Compliance Management Solution

Compliance Management Solution (CMS)—Financial institutions (Banking and Non-banking institution) must maintain a sound compliance management with a solution that ensure your policies and procedures adhere to provisions of federal laws and regulations. In partnership with Etrends India we have a compliance management solution which will help increase compliance level of your organization. At a glance learn the compliance status of your organization.

Laser Legal Compliance Solution (LLCS) provides a centralized, access-controlled environment for monitoring status of legal compliances you face. LLCS® is a flexible web-based solution that brings compliance team, compliance owners and management on the same platform. LLCS® establishes a transparent and uniform process for managing legal compliances of your organization.

KEY LLCS FEATURES

Dashboard:

Get enterprise level, location level, risk category level, department level and law level status of compliance at a glance. Easily monitor status of critical and high risks category compliances.

Compliance Universe:

Allows creating laws, acts, compliance and events that are applicable to your organization. Allows import of compliance to jump-start you with the application.

Time Based Compliance:

Create reoccurring time based compliance. Set the reoccurrence frequency and let LLCS® do the rest. It will automatically trigger compliances to the right compliance owner year-after-year.

Event Checklist:

Create reoccurring event checklist. LLCS® will automatically create checklist for the correct owner to confirm occurrence of the event.

Event Based Compliance:

LLCS® automatically triggers event based compliances when occurrence of one event is confirmed.

My Compliances:

On one single screen, compliance owner can view list of compliance that they are required to comply in a week, a month or a quarter. One can update the compliances as complied and upload proof of compliance.

Knowledgebase:

Organizes compliance information at one central place giving access to information when it’s needed the most. Browse it law-wise, Act-wise or simply do a keyword search.

Compliance Certificate:

Compliance certificates can be created within the application at all levels to certify the compliances/non-compliances before the CEO certifies the compliances. Creates transparency and confidence in issuing compliance certificate.

Workflow:

Built-in workflows to monitor and control decentralized compliance management. LLCS® has best practice workflow to manage changes in compliance, compliance due date changes and extensions in compliance due date. Audit trails are managed at each step for one to investigate in the event if something goes wrong.

Automatic Reminders and Escalations:

Automatic compliance reminder keeps compliance owners updated on upcoming compliances. Timely reminders and automatic follow-ups increases the overall compliance level of the organization. Automatically escalates compliances that remain non-complied before “X” no. of days from compliance due date.

Reports:

Compliance report gives complete compliance related information such as compliance due date, compliance owner, compliance status etc. Event checklist report indicates if a specific event occurred or not and if occurred then status of compliances related to the event. Compliance certificate report gives status of issuing compliance certificate by different individuals at all levels.

Complete control over Masters:

Administrator of LLCS® has complete control to configure the masters completely as per individual organizations requirement. Create and manage masters such as Users, SBU, Location, Department, Law, Act, Compliance etc.

Compliance Management Solution

SMEs There are twelve months in the year, keeping your business in good shape is very important. A good place to start is to reflect on the past year, and get a clear understanding of what success looks like in 2018. Below are few tips to help business owners in 2018:                                       It is always good to look back especially on the finance of the company, in other to know where to make adjustment in the New Year. Though it might not be the end of your financial year, it is always good to do review. Such reviews should be carried out on sales receipts, invoice, and bank account details to ensure the figures add up. A good quality accounting software like “Sage Software” makes this easy to do and will do most of the work for you.     A brief chat with the accountant goes a long way in understanding the true state of the business books of account. Your accountant should give you a rough idea of what your tax will be, which will help in avoiding unpleasant surprises.     Take some time to ask questions as to whether you are achieving the set goals, compare your set revenue to the previous year to check for any achievement. If there are lapses, it might be time to get professional advice from seasoned specialist. (Check our website we render such services; www.pml.com.ng)     Always ensure you check updates on tax laws and regulations because it changes on a regular basis, the tax calendar can be placed on your table. It’s always good to know when to file and pay taxes.   Feedback from customers is a great way to improve any product or service. In the New Year, what could be done better, strategies on getting and sustaining clients should efficiently be the target.     If only small business owners resolve to manage their account well and plan business finances carefully, there won’t be stress at the end of each year.   To achieve this, get help from an accountant or financial advisor like PML Advisory.  You can visit our website for more details about our product and services. Click here to visit…. www.pml.com.ng