Arithra

Non-compliance a serious challenge to growth

Leadership on compliance by the board and senior management sets the tone in an organization. The board is ultimately responsible for developing, administering, and monitoring the compliance management system to ensure regulatory and statutory compliance.

Effective compliance management system is commonly comprised of three interdependent elements:

• Board and management oversight
• Compliance program
• Compliance audit

When all elements are strong and working together, an institution will be successful at managing its compliance responsibilities and risks both in the present and in future. The formality of the compliance program is not as important as its effectiveness. This is especially true for small institutions where the program may not be in writing but an effective monitoring system has been established that ensures overall compliance. Regardless of the degree of formality, all organisations are expected to manage their compliance programs proactively to ensure continuing compliance. Compliance efforts require an ongoing commitment from all levels of management and should be a part of an institution’s daily business operations.

Most organisations, especially in the mid-market segment have been relying on manual systems to manage and monitor their compliances.  Since the compliance requirements have started becoming more complex and stringent and the cost of non-compliance, both monitory and non-monitory, has started going up, companies are beginning to realise that the manual systems do not provide clear visibility into organisation’s risk and compliance profiles. In fact, manual systems bring down efficiency and escalate the risk of non-compliance.

We have built, NAVIGO, an effective and efficient Compliance Management System to address the above-mentioned concerns and enable mid-market companies to manage the regulatory and statutory compliance requirements

Navigo enables companies to not only ensure compliance and better corporate governance but also in maintaining and Improving operational efficiency and ensuring that the companies avoid fines, penalties, prosecution, imprisonment and show cause notices

Our Value Proposition

Identify regulatory and statutory compliance requirements applicable to organisations and implement a compliance management process for effective oversight.

Design and implement a compliance management policy for effective oversight and reporting of critical non-compliances