The Compliance Management Tool has a reservoir of compliances, which can contain all relevant compliances for a business and which can be made available by any competent agency or agencies like Law Firms (For Legal Compliances), Chartered accountants for FCRA and Taxation compliances. The base data in the reservoir contains majorly following details:
Compliance Description: Stating the nature of the prescribed compliance.
Compliance Timeline: Stating the time-lines for completing the compliance.
Periodicity of Compliance: Stating the periodicity of undertaking and completing each compliance.
Person Responsible: The compliance is handled through the login of Responsible Person Only.
The compliances in the reservoir are tagged as:
National Office: To be handled at Head Office Level.
Branch: To be handled at Branch Level.
NO/Branch: To be handled at both Levels.
The compliances are divided into three broad categories based on their applicability:
Each Compliance has been prescribed for the applicable penalty for Non-compliance with the applicable provisions of each legislations and have done a risk categorization for each non-compliance on the basis of the following key: :
High Risk: Compliances, contravention of which may result in imprisonment; Shown with a RED dot against the compliance in the software
Moderate Risk: Compliances, contravention of which has no definite penalty but may result in reputational loss and/or litigation and/or additional reporting to authorities, for SOS; Shown with an Orange dot against the compliance in the software.
Low Risk: Low Risk’: Compliance, contravention of which may result in imposition of monetary penalty, Shown with a Green dot against the compliance.
SWIFT Compliance+ has a comprehensive dashboard which displays Information in following containers:
Upcoming Compliances (This Week, This Month, Next Month)
Over Due Compliances
Complaint (This Week, This Month, This Year)
Compliances handled after Due Date
Upcoming Compliances (This Week, This Month, Next Month)
Approved (This Week, This Month)
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COMPLIANCE + - THE COMPLIANCE MANAGEMENT WEB APP FOR NON PROFIT ORGANIZATION
The Client and their Business RequirementsThe Client is the India Chapter of a very popular Austrian Not for Profit Organization which specializes in orphan child care and livelihood the country. They have and manage more than 40 pan India establishments which house the orphan children who are being taken care by mothers, coworkers and mentors. Each establishment has as many as 200 children.
The ProjectThe compliance management is an integral and essential part of any business. Irrespective of nature of business/profession or operation, compliances which are essentially been imposed by government has to be managed and any noncompliance or delays attract penalties. The client’s operations in this case are very closely governed by many laws and compliances which prior to implementation of this solution were being handled through excel sheets and manual working at each control level.
The ChallengesThe client has pan India operations and have many offices and operation centers. For each of the office and center there are varied type of challenges were being faced:
- Because of the pan India operations and distributed responsibility centers it was difficult to manage the compliances at one place.
- The responsibility of managing the compliances primarily is on the center in-charge who is otherwise busy in many other critical issues also. This used to pose threats of noncompliance, at times of very critical compliance also.
- Since the compliances are of varied nature like, Legal, FCRA (Foreign Contribution Regulation Act), Financial (Income Tax Act), different SME (Subject Matter Experts) were to be involved in the compilation of the compliances
- The required software was to have different objectives and interface for different level of people in the workflow
- The software had to support real-time collaboration between different level people using the software
- The business being a NGO/NPO and belonging to child care extra care was to be taken in compiling data and collaborating it in the database and working forms to accommodate all relevant and important information.
- There is much diversity in state based laws fr the operations client involved in and all this variety and diversity was to be managed in one set of application
The UNILINK SolutionAfter understanding the client's exact requirements, and having innumerable number of discussions we devised the following solution in order to ensure the software featured with all the requested suggestions -
- Multiple User Level logins were provided in order to bring in user level work flows
- Data Reservoirs were created in the database where varied type of compliance data can be accommodated.
- Compliances categorized and compiled in a way to be placed in same reservoir with different category tags
- Workflows defined for each category of compliance and alerts were defined through a pre defined Alert Management System. These alerts flows to following user levels:
- First Level User/Initiator at Center (Responsible for defining and Managing Compliance)
- Approver Level Zonal Director
- Escalation Level at National Office Senior Management
- An administrator Level is introduced which compiles and distributes compliances to all beneficiary centers for management
- The central reservoir is created to maintain the uniqueness of compliance and avoid duplication of data at Central Database.
- Facilities given to the users to define their alert system and Dashboards and pie charts created to make the user aware of criticality of compliance pending
- Using the software, users can define periodicity of the compliance and system generates the due dates for management of the compliances.
- The alerts and escalations moves to the different levels through a pre-defined Approval Matrix
- The result was very encouraging and overwhelming as the instances of noncompliance throughout the organization were reduced by as much as 70%.
- Organization is benefitted by see through reservoir of processed knowledge base of the compliances in use throughout all offices/centers
- The senior management is more knowledgeable on the subject matter and penalties out of the noncompliance are avoided by complying well in time.
- The client was extremely satisfied with the overall project quality, and considering enhancements in the product which were recommended by us during the study and design but were put on hold to assess the results of the present phase development