Why Software for Compliance Management ?

The cost of compliance is far cheaper than the cost of non-compliance. You could lose your identity if you don’t

Why Software for Compliance Management ?

The cost of compliance is far cheaper than the cost of non-compliance. You could lose your identity if you don’t comply with law of land. In India, every business needs to comply with many regulations including :

1.     Income tax compliance

2.     GST Compliance

3.     Shop & Establishment Act Compliance

4.     Provident Fund Compliance

5.     Professional Tax Compliance

6.     Factories Act Compliance

7.     Reserve Bank of India Compliance (RBI Compliance)

8.     SEBI compliance

9.     Listing Compliance / LODR Compliance

10.  Companies Act Compliance / MCA Compliance

11.  LLP Compliance

12.  FSSAI compliance

13.  Insurance Compliance / IRDA Compliance

14.  Contract Labour Act Compliance

15.  Labour Compliance

16.  Factory Compliance

17.  Fire Compliance

18.  Water Compliance

19.  Pollution Compliance

20.  Secretarial Standard Compliance

21.  Road Safety Compliance

22.  Warehousing Compliance

And within these regulations, there are more than 100 compliances under each regulation. It’s humanly impossible to remember every compliance and with growing businesses and multiple people responsible for compliance businesses must go for compliance software to avoid the risk of missing out on any compliance resulting in financial penalty, loss of business, loss of reputation, and in extreme cases imprisonment for non-compliance.

India is a federal country that thereby makes the Statutory Compliances split into Central and State compliances as well. As the business complexity is increasing and significant initiatives by the Government towards digital compliances and online filings, it’s impossible to follow the traditional route of managing compliance and regulatory filing functions with the use of Excel sheets or noting down in diaries. In addition, the amount of compliance has been increasing with the passage of time over the years, thereby creating an additional burden for all types of businesses to comply with these ever-increasing compliances.

Therefore, all forms of entities viz. Companies, Firms, Proprietorships, etc have to spend a considerable amount of time complying with the laws of the land.

 

Technology Innovation is the key to managing scale, minimizing errors and enabling smooth workflow

 

Volody software products are well designed and made for corporates and practicing professionals to run their businesses with no fear of missing any compliance or error in any secretarial, legal, tax, or compliance management.

These products include:

 

Secretarial Automation Software

  • Preparation of Corporate Records (Minutes, Agenda, Notices)
  • Auto Preparation of MCA forms
  • Filing of MCA forms
  • Auto Preparation of Company incorporation documents
  • Secretarial Standard Audit
  • Auto Preparation of Registers
  • Access to all important regulations, acts & rules
  • Centralized & Organized storage of data
  • * Word download facility
  • * Compliance Management System
  • * Document upload & storage facility

 

Board Meeting App (Paperless Board Meeting)

  • Communicate with all stakeholders
  • Web-based application
  • Share Notices, Minutes, and Agenda with Board Members and stakeholders
  • Comments facility for Board members
  • Calander scheduling
  • Secured documents flow
  • Editing, Notifications
  • Anywhere access to Board folders
  • Auto sync to all devices

 

Compliance Management Software

  • Organization-wide management of all compliances
  • Listing of all compliances for various acts applicable to your entity
  • Responsibility matrix of all users responsible for ensuring compliance
  • Reminder emails to all users before the deadline to ensure no compliance is missed
  • Escalation to seniors so that any non-compliance gets escalated
  • Dashboard to see the compliance scorecard
  • Availability of various acts
  • Communicate with all stakeholders

 

Litigation Management Software

  • Listing of all open & closed legal cases/litigations in various courts
  • Admin function to allocate/assign work to a team member
  • Information on other party names
  • Information on the cause of litigation
  • Information on the advocate of another party
  • Information on the department responsible
  • Information on the Legal Team responsible
  • Information on the Advocate handling the case
  • The cost of each hearing and money spend details
  • Information on the development of the case in past and future dates
  • This reminder to all concerned for the next date of the case, a reminder for updating the proceeding of a past date
  • Information of relevant section, law being applied while filing the case
  • Information to insert details of past judgments of similar cases
  • Information on the name of the court and name of the judge
  • excel upload facility
  • excel / word/pdf download facility
  • Dashboard giving MIS / info on cases
  • MIS reports / Financial MIS on possible liability or money incurred on the case or overall spend

 

Contract Management Software

  • Listing of all open & closed contracts/agreements signed by the company
  • Admin function to allocate/assign work to a team member
  • Information on the department responsible (Business / HR / Technology) within the Company
  • Information on the Legal Team responsible (name, contact number, email id)
  • Information on Law firm part of drafting or vetting, if any (name, contact number, email id)
  • Spend on legal drafting
  • Information on the indemnity clause
  • Information on maximum liability
  • Start date of the contract
  • The expiry date of the contract
  • Reminder to all concerned for the expiry of the contract (you can set reminder date with 30 days / 60 days etc)
  • Escalation reminders to seniors in case the contract is not renewed
  • Update the field for users to provide updates on legal agreement renewal
  • Commercial terms of the agreement
  • Information on name, email, and contact number of other party in the contract agreement
  • excel upload facility
  • excel download facility
  • Dashboard giving MIS / info on all agreements
  • MIS reports / Financial MIS on possible liability or money incurred in drafting legal contracts from external law firm

 

Tax Compliance Software

  • 1. Simple utility to prepare an Income tax return.
  • 2. Auto tax computation.
  • 3. Know TDS thresholds with a single click
  • 4. Prepare and file TDS return in 5 simple steps.
  • 5. Prepare TDS returns via a simple Excel upload utility.
  • 6. No need to download challan CSI file and FVU validation.
  • 7. Prepare revised TDS return in only 4 steps.
  • 8. Save all your registration, calculation, and return of all types of taxes in one place.
  • 9. Upcoming module –  GST

 

 

Business ERP

Cloud-based Business Management Software

 

  • Internal Task Allocation / Operations Management
  • Managing customer leads
  • Sending proposals
  • Customer interactions (email/chats with customers)
  • Customer Invoicing
  • Collection update
  • Employee performance management
  • Customer profitability/business unit profitability
  • Email Management with employees
  • Project Management
  • Accounting of revenue and collection
  • Business MIS as per your need

 

Legal Agreement Drafting Software

  • Preparation of legal agreements
  • Preparation of Due Diligence reports
  • Creation of Case Notes
  • Centralized & Organized storage of data
  • * Word download facility

 

Please sign up for a free demo at www.volody.com.

Please do write to connect@volody.com

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