NEED TO MONITOR REGULATORY RISKS
While regulators maintain that their intentions are not to increase levels of enforcement but to encourage improved risk awareness, the actions on the ground are contradictory. One of the most challenging methods employed by regulators is the use of personal attestations, which is seen as a good way to get Key Management Personnel’s (KMP) attention.
With increased KMP’s liabilities, all eyes are on CROs who, on the other hand, have to juggle with many operational challenges while keeping the risks at bay.
Multiple legislations and regulators
Understanding of Legal Obligations
Increasing Risks & Legal complexities
Data Consolidation & Management
Segregation of Roles & Responsibilities
Fragmented and inadequate reporting
LAWRBIT VALUE PROPOSITION
Lawrbit Global Compliance Management Software integrates Regulatory Intelligence & Legal Technology with support from 100s of Legal Partners globally
The application helps businesses create a centralised monitoring framework and an integrated approach to proactively manage Regulatory Risks across an extensive range of compliance obligations from all laws applicable on business; enabling businesses to efficiently manage cross geography, functional and industry mandates. It brings all stakeholders involved including CXOs, Board, Functional heads, Compliance owners and Auditors on same page in terms of understanding of regulatory obligations and handle them more confidently; all through a Single integrated application.
Lawrbit delivery model for Compliance Monitoring stands primarily on 3 pillars:
GLOBAL REGULATORY INTELLIGENCE
Lawrbit Global Regulatory Intelligence is created and continuously updated with regulatory changes through collaborative efforts of legal experts globally. Lawrbit provides a centralized repository of Regulatory Obligations, Legal Documents, Key Legal Terminologies, Regulatory Changes that can be commonly accessed by everyone across the firm including partners, managers, auditors, etc.
70++
Countries Covered
85,000++
Regulatory Bodies
2,100+
Laws & Rules Mapped
1,00,000+
Obligations Mapped
SALIENT FEATURES
- Single repository of applicable laws and regulations for businesses across globe
- Mapping of compliance to risks matrix basis penal provision & internal guidelines
- Modular approach buckets compliance basis nature - One Time, Recurring, Ongoing & Event Based
GLOBAL COMPLIANCE NETWORK
Our innovative engagement model to partner with Legal and Accounting firms gives us scale and agility to faster engage & deliver even in jurisdictions where we currently don't have any presence; effectively allowing us to serve clients anywhere in the globe.
The network brings strong domain expertise and noteworthy commitment that lends highest credibility to the Regulatory Intelligence inbuilt in our compliance management solution. While working with global clients to provide single point solution for compliance requirements, availability of credible partner channel help us improve client’s confidence, reduce delivery timelines and costs.
100
Legal &
Accounting Partners
500
Lawyers &
Accountants
ENTERPRISES CAN LEVERAGE LEGAL PARTNER NETWORK
- Trusted Local advisor to support solution implementation, ensures comprehensive legal coverage
- On call support for legal queries from any global location within stipulated timeframe
- On call support for legal queries from any global location within stipulated timeframe
- Long Term engagements with Law Firms ensures business continuity and cost predictability
INTEGRATED SAAS BASED TECHNOLOGY PLATFORM
Enforce Compliance Culture Across Organisation
- Scalable technology, configure multiple business, legal entities across geographies, locations, businesses in a single application instance with option to scale up or down anytime.
- Role-based dashboards provide clear visibility into ongoing compliance efforts and high-risk areas. Build complex workflows for seamless coordination between internal and external stakeholders.
- User friendly application with integrated Chat and Issue Management module to simplify lifecycle of issue from recording to resolution; maintains central repository of issues.
- Collaborate across functions, external stakeholders. Configure service providers, vendors to efficiently and effectively manage 3rd party compliance obligations; create recurring pre & post compliance tasks across functions and stakeholders with action trails.
Reduce Risks with proactive monitoring & controls
- Multi level ownership matrix for every compliance obligation with user specific automated alerts, notifications, reminders & escalations ensures no compliance are missed.
- Customised dashboards for management stakeholders including Board, Directors, CXOs, Function and Location Heads; basis access rights granted.
- Heat Maps, trend charts, graphical reports, dashboards with drill-down capabilities deliver real-time information on compliance ownerships, status with a single click.
- Integrated Audit Module for Internal Auditors; assure compliance adherence to the Board. Configure multiple auditors basis location, area of expertise, allows external auditors, create audit framework, gaps identification & remediation and automate Board reporting.
Secured Application and Infrastructure
- High configurable application; allows flexibility to control rights of menus, reports for various individuals, create personalised workflows basis maturity or criticality of function or user.
- Strong access controls, user views, role-based landing pages, and tabs for initiating actions, responding to events, managing to-do lists, and viewing reports and dashboards.
- Multiple control and checkpoints to ensure your compliance data is visible only to autorised users including Process level controls, document level confidentiality tags, no data access to system admin, etc.
- Hosted on Amazon (AWS) data centres in India; option to host client data on any AWS location across 60+ Availability Zones within 18 geographic Regions globally; in compliance with data localisation requirements.
