Indiamart is India’s largest online B2B market place for business products and services. The channel focuses on providing a B2B platform to Small & Medium Enterprises (SMEs), Large Enterprises and Individuals.
Indiamart implemented Lawrbit's GRC Solutions for 6 group entities: Indiamart Intermesh Ltd. - a listed company, 4 wholly-owned subsidiaries and one associate company.
With listing, group intends to expands organically and inorganically.
Indiamart decided to implement Regulatory Compliance Management Solution while preparing for IPO. They anticipated IPO will opens make corporate governance more complex and company has to further strengthen the structure both from Regulatory as well as Stakeholder’s perspective.
Having experience and seasoned Legal team who have in their previous experience worked with most of the Compliance Technology providers in India; the challenges experienced in such implementations were known. After thorough evaluation of few service providers options; Indiamart chose to implement following solutions from Lawrbit
Business Understanding – Implementation team shared a detailed questionnaire with client covering company type, business operations, functions, products, services, locations etc. to help identify the applicable laws. Taken inputs from departments, functions and location SPOCs.
Basis inputs from client, lawrbit implementation team shared list of acts applicable on the organization covering all the aspects of business, locations for which solution needed to be implemented.
Client’s SPOCs shared responsibility, authority & escalation matrix for each compliance and corporate event activated in the GCMS. Performer >> Approver >> Group Owner
Application hosted on AWS server and dedicated instance was created for the client. Basis information gathered implementation team configured the master data of users, locations, functions, responsibility matrix for the compliance finalized . The user activation done through a secured link provided and users were supported for their account activation by the support team.
Indiamart enjoys benefits of our lifetime support
| STATES | CITIES |
|---|---|
| Delhi / NCR, Uttar Pradesh, Haryana, Maharashtra, Gujarat, Tamil Nadu, Punjab, Chandigarh, Karnataka, Rajasthan, Telangana, Madhya Pradesh, West Bengal, Kerala | Ahmedabad, Vadodara, Rajkot, Surat, Vapi, Jamnagar, Mumbai, Pune, Nashik, Nagpur , Chennai, Coimbatore, Madurai, Tirupur , Noida, Ghaziabad, Meerut, Kanpur, Lucknow, Agra , Gurgaon, Faridabad, Panipat, Ambala , Ludhiana, Amritsar, Jalandhar, Chandigarh , New Delhi , Bengaluru / Bangalore, Jaipur, Jodhpur, Hyderabad, Bhopal, Indore, Kolkata, Cochin, Dehradun, Guwahati, Raipur |
MANOJ BHARGAVA (Sr. Vice President - Legal & Secretarial), Indiamart
“Establishing a comprehensive compliance tool in a group spanned across 6 legal entities, having offices across the country is not easy without clear vision, consistent approach & agility to manoeuvre; Lawrbit could achieve this with our consistent support.
Having worked on many compliance & litigation solutions in past, what I liked is their easy user interface, seamless integration with Regulatory Intelligence & real time updates, analytical dashboards for the management.
The holistic approach of Lawrbit GCMS towards compliance; bucketing them in types, categories gives a comfort that we have control on compliance across the group. The team is proactive, helpful and has positive attitude towards our requests.”
THOMAS P. JOSHUA (Asst Vice President - Legal & Secretarial), Indiamart
We were in process of listing Indiamart when we on-boarded Lawrbit. The team worked hard to meet deadlines even when we had lesser bandwidth.
The details provided for each obligation, event based compliance, integrated Ticket Centre, Real time regulatory updates, Risk based approach and colour coding for each risks are their USPs.
We’ve provided many feedbacks to Lawrbit’s legal & tech teams; they’ve been open, responsive and included our asks as part of their upgrades. The team is approachable, customer centric and endeavours to implement our suggestions in adherence to TATs.