The sectors which are the most involved with regulatory frameworks are banking, financial services and insurance sectors who have to constantly keep track of the changing and transforming regulations. All of this becomes overly complex to comply on time and poses huge risks for organizations.
VComply provides you with a comprehensive global view of regulations and standards across different domains. It also provides a focused view of regulations pertaining to your needs. Access over 9000+ regulations, standards & internal control across domains. With advanced filters under the intelligent database, regulations are accessible at a granular level, you can save all your searches of regulations into your private library for easy access to integrate them into your regular workflow system. Easy access from anywhere, as and when you need it on a single platform. VComply’s strategic alliances globally powers you to keep track of and analyse regulatory changes across the globe and provide you with the necessary guidance.
Auditing in the Healthcare industry faces complex policies and stringent penalty clauses, thereby, posing tremendous risks to the healthcare providers. To overcome fraudulent claims and improper payments Medicare is taking assertive steps to build a robust framework for audit trails. Medicare RAC Audit, Medicare Probe audits and CERT audits represent significant audit programs in place to put controls on medicare activities.
Medicare audits predominantly focus on tracking and analysing billing payments and documentation of procedures. VComply provides a seamless platform to keep your documents up to date and to meet medicare compliance audits frequently and on a more timely basis. With every billing payment, upload the necessary electronic receipts and assign auditors to oversee the whole process of compliance. Moreover, it provides you with escalation features and automated reports and trends. The Due Diligence Room provides an open scope to the involved parties to have professional discussions and for auditors to be involved in these discussions. It provides you with timely updates and notifications on the go with numerous integrations.
NESA, National Electronic Security Authority, is a federal authority set up to address advancement of cybersecurity across the whole UAE. In order to protect national data information, NESA has UAE Information Assurance Standards (UAE IAS) which are a set of standards and guidelines to be followed by all government authorities, semi-government organizations and business organizations that are critical to UAE.
There are a total of 188 security controls and standards set by NESA across industries. These standards include three distinct areas: ISO 27001, PCI DSS and Cyber Essentials. These security controls are further sectioned under 4 levels based on their priority from 1 to 4, P1 being the highest priority. VComply GRC platform is a tier based GRC solution which provides risk based assessment for your organization at different levels of hierarchy. The solution further streamlines information about risks through its responsive dashboard, automated reports and trend graphs.
Currently, the major sources of storage and communication are spreadsheets and email based systems. Data and information is stored at different locations by different users which causes a lot of mismanagement and loss of information that is crucial for any business posing tremendous risks. Risk Management Information Systems or Softwares (RMIS), simply put, are integrated computer information systems that track information in order to minimize risks.
VComply, is an integrated RMIS software. The system broadly enables you to consolidate and centralize property values, claims, policy, and exposure information in order to contain the risks caused by non consolidation of this information. The system provides management capabilities and reporting capabilities for the crucial information that forms the backbone of your business. The software is flexible enough to include updates of data and is accessible by many users from different locations. VComply also acts as document management software to centralize documents and policies essential to your business.
Corporate Integrity Agreements (CIAs) are agreements enforced by HSS to promote healthcare quality and increase compliance to regulations within the Healthcare industry. Office of the Inspector General (OIG) in the HSS department is responsible for monitoring CIAs on annual reporting basis. With increasing number of non compliance to regulations and standards and continuously changing policies in the healthcare industry, tracking and reporting has become essential for healthcare providers. This calls out for inclusion of civil monetary penalties (CMP), assessments and exclusions in the daily operations of the company.
VComply helps you with all the 7 essential steps of CIA that the OIG has set guidelines for. Through C.L.A.P.™ upload and track necessary policies and standards pertaining to your industry. Establish effective communication through our integrated notification system and set internal controls within your organization. Establish monitoring, reporting and auditing systems to effectively help you detect areas of non-compliance.
Managing reputational risk is about managing public perception and opinions about your company in order to minimize threats to the good name or standing of your business or entity. These risks are posed by a number of reasons like the company’s actions, actions of employees and actions of a third party.
VComply offers you an integrated GRC solution that provides a strategic oversight for your organization over strategy, policy, execution and reporting. It integrates risk management with core processes of your company which makes the company efficient and the work easy to track.
Conflict of Interest (COI) is a situation in which concerns or aims if two different parties are not compatible and coherent with each other. Conflict of Interest Management, more popularly known as, Disclosure Management, is involved in reviewing reports outside the activities stated by the organization. Disclosures on the conditions on outside commitments are reviewed for compliance with institutional policies and standards.
VComply is a comprehensive solution for managing and tracking Conflict of Interests. Through the Assessment Survey module, the GRC software helps you generate customized questionnaires which can be automated for periodical compliance enabled via smart notifications. It works as a documentation center and automates the manual process of reporting, monitoring and auditing the COI requirements.
COBIT is an IT management framework to help the companies define their strategies around information management and governance developed by ISACA. The framework was developed to act as a supportive tool for managers to bridge the existing gap between technical issues, business risks, and control requirements. COBIT defines controls and guidelines which can be implemented across sectors and different industries. It aims at integrating business goals with IT processes and includes various international standards like ITIL, CMMI, COSO, PRINCE2, TOGAF, PMBOK, TOGAF, and ISO 27000. It addresses growth of IT in business and looks at including best practices and standards for improvement in the Information Technology.
VComply helps you define these controls effectively and in a way that is hassle free in your own library. Entrust and test controls by assigning these controls to relevant employees in the organization. Breakdown silos through effectively communicating between different departments and upload necessary documents on the go for them to be accessible from anywhere.
Market Conduct Examinations are performed by Insurance departments to assess the processes and operations of the insurers to evaluate their authority to conduct business. Market Analysis and Market conduct examinations enable the Insurance departments to estimate the strength of the Insurance marketplace and the compliance records of the entities. Market conduct examinations have acquired great importance to establish detailed monitoring and reporting.
VComply helps you establish processes and systems to analyse and prioritise your market conduct problems and see which is causing the most risk to your organization. It helps you structure controls to analyse these problems and then assess and assign remedies. It streamlines the whole communication process for effective and efficient allocation of resources.
Information Security Governance is a framework (adapted through ISO 38500 standards) to control and direct IT Security within organizations. It is a system that defines accountability measures providing oversight over tasks and responsibilities in the company. IT security governance is an organization wide process of establishing effective accountability and leadership to ensure compliance with policies, rules and regulations systematically. It drives a culture of ownership and concurrency. IT security governance acts like an instrumental factor in ensuring Risk Mitigation in the company and in establishing security controls across departments and domains.
VComply, provides you with an integrated platform to establish and maintain a framework to address Information Security Governance. The system equips you with a centralized repository to consolidate policies and regulations pertaining to your industry. Working on the E.V.A.S.™ framework the system will help your organization establish accountability and transparency.
Production scheduling deals with the efficient management and allocation of resources, processes and events in order to create goods and services. It involves keeping track of raw materials, machines, labour, efficient communication with the sales and marketing department and compliance with policies and standards with the aim of maximizing sales cost-efficiently.
Keep track of all your production related activities on a timescale right from the product development phase to the point of sales. Access our Due Diligence Room to communicate with the involved parties professionally, receive automated notifications on schedules and deadlines, integrate Calendar, generate automated reports and adhere to all the policies and procedures from a customized centralized library. VComply is an integrated solution for all your supply chain related operations with complete end-to-end product scheduling to ensure that your company does not fall short of any resources at any time.
Monitoring Employee Performance is directly related to Compliance in an organization. If any employee fails at high risk responsibility or an employee fails at low risk responsibilities repeatedly, it falls under non-compliance of tasks and poses tremendous risk to the organization. Therefore, it is becoming increasingly important for organizations globally to take a Risk-based approach for monitoring employees performance.
Through VComply, manage your workforce effectively by formulating policies, ensuring compliances and tracking employee performance. We offer you an integrated cloud based solution which will save you lots of time and help you plan, monitor and review an employee’s work objectives, his timely completion of responsibilities and overall contribution to the organization. With detailed automated Compliance reports, diligence scores and R.A.G. analysis, it becomes easy to analyse the productivity of employees and drive programs for overall human resource improvement.
Information Technology (IT) has now become an integral part of any organization. With IT environment becoming more advanced and complex, organizations are now exposed to risks, threats and vulnerabilities which have direct impact on the organization’s performance. With changing regulations tightening the Information Security for the consumers and mandatory compliance with these regulations, requires effective designing, controlling and administration of IT systems.
VComply provides a revolutionary and comprehensive IT GRC solution to streamline IT GRC processes and manage IT Regulatory Compliance to help enterprises manage IT risks. This advanced platform helps enterprises implement a strong framework to detect, measure, mitigate and track IT risks. VComply helps enterprises to manage host of activities like IT Governance, IT Risk Assessment, IT Regulatory compliance and tracking, IT Policy Management and IT Audit Management. With its Easy Entrust, it assigns the responsibility centre with tasks related to IT compliance and help organization reduce compliance costs, improve data security to drive accountability in the organization.
Today, business performances are intertwined with the success of their suppliers, making businesses heavily dependent on their suppliers. Inefficiency in managing supplier performance can lead to major supply chain problems, not limiting to logistic issues and poor quality. The challenge lies in management of complex global suppliers located at various locations across the globe. Tracking the supplier performance becomes difficult as it requires collection of data from all suppliers across the globe, tracking and evaluating the supplier performance metrics, detecting any possibility of risks and implementing control measures.
VComply is an advanced and comprehensive GRC solution for enterprises to track and automate supplier performance management processes across the organization. The flexible platform ensures tracking of multiple types of suppliers from diverse industries on a single platform. VComply helps organizations to design and communicate relevant KPIs of the supplier performance, manage supplier’s data and translate them to actionable insights for future action. With VComply C.L.A.P.™, manage your supplier contracts and define relevant contract specific metrics for effective supplier performance evaluation.
Supply Chains are expanding at a rapid pace with trends of decentralization leading to reduced acquisition costs and increasing market share. However, owing to dynamic business environments, supply chains are becoming vulnerable to unstable economic cycles, changing consumer demands and natural processes. Unstable supply chain leads to increased risk exposure in business operations, thereby, hampering the business growth. Companies need to adopt best processes for effective Supply Chain Governance to minimize probability of risk in business operations.
VComply provides an advanced and integrated Supply Chain Risk Management solution to varied types of enterprises so as to manage supply chain processes, assess supplier risks (not limiting to delivery problems), poor quality of products, and labour laws. It helps to perform Risk Assessment and Analysis for the key supply chain processes and stakeholders. VComply also enables top management to access key supplier information for decision making processes.
With suppliers becoming an integral part of the enterprise operations, any risks impacting the supplier would have an impact on the internal business processes. Inefficient supplier processes, poor service levels and contract compliance, workplace safety and employee issues have direct impact on the supplier operations, thereby hampering business growth. Constant monitoring and auditing supplier processes would help reduce the possibility of any risks associated with suppliers. Carrying out supplier audits ensure that the suppliers comply with processes as agreed upon in the contract agreement and enable smooth integration of business operations with the supplier processes.
VComply provides an advanced Supplier Audit Management solution which enables enterprises to perform activities, processes and data analysis related to supplier audits. With this solution, auditors can audit supplier compliance, escalate critical issues, discuss on the platform with relevant stakeholders and design actionable plans for implementation. Auditors can even track suppliers’ compliance on a daily basis in order to assess their performance.
With heightened competition along with more stringent global regulatory and compliance environment, organizations are facing never seen before pressure on managing their supply chain compliance. Supplier Compliance Management plays a vital role in the internal controls of the organization enabling organizations to achieve overall quality standards such as ISO 14001, FDA, FSSAI. Organizations need a comprehensive Supplier Compliance strategy to manage supplier contracts and service level agreement (SLA) compliance. Supplier Compliance Management would help in conducting efficient audit assessment of suppliers and objectively evaluate the suppliers’ performance.
VComply provides a comprehensive Supplier Compliance Management system. Powered by advanced technology, the platform enables the organization to conduct third-party risk-impact assessments, regulatory compliance and effectively track the SLA metrics. It supports a highly secured, on-cloud central document repository to store and manage all compliance related documents. VComply provides an end-to-end integrated functionality to ensure supplier compliance and mitigate any third party risks.
Managing vendors is becoming increasingly complex and difficult with activities like customer service, raw material procurement and IT infrastructure being outsourced by many global organizations. Vendors play an important role in business operations, however, they also bring numerous risks, compliance issues and governance challenges. In case of poor quality service, organizations are held responsible for the inefficiencies of their vendors. Hence, regulatory bodies expect organizations to effectively monitor their vendors and contractors, their policies and code of conduct, compliance obligations and perform regular risk assessments and proactively take steps to mitigate these risks.
VComply provides an integrated solution for Vendor Governance enabling organizations to perform effective Governance, Risk and Compliance activities relevant to their vendors. The centralized solution integrates your vendor network and aggregates vendor information to drive transparency and accountability. The solution streamlines the whole vendor life cycle, from their on-boarding to managing relative crisis.
With organizations focusing on gaining competitive advantage, integrating supply chain partners like vendors, distributors, and suppliers with internal operations holds key to delivering timely value to customers. Traditionally, supply chain partners were managed in silos leading to high cases of risks, non-compliance, poor quality and delayed delivery of products to customers. Regulatory and corporate compliance requirements such as FCPA, AML, Customs and Trade compliance, E.H.S and OSHO make supply chain risk assessments audits and performance evaluation obligatory.
Focusing on easing the process of supply chain management, VComply provides a comprehensive solution to help organizations automate and integrate various supply chain processes such as performance tracking, contractual compliance, supply chain audits and third party due diligence. VComply facilitates end-to-end third party tracking enabling traceability of products and raw materials. The in-built workflow allows for assigning tasks and tracking the SLA compliance levels.
With increasingly high amount of information documented on a daily basis, the challenge lies in managing these documents. It has become complex to track policy documents, their contents and necessary actions to be taken for renewal among the piles of folders. Also, ensuring compliance to data security regulations, effectively tracking the accessibility of confidential documents is becoming impossible. Inefficient document management increases data breach risks which might lead to heavy losses in terms of finance and classified information.
VComply’s Document Management system simplifies the creation, tracking and communication of policies and relative contents.The platform provides a centralized on-cloud repository to store and track all your documents. It also lets you assign and map the documents to responsible individuals, helping manage regulations, risks and controls and improve compliance. Advanced analytics and reports enable real-time tracking of the policy documents throughout its lifecycle.
Hazard Analysis Critical Control Points (HACCP), GFSI, FSSC, SQF and BRC are some of the methodologies and regulations for improving food quality and auditing. Quality has been a predominant factor in the success of food trade transactions. Food safety issues have compelled quality control to the forefront of Global as well as Domestic trade concerns. With the robust and dynamic scenario of trade and quality, a variety of products compete for customers’ attention and thus, regulatory bodies seek to control potential threats. However, monitoring and complying with such regulations is a tedious task.
VComply offers a comprehensive GRC platform for regulatory bodies and organizations which serves as a complete solution for the food safety compliance by helping to improve brand equity by implementing a structured compliance procedure which enhances transparency in the organization and promotes accountable behaviour. The platform acts as a governance umbrella where auditing regulatory standards becomes hassle-free.
The FDA compliance ensures the safety of food, drugs, cosmetics, biological products, medical devices, and products that emit radiation. It holds the power to establish federal rules and regulations about these products. It sets the standards and enforces administrative and judicial actions such as issuing warning letters & notices, dissolving product lines, license revocations, penalties, and even criminal charges. The regulations adhering to this industry are entitled in the Congressional Federal Register (CFR) under Title 21, which comprises nine volumes and includes section 1 to 1499. The significant sections of CFR and the guidelines for producing quality, effective and safe pharmaceutical and medical devices products have also been listed down under the Current Good Manufacturing Practices (CGMPs).
VComply effectively combines all the FDA compliance solutions to ensure operational efficiency and safeguarding the quality of products pertaining to the standards for effective and sustainable FDA GXP compliance. It enables integration of organizational processes with regulatory notifications and alerts and facilitates transparency by identifying, tracking and solving issues.
Collaborating legal risk and compliance activities with different departments across the organization is a huge challenge. Corporate legal units face difficulties in overseeing regulatory risks such as HIPAA, FDA, FCPA and many more. Managing these by orthodox procedures leads to redundancy and inefficiency in work resulting in penalties and lawsuits. It limits the cross-enterprise visibility which is important for critical decision-making processes.
VComply helps in streamlining all the compliances related to legal and judicial liabilities under one single cloud-based GRC platform which can be accessed from any location and at any time. VComply minimizes major redundancies and inefficiencies in the process. It helps an organization to proactively comply with the requirements of law, thus, ensuring policy alignment and coordination in an organization and safeguarding the operational, strategic and functional flow for systematized decision making.
Majority of the organizations operate in a market where quality is given priority by the customers while purchasing any item or profiting any administration. Organizations don't have a confined viewpoint towards norms and best practices any longer. They endeavour to meet the worldwide quality gauges. Buyers' mindfulness has expanded, and their comprehension of value is regularly advancing. Industrial quality management parameters such as Six Sigma and cGMPs followed by standards like ISO 9000 address systemic quality problems, which must be supported by real-time visibility into quality processes, and efficient document management.
Putting resources into a platform like VComply tends to the above issues by conveying a synchronized answer for all the Quality Management Compliance. Its inventive innovation helps the administration to allocate compliances to its group to streamline quality procedures.
Traditional in-house created frameworks, solitary applications, and manual paper-based procedures have been utilized to oversee quality and consistency at the departmental and even organizational level. Such frameworks and procedures do not have an expansive undertaking reach, can't scale viably, raise the cost of consistency, and increment the danger of non-compliance with FDA GXP controls. VComply helps organizations by providing a solution to deal with overseeing quality along with FDA GXP consistency. The arrangement gives a quintessential system and an incorporated way to deal with meeting FDA GXP directions through risk administration, document management, consistent reports, continuous reviewing, and recording for subsequent restorative activities. It enhances operational efficiencies in quality frameworks, accordingly bringing down the cost of administration. Furthermore, it encourages a straightforward situation for proactively recognizing, following, and settling quality issues.
VComply delivers solutions for sustainable FDA GXP compliance. The platform enables integration of business processes with regulatory and internal compliance. It is enabled with a C.L.A.P.™ repository, which can be accessed from any location by multiple users and a single cloud-based integrated platform.
While moneylenders keep on facing swelling credit misfortunes because of defaulters, the groups facilitating such exchanges must ensure with reasonable loaning practices and follow proper closure standards. This is a key necessity for all loaning institutions under the supervision of OCC (Office of the Comptroller of Currency) and prompted expanded investigation of value reviews for default servicing activities taken care of by Service Quality Assurance (QA) and Quality Control (QC) groups. Loan specialists should likewise set proper oversight to screen the nature of sellers and link quality to merchant pay or compensation models.
With enterprises failing to maintain a common record for audit failures and QA programs, differing by the type of default service, QA teams face ordeal to complete program audits. QA audit records are largely maintained manually. VComply Quality Management solution provides a strong governance framework to conduct quality assurance and quality control audits. The solution enables quality control for multiple QA/QC programs associated with separate BUs. VComply can be aligned with multiple functions and metrics to improve the company’s performance, compliance and growth requirements.
Environment, Health, and Safety Management Solution
Majority of the organizations encounter a common question - “Are we capable enough to prevent hazards and ensure a clean and a risk-free workplace?”. Organizations have a moral, legal and environmental responsibility to ensure the safety of its employees and also work towards protecting the environment from hazardous effects. With increasing regulations and controls on EH&S procedures followed by the organizations, it has become necessary for the organizations to be alert and proactive. Any negligence on their part may result in high penalties or even shutting down of business. Therefore, a dynamic approach is inevitable in the workplace.
VComply provides a comprehensive solution which enables a business to reduce the risk of EHS non-compliance. It helps in incidence reporting and management of health standards, EPA Audit Policy and other compliances. It also helps in anchoring the gap in the current EH&S procedures and ensuring a comprehensive solution.
Compliance and government are affecting a number of business functionalities. Many specialized processes are being designed solely to meet industry specific regulations. As various compliance initiatives are becoming more interlinked with regulatory and organizational perspectives, the use of multiple compliance frameworks may cause duplication, and often contradictory processes and inefficient document management. Such frameworks do not provide clear visibility into organizations' risk and compliance profiles. It reduces efficiency, and escalates the cost of compliance and governance.
VComply is a robust governance and compliance solution to all the above problems. The platform facilitates real time analysis, tracking and interaction between regulatory officials and the organization. It also allows authorised entities to view and access the compliance framework on a graphical representation and delivers with hands-on reporting facilities. It also provides an exhaustive repository to upload and download necessary documents which can be accessed at anytime prior to the project or compliance from anywhere to ensure a hassle free regulatory and compliance processes.
Social Compliance management is a continuous process which has to be followed by Organizations which strive to protect the health, safety and rights of their employees, and the community and the environment which they operate in. They also protect the communities of workers in their supply chains. As the suppliers in your supply chain increase, the transparency that you have maintained so far may be at a risk of violation. In order to be compliant, organizations should try and automate social compliance wherever possible. Automating this process helps in better management by compliance managers.
VComply offers a very unique Social Compliance Management solution. It helps you do away with spreadsheets all together, enabling better management of Social Compliance by automating your processes and providing a single integrated platform. The solution helps you integrate all social compliance processes like social compliance policies, code of conduct management, communication between the organization and suppliers, compliance monitoring, auditing and reporting.
Banking compliance has become one of the most significant concerns for financial institution executives. New laws and regulations continue to emerge, such as conduct-risk, next-generation Bank Secrecy Act and Anti-Money Laundering (BSA/AML) risk and third & fourth-party (subcontractors) risk. All banks differ in the way they operate, but the one thing they have in common is compliance. If banks face legal action for non-compliance, the consequences could be catastrophic ranging from fines, temporary suspension to permanent closure.
Non-compliance will have a significant impact on the brand reputation of any bank. When it comes to financial institutions, customers are more sensitive to the reputation of the bank and any incident of non-compliance would lead to a significant decrease in customers.
We at VComply understand this and have designed a solution which provides you with an integrated framework that helps you manage all your compliances like KYC, Basel Norms, GLBA etc. The solution simplifies and streamlines the process providing consistent compliance management for banks and financial institutions.
Basel III of the series of Basel Accords is the 3rd and the most recent in the series. It came as a response to the 2008 mega world-wide financial crisis. Its main objective is to improve the banking sector’s ability to absorb shocks arising from financial or economic stress. It also aims at improving risk management, governance and strengthening banks’ transparency in operations. It is a global regulatory standard for bank capital adequacy, stress testing, and market liquidity risk. These revised Basel rules enhance banks’ counterparty credit Risk Management and also increase the quality and quantity of the capital base.
With VComply’s enterprise-level solution, we provide banking institutions with a sophisticated risk analytics platform which helps them in taking risk-informed decisions. We help in adopting better governance and equip them with information about risks to enable better compliance with Basel III requirements. VComply simplifies and streamlines the process by providing a consistent compliance framework for banks. By adopting VComply’s standardized and integrated workflow approach to risk and compliance management, compliance with Basel regulatory requirements becomes a cake walk.
Whenever an organization employs a third-party for any of the business support functions like a distributor, lawyer, supplier, agent, accountant, or consultant, it comes with its own set of risks and problems. There are many regulatory requirements tied to it too. Nowadays, with vast global third-party networks, every organization must have an effective strategy for evaluating and monitoring third-party risks. Organizations have to ensure that the third parties protect their confidential information, avoid unethical practices, mitigate operational risks and maintain a safe and healthy working environment. For such due diligence, a robust Third-Party Risk Management process, policy and control has to be incorporated into the organization’s system.
VComply’s comprehensive GRC platform provides you with a Third Party Due Diligence solution which is not only effective but also helps in increasing profitability and credibility of your organization. Our solution streamlines the whole third party management process with flexible and accurate reports which help you in making better decisions.
Information and data is what drives the world today. Huge volumes of information gets interchanged in the course of any business. Therefore, security and safety has become a big concern for every organization now. The ISO 27002:2013 standard lays guidelines for organizational information security standards and information security management practices. Organizations which maintain the compliance of information security standards gain clients’ confidence and trust. They also achieve preferred supplier status along with continuous information security.
VComply offers an integrated comprehensive framework which assists you in managing your organization’s information security. The solution helps you in managing IT Risks, IT Compliances, Audit management, Security threats and Vulnerability management. The solution provides you with a platform which enables a consistent workflow with ISO standards and risk treatment aligned with your business goals. VComply’s ISO solution offers applications to help you implement ISO standards in your organization.
Every organization has to manage its financial data and processes. There are usually a set of internal controls that an organization has to put in place to manage risks and also to ensure that the financial resources will be used in an ethical, economical, effective and efficient manner towards the achievement of objectives. This means that they will be used keeping the applicable laws and other regulations in mind and also safeguarding the assets and resources against loss, abuse and damage. SOX Section 404 mandates that all publicly-traded companies must establish internal controls and procedures for financial reporting and must document, test and maintain those controls and procedures to ensure their effectiveness. The purpose of SOX is to reduce the possibilities of corporate fraud by increasing the stringency of procedures and requirements for financial reporting.
With VComply’s effective Financial Control Management Solution, we enable your organization to manage financial controls efficiently while significantly reducing the cost of complying with regulations like SOX 404. VComply simplifies and streamlines the process providing consistency in the compliance process for your organization.
The Foreign Corrupt Practices Act of 1977 (FCPA) is a US federal law whose objectives are addressing accounting transparency requirements and issues concerning bribery of foreign officials. It is the first of its kind aimed at combating bribery and the first to introduce corporate liability, responsibility for third parties and extra-territoriality for corruption offenses. The Resource Guide to the FCPA recommends that a programme should include a Code of Conduct, Risk Assessment, Training, Incentives and Disciplinary Measures, Third-Party Due Diligence & Payments, Reporting etc. There always exists a risk of Organizations engaging in what FCPA has labeled as corrupt practices.
VComply provides a solution for your organization through continuous monitoring of processes by automating and streamlining the important aspects of FCPA compliance into organizational processes. VComply centralizes your data onto the platform and helps in effectively managing your policies and internal controls. The platform enhances accountability and transparency within your organization hence, preventing incidences of corruption.
To better maintain, plan and manage your equipment related activities, maintain devices’ service history, track all contracts, manuals and warranties with real-time alerts. Through the Compliance Calendar, track your equipment service and maintenance history from anywhere, anytime. VComply’s C.L.A.P. ™ module can help you securely store and effectively manage policies, contracts etc. You can also assign each policy to individuals to segregate the process.
VComply is an innovative GRC solution for all the Quality Management Compliances with assistance to the management to assign responsibilities to its team. Its detailed Compliance library enables implementation of Total Quality Management (TQM) techniques such as Six Sigma and quality standards like ISO, IMO and country-wise regulations like FSSAI (India), FDA guidelines (USA) etc.