boolean search strings
  • Full text search of all system fields and documents across
  • Compliance library
  • Compliance tasks
  • Proofs of compliance
  • Incidents

Document Database

  • Centralized storage of documents (including proofs of compliance)
  • Display document status and other relevant details
  • Automated version control

Access

  • Role-based access to system modules
  • Screens are designed for faster access over the cloud
  • Multiple access points – browser based & mobile client devices

Delivery Models

  • On premise hosting as well as cloud deployment
  • Flexible licensing and invoicing

Miscellaneous

  • Incident management
  • Subscription management
  • Self assessment surveys
  • Personalization

Low Cost

One of the deterrents towards widespread adoption of compliance management solutions available in the market is the significant acquisition, setup and scale up costs. Komrisk, available to customers in a low cost, subscription model with minimal upfront investment, ensures that the implementation and usage cost is driven out of operating expenses for customers.

Simple to use but still efficient

Easy to understand and use for the compliance manager. Single-source-of-truth for all the compliance related information (statutory forms, compliance actionable, penalties for non-compliance etc) for the users. Other efficiency benefits include faster aggregation of compliance reports, decreased internal audit effort and costs and reduced non-compliance incidence.

Anytime, Anywhere Access

Komrisk gives you an opportunity to access it from any network, any location at any time. Giving you a flexibility to always be in control of your compliance management actionable. Komrisk ensures that your physical presence does not hamper your ability to manage your compliance requirements.

On-demand scalability

Komrisk will ensure that your compliance management is able to scale the heights achieved by your business. Today you may have 100 employees but tomorrow you can have 10,000 employees in 50 different locations. Komrisk will be able to cater to your compliance needs emanating from the business growth within shortest possible time with no extra capital investment .

Lexplosion follows a 2 step systematic methodology for deployment of Komrisk:

  1. Regulatory Environment Analysis:
    1. Identification of applicable regulations
    2. Finalization of compliances
  2. Deployment of Komrisk:
    1. Cloud deployment of Komrisk,

Step I: Regulatory Environment Analysis

  1. Identification of Applicable Regulations
    Lexplosion prepares a preliminary list of Central and relevant State Government regulations (including Acts, Rules, Regulations, Circulars, Guidelines, Notifications etc.) for each of the Company Operating Units (Includes corporate office, development centers, factories, warehouses, representative offices etc) across India. Clarifications will be sought on a need basis for deciding on applicability of specific laws. The finalized list of operating unit specific laws (law library) will be presented to Client for review and sign-off.
  2. Finalization of Compliances
    For each of the identified regulation in the step above, Lexplosion creates a compliance checklist by organizing related information under various heads. The compliances are reported at a micro-level by reading Central Government mandated compliances with specific State Rules to identify exactly what needs to be done by the individual operating units.

Step II: Implementation of Komrisk

Lexplosion offers following two options for deployment of Komrisk for Customers:

Cloud deployment of Komrisk

Lexplosion creates and configures a separate workspace in Komrisk for use by client™s users and where customized compliance content mapped to the applicable regulations will be available for reference and task mapping.

Komrisk is configured to send automated alerts to remind compliance owners of impending task deadlines and escalate to senior management when timelines have been breached. The software also provides the facility to create, version, approve, and archive all compliance documents. Real-time and personalized dashboards relating to user roles and responsibilities provide visibility into the compliance status by various custom filters. Drill down capabilities can be used to review compliance definition, track task ownership, activity history and other finer levels of detail. Being a web-based system, Komrisk can be accessed from the individual location using a standard internet browser.

Lexplosion ensures that the applicable laws are tracked on an ongoing basis and the company specific compliance database is updated to reflect the changed requirements of law.

What is Cloud Computing?

Cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction.

What is the difference between Cloud Servers and dedicated servers?

Dedicated server is a physical piece of equipment housed in the organisation. Cloud computing, on the other hand is a virtual server which allows customization, load balancing, and storage.

Can Komrisk allow me to upload and store proofs of compliance and other documentary evidences in the Private Cloud?

Private cloud is infrastructure operated solely for a single organisation, whether managed internally or by a third-party and hosted internally or externally. Yes, you can opt for Private Cloud. However, this will be available at a higher subscription rate.

Where will information related to company specific regulatory compliances be hosted? Where will proofs of compliances uploaded by company users be stored for indexing, archival and search purpose?

The cloud infrastructure consistently delivers 99.9% reliability. That means that when you need to access your information, it will be there waiting for you. Our systems are engineered to be the most reliable in the industry because we know you need your data 24/7.

How will I be certain that the application and data are secure in the cloud?

Data centers used by us have passed the toughest security certifications in the industry, including ISO 27001:2005, ISO 9001: 2008, and SAS70 Type II. Thousands of customers across industries are using these datacenters.

How easy will it be to scale up or scale out based on business needs and by increasing computing resources or storage capacity?

Whether you have a small, medium, or large-sized company, Komrisk serves companies of all sizes and scales as per your future requirements.

How is Komrisk different from other regulatory compliance management solutions?

Unlike other GRC platforms, KOMRISK is based on a comprehensive repository of Indian laws and regulations. KOMRISK is the only compliance management solution which is backed by regulatory content in India. This repository gets updated at regular interval, therefore, ensures that no new regulation is missed by the organisation.

What will be coverage in terms of the various types of laws that would apply to my business operations?

KOMRISK will address all the relevant (Central and State) compliances. A detailed list of laws and regulations can be obtained by sending a query to inquiry@lexplosion.in

Will Komrisk help in management and monitoring of fiscal (both direct and indirect taxation) compliances?

Lexplosion proposes two options: 1. Lexplosion will work internally and provide fiscal compliances related to registrations and filings only. 2. Lexplosion will work with its Tax Partner to provide all applicable fiscal compliances.

My company has international operations and hence, is, regulated by laws of those home countries. Can Komrisk help me in complying with and deploying adequate controls for the regulatory compliances of those countries?

Not in its current format. Though, we can use a different engagement model to address this requirement.

Will you provide training to all the users of Komrisk?

Every purchaser of KOMRISK license is entitled for a four hour virtual training. Here, we will also like to reiterate that KOMRISK is a very easy-to-use product and requires minimal training. No expert level understanding of IT is required to use KOMRISK. A person who can use a desktop/ laptop and can browse internet will be able to use it.

What are the system requirements for using Komrisk from company desktops and laptops?

You will need following to use KOMRISK:

  • A valid KOMRISK subscription license
  • Desktop/ Laptop with internet connection
  • Web browsers like Google Chrome, Firefox, Internet Explorer 9, Maxthon 3.0, SeaMonkey 2.1, Opera 11.5, and Safari 5.1

Will I be provided with customer support for KOMRISK?

Yes. We will provide 8 hours X 5 days a week email based customer support.

US headquartered Healthcare Service Provider

Indian arm of US listed healthcare service provider has deployed Komrisk for all regulatory compliances for its Pan India operations. Lexplosion deployed Komrisk well within the time limits for this relatively niche sector. Company has plans of leveraging Komrisk for its global compliance requirements.

Global conglomerate

NOur client is a major global conglomerate with operations across different verticals; viz. Power & Gas, Public Transport, Wind power, Energy Management, etc. Lexplosion deployed Komrisk to cover the PAN-Indian operations of the conglomerate.

Global investment management organization with Indian operations

The client is a is a global investment management organization. The client wanted to build a standardized framework for proactive monitoring of applicable regulatory compliances across all the operating units Deploy Komrisk to provide automated framework for company’s regulatory compliances for its operations.