Risk & Compliances Officers globally are putting 1000’s of man-hours to collate Global Regulatory Intelligence relevant to their business and even more time to track changes without dedicated research team experienced in global regulatory framework; thus increasing costs of compliance and risks of non compliance.
Lawrbit Global Regulatory Intelligence is created and continuously updated with regulatory changes through collaborative input of 1000s of legal experts from 100+ law firm across 70+ countries. Lawrbit provides a centralized repository of all required regulatory know how that can be commonly accessed by Compliance Officers, Functional Users, Management, Board of Directors and Auditors.
Lawrbit's e-library cuts across jurisdictions, domains and area of laws. With our ever evolving library, we strive to provide coverage of all laws, regulations in practice.
Processes and technology have been designed to ensure client gets a customised library of laws applicable on its business. Wherever Regulatory Intelligence doesn't cover laws available on the client's business, legal research team works with client and law firm partners to produce the same within agreed timelines.
Technology . Domain Expertise . Local Validation
Process of library creation is supported by backend technology to ensure usage of standard formats, multi level quality checks, audits and timely updates are available. Privilege rights are designed for various user types to enable cross border coordination and contribution from various experts while creating the e-library. Laws are compartmentalised in various sections to further identify compliance obligations and its nature.
Periodic . Continuous Process . Automated
Our legal research team works round the clock to capture changes in laws through notifications, amendments, circulars, etc issued by the law enforcement authority through their website, advertisements, etc. A thorough impact analysis is done of each such changes and relevant section of the law and compliance impacted are updated. Lawrbit also allows its partners, clients, freelancing legal experts to share legal updates, regulatory notifications and contribute towards continuous updation of regulatory intelligence.
Compliance can broadly be classified in 4 categories and all of these have to be complied differently from others. Simply classifying them into a general compliance task can increase risks of it being missed. Lawrbit’s Regulatory Intelligence provides comprehensive coverage and customised process for each category of compliance.
Compliance Modules in Lawrbit Regulatory Intelligence
The licenses, approvals or registrations required during commencement of business, office, service, product line, etc under various laws are termed as “One Time” compliance. They are designed to appears in loop basis the date and duration of approval granted.
The biggest worry of any CXO are "Recurring" Compliance to be filed under various laws on monthly, quarterly, bi-annual or annual basis. While every process owner is aware of its are pre-set compliance obligations, not having a consolidated, vetted, calendar covering all laws adds to the concerns. These compliance are designed to be auto triggered on due date in owner’s calendar.
Every law defines various provisions, guidelines, procedures every business has to follow, but usually they are hidden in finer prints and are understood either by SME’s or unearthed during an external audit. As these are to be followed throughout the They are termed "On-Going" compliance are designed to be get triggered as self assessment surveys. Usually organisations miss these compliances
Event Based compliance are subsets of advisory module. Its been designed to solves the most complex compliance puzzle on a click, enables system generated intelligence that helps identify the compliance requirements across all applicable laws, auto assign them to relevant stakeholders creating auditable trail to ease compliance certification.
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