Aparajitha is set for its acquisition journey of

 Aparajitha is set for its acquisition journey of 

consolidating robust compliance platforms

 

Aparajitha, India’s largest compliance service provider, is all set to expand its growth and business outlook with the newer acquisitions and consolidating future tech-enabled compliance platforms. The company has set expansion goals in the coming years, envisioning to become the leading player in the compliance segment in India. 

 

Focussing on the Labour, Employee, and Industrial (LEI) and Environment Health and Safety (EHS) related compliance services, Aparajitha presently has strong Pan India domain expertise in Central and State laws pertaining to employees, Labour, Industrial, and EHS regulations. Aparajitha has over 1,700 employees on its rolls and a presence in 25 Indian States, with over 1,750 clients ranging from Fortune 500 companies to MSMEs.

 

Aparajitha has recently acquired a strategic 76% equity stake in Simpliance Technologies, a subsidiary of Quess Corp. With the acquisition, Aparajitha consolidates all their tech products under the brand name ‘Simpliance’, rebranding ‘Compfie’ to ‘Simpliance’. This enables combined operations, facilitating a more powerful and automated compliance knowledge platform for all the tech and services offering by Aparajitha across the country. This is the second acquisition by Aparajitha in four months, after the acquisition of the business / select assets of Comply India Tech Services Private Limited in June 2022.

 

Speaking on the company’s vision, growth, and expansion plans, Mr. Nagaraj Krishnan, Managing Director of Aparajitha said, “As Aparajitha consolidates with futuristic business and newer compliance platforms, we assure to create the country’s largest regulatory and efficient Compliance Solutions with quality and integrity. We are glad and excited to announce our recent acquisition with Simpliance, where we believe to bring the best of the services from both companies with world-class digital solutions to the clients combined with high-quality full assurance compliance services on the ground.” 

 

“We are glad to be part of Aparajitha’s expansion and to associate with them in the rebranding of their promising product Compfie to Simpliance GRC. With the acquisition, we offer comprehensive technology and data-oriented compliance solution with digital tools. We believe that Aparajitha-Simpliance can emerge as an undisputed leader in the compliance segment with strong regulatory domain expertise in India and other regions,” commented Lt Cdr Anil Prem D’Souza, Chief Executive Officer of Simpliance Technologies Pvt Ltd. 

 

Promoted by Dr. Bharath Krishna Shankar and Mr. Nagaraj Krishnan, Aparajitha is part of Xcelerate Pte Ltd, a Singapore-headquartered GRC / ESG operating and investment platform. Xcelerate has a clearly defined roll-up strategy to bring together world-class management teams, cutting-edge technologies, and domain experts to offer comprehensive solutions on a regional basis in the GRC / ESG segment.

Technology to be the Game Changer for Corporte Compliance in

 TECHNOLOGY TO BE THE GAMECHANGER FOR CORPORATE COMPLIANCE IN INDIA IN 2021: APARAJITHA

 

 Reassessing the priorities for the future

 

With increased regulatory changes and the ‘new normal’ brought forth by COVID-19, Corporate Compliance is all set to become a little more challenging than it used to be earlier. One major trend to watch out in 2021 will be the substantial increase in digital transformation in terms of automation and simplification of compliance-related processes. Technology in compliance management can immensely aid in keeping organizations compliant. In and after 2021, businesses will need to adopt a holistic approach by aligning the compliance strategy into the overall business strategy, feels Nagaraj Krishnan.

 

Working on anticipating change

 

Every year, new laws and policy changes are adding to the complications in compliance operations across industries in India. Steering through the ever-changing regulatory scenario has been a perennial challenge for Corporates across sectors. To gain and sustain a competitive advantage, progressive approaches to compliance management are imperative.

 

Organisations these days have to deal with a wide range of issues that hinder the efficacy of compliance practices. Some of the most pressing issues faced are the following…

 

          Manual and time-consuming compliance processes

          Inability to keep pace with regulatory changes

          Ad hoc approach to governance and risk management

 

 Raising concentration on transformation initiatives

 

Corporates need to have a deep understanding of why it's important to stay up to date on compliances. Putting technology into the compliance management process can help organisations manage and comply with constant regulation shifts proactively. Going forward, companies will necessarily need to adopt path-breaking governance and compliance methods. Such methods will not only enhance operational efficiency but also facilitate decision-making.

 

Co-creating scenarios for the future

 

Internal and external audits are essential to ensure full compliance with the governing laws and regulations. However, the usual audit process with the auditor(s) being physically present poses a risk in terms of health and safety, as we are still not completely out of the COVID-19 shadow. Also, there are still partial travel restrictions in many parts of the country. In such a scenario, technology will play a major role in making remote audits possible. Remote audits are all set to become a regular trend in the post-COVID era due to their flexibility, effectiveness, cost and time advantages.

 

The e-compliance architecture needs to be designed to provide complete visibility and a bird’seye view of the compliance status across the country, state and unit levels. It is equally important for experts to provide round the clock support in updating country-wise Industry-specific laws and auto-configuring the software with an appropriate domain covering laws under Labour, Fiscal, Corporate, Commercial, EHS and industry-specific catering to large global organisations, medium and small firms.

(The author is Managing Director at Aparajitha Corporate Services Private Limited)

APARAJITHA’S ‘60 MINUTES COMPLIANCE’ WEBINAR EXPLAINS

Aparajitha’s ‘60 Minutes Compliance’ Webinar EXPLAINS BONUS AND GRATUITY UNDER THE CURRENT ECONOMY

Aparajitha Corporate Services Private Limited, the country’s no.1 company for Compliance, today organized a ’60 Minutes Compliance’ webinar to discuss about the Bonus and Gratuity payment in relation to the current scenario of the economic slowdown. 

The webinar was aimed at explaining the how the concept of bonus and gratuity payment has been impacted during this stint of Work from Home as a result of the ongoing pandemic under the Payment of Bonus Act, 1965 and the Payment of Gratuity Act, 1971 which act as the legislative law providing these provisions. It also highlighted how the current pay structure had been realigned with the help of salary cuts and incentive relaxations to boost the economy amidst this crisis period.

Speaking on the occasion, Mr. Nagaraj Krishnan, Managing Director, Aparajitha Corporate Service Private Limited said, “The concept of bonus and gratuity act became a statutory payment governed by the provisions of Payment of Bonus Act, 1965 and Payment of Gratuity Act, 1971 and are important to labor laws that recognize the rights and value of an employee. However, the disruption and its effects on industries and work due to this pandemic have seen many several states announce drastic relaxations to certain labor laws and have also come out with notifications and ordinances containing exemptions from compliance with a few labor laws.

While these relaxations give more flexibility to employers and business owners to sustain losses during this crisis period, it threatens the social security and rightful income of the employee. Although the situation is bad and recovering from it might take a long time. It is important for the workforce to know what is happening from a Compliance Point of View so that they are not taken advantage of. ” 

The webinar covered different aspects of Bonus and Gratuity payment…

•  What legislative laws provide these provision and how denying these can be a violation of labor laws  
•  The various Internal compliance process to be handled related to the conditions, services put upon employees to be eligible to avail these provisions
• How to calculate the payment in reference to the acts.
• How these acts have been impacted by the current changes in the economy 
• When and if these relaxations will be reversed post-pandemic.

The webinar, which saw participation by 1185 individuals comprising of HR professionals and mid & senior level personnel across various industry sectors, was moderated and addressed by Mr. K. Varadan, Chief Consultation Officer, Aparajitha Corporate Services Private Limited