Our Client is 8 decades old logistic company. They have a network of more than 200 branches spread across 7 States of India and a fleet of about 200 trucks specially built for Parcel Transportation. Our client is an approved goods transport company by the Indian Bank Association since the last 30 years.

Our Client did not have online document tracking system which would cover all the branch and operational offices around India.The client was facing serious challenges in day to day tracking of compliances. Here are a few of them:

• No online document tracking system
• Lack of centralised document management repository
• Delay filings which created a legal exposure
• Less transparency in management review of the penalties and interest paid
• Not receiving timely and relevant Legal Updates
• Lot of time spent on getting status of compliances across the company
• Poor awareness of risks arising out of non-compliance among stakeholders

Our client needed a state of the art solution which could help them to automate the entire audit life cycle. It insure standardisation, transparency and consistency in audit approach. They wanted a cloud hosted solution which was easy to implement and did not need any further technology investments.

TeamLease Regtech engaged with the client in XXXX. We conducted a thorough analysis of business activities, entities and locations. A team of subject matter experts discussed the list of applicable laws and compliances with the department head and CXOs.The team spent one week at their headquarters based in western india and interviewed their leadership to understand their business and requirements better.

The implementation of AVACOM (TeamLease Regtech Compliance Automation Solution) was initiated in XXXX, 2017.

Phase 1 - Business Discovery

This phase of the project focussed on understanding their business to establish the applicability of Acts and Compliances. Comprehensive information was collected via in-person interviews / meetings / discussions with the management, individual department heads, and other representatives in the company. The following items were collated:

• Business Set up (Group, Entities, Locations, clients, number and nature of establishments, Industry,)
• Products (Type of Products)
• Equipment & Machines
• Internal Compliances

Phase 2 - Compliance Applicability Assessment

TeamLease Regtech identified several hoists, lifts, weighing equipment, cranes, racks among others. These equipment required proper safety assurance and compliance requirements thereby leading to applicability of different Acts and Compliances.

Our Client was a private limited company and a number of secretarial events and other non secretarial events were also applicable. They had 200 branches across 7 states, hence Factories Act and various other Acts under EHS also became applicable.

The team identified over 62 applicable Acts with over 2,300 applicable compliances including time based and on-going compliances. An additional 750 event-based compliances were also found applicable.

Over a hundred licenses, registrations, permissions, consent to operate orders, approvals were identified. A gap assessment was done and it uncovered several critical gaps between statutory requirement and actual requirements which were to be met by the company.

Phase 3 - Implementation

This phase is the longest and the most critical phase of the project. During this phase, TeamLease Regtech assigned a 4 member team of subject matter experts to work with the client’s project team. This phase lasted about 4 weeks during which the following items were accomplished:

• Map the Client Organisation (Group, Entities, Sub-Entities, Locations, Departments)
• Review of identified applicable Acts and Compliances with respective department heads
• Discussion on identified gaps with department heads and compliance head
• Mapping of Compliances to specific users along with their roles
• Hands on training sessions with user groups based on their locations and roles
• Activation of system for a predetermined go-live date

At TeamLease Regtech, We conducted analysis of client business activities. Since this industry has grown rapidly, so has the compliance requirements.Often, there is no dedicated compliance officer for mid-size companies in the logistics industry. The CXO plays role of a compliance officer as well. As a result, the understanding of applicability of Acts and Compliance is low and they need greater support and assistance in a timely and accurate compliance.

We identify employees who would be the users of this system and play various roles such as Performer, Reviewer, Approver and Management. All the user receive automated reminders, alerts and escalations for the respective compliance allotted to them before the due date. TeamLease Regtech provided internal compliance facility to capture internal compliances relating to renewal of various agreements with various vendors. It helps our client to streamline internal compliance & client migrated from ad-hoc, people dependent and paper based process to Automated programmatic compliance approach.