Compliance – Quick Facts
A company at an average ends up paying minimum 1 fine in the name of non-compliance every 2 years per establishment. Most of these fines could have been avoided simply by making sure that compliances as per the statutory checklist/calendar are done on time.
Major reasons behind companies’ inability to stay fully compliant include:
1) Lack of Awareness
2) Lack of Management Will/Focus
3) Incorrect Interpretation of the compliance requirement
4) Insufficient manpower
While the cost of compliance is not that high as compared to the consequences of non-compliance. Having a tool like CompliCheck will help companies become compliant easily. You can recover the cost of 5 years of CompliCheck Subscription by avoiding one fine due to non-compliance. The checklist along with the calendar and reminder facility makes it easy to stay on top of the compliances. CompliCheck has a good partner network that can even help take care of compliances in case of shortage of manpower.
Whether it is imparting awareness, providing system or compliance partner, CompliCheck can help. To know more visit our Website.