'Compfie' set to change Sri Lanka's compliance landscape
30, 2020 /PRNewswire/ -- Aparajitha Corporate Services Private Limited, India's no.1 company for Compliance, today announced the introduction of its Global E-Governance and Compliance Platform - 'Compfie' in Sri Lanka in association with Colombo headquartered 3W Consulting.PTI | Colombo | Updated: 30-09-2020 14:33 IST | Created: 30-09-2020 14:16 IST
Aparajitha Corporate Services Private Limited, India's no.1 company for Compliance, today announced the introduction of its Global E-Governance and Compliance Platform - 'Compfie' in Sri Lanka in association with Colombo headquartered 3W Consulting. This move to position 'Compfie' in Sri Lanka's compliance market marks the first major development for the strategic country partnership between Aparajitha and 3W. Campfire is an online Compliance Management tool on a cloud platform designed to global standards with a combination of sector/industry-specific knowledge, with compliance metrics within the legal framework & policy standards of Sri Lanka. Technological insights uniquely position teams to work with organizations to achieve end-to-end digital transformation. From strategy to processes to tech enablement to regulatory changes, the company's multi-disciplinary teams take a holistic view of how country-specific laws, platforms, and compliance output behaviors across the front, middle and back offices need to evolve.
Commenting on the occasion, Mr. Nagaraj Krishnan, Managing Director, Aparajitha Corporate Service Private Limited, said, "The corporate governance culture is picking up across organizations globally as the governance landscape is rapidly changing. As regulatory and statutory compliance is considered as a high-risk category by most Organisations our product has been a welcomed platform by many. Campfire is our global E-Governance compliance platform which is designed to translate the applicable regulatory compliance knowledge and drive an organization's compliance performance. Campfire acts as a Risk mitigation tool that addresses the board room worry that arises out of regulatory compliance risks for the Board of Directors and Investors. Aparajitha Strategic country partnership with 3W for Sri Lanka is intended to set a tone for the compliance culture in the country. The potential Market share of 1800 Crore plus in Sri Lanka will allow us to participate in the economic growth of Sri Lanka while also contributing to the employment opportunities and ITES development in the country." A campfire provides the winning edge and will accelerate to change the future on how Corporates and Boards plan, structure, and streamline their in-house processes. Compfie's technology set methods are designed to mitigate risk and govern compliance procedures to expedite and achieve organizational goals within the purview of a country's / region's statutory rules and regulations. "There is a strong shift to governance for all multinational companies due to the unforeseen global challenges experienced. Most compliances are driven by the internal structures of the organization with very limited statutory and regulatory legal knowledge as a part of the BCP plan. As compliance is technically managed in-house across Sri Lanka, we vision to change the compliance landscape in the country through our Strategic partnership with Aparajitha. There is absolutely no automated GRC software available in Sri Lanka today and as this is a virgin market for Compfie. Through our offering we look forward to setting a tone of an organized compliance culture in Srilanka and easily capture the Market Share in the Compliance space throughout the country," says Mr. Stefan Moraes, Managing Director, 3W Consulting.
Advantages of Compfie • Real-time legal updates • A platform embedded with comprehensive legal knowledge • Assistance to map a legal framework for all legal entities and units • Opportunity to dynamically drive compliance performance • Auto trigger, tracking, and escalation of compliance parameters • Maker - Checker forensic controls • Multi-dimensional compliance dashboard for management review • An effective due diligence & audit platform • A Repository of all compliance records • Real-time performance scorecard • Comprehensive controls with privilege access • Exceptional data security with global certifications Aparajitha looks forward to entering Singapore, Malaysia, Philippines, Indonesia and Australia in the coming months. The company is simultaneously also exploring a foray into the UAE, UK, and the US markets. About 3W 3W Consulting is Sri Lanka's leading Enterprise Renewal, Transformational Consulting and Training business is responsible for transforming top tier blue-chip organizations. Our consulting experience spans across 50 industries including hospitality, banking & finance, FMCG, retail, apparel, insurance, manufacturing, investment, government, etc. and have worked with a clientele of over 1000. With a proven track record and wealth of experience in consulting, the company has conducted international projects in Maldives, India, Bangladesh, Bahrain, Cambodia, Vietnam, Hong Kong, Middle East, and Africa.
About Aparajitha Incorporated in the year 2000, Aparajitha Corporate Services Private Limited is today India's No.1 Company for Regulatory Compliance. With a presence in all the states and union territories across the country, Aparajitha is well recognized as a Pan-India expert in dealing with the complexities in Labour Law and Industrial Law compliances. Our 1500 plus clientele ranges from Start-ups to Industrial Giants to Multinational Companies to reputed Corporate houses across 100 Plus Industries. Aparajitha's cost-effective solutions are designed and monitored by 1300 plus compliance experts to address all the current and future compliance requirements of organizations. The operations and services are guided by professionalism and principles that stem out from Aparajitha's core values and business ethics of integrity, trust, continuous learning, and partnering progress. The company's goal is to build enduring long term relationships with its clients by partnering with them for mutual growth and benefit.