Finteglaw: Holistic View of GRC Objectives Aligned with Core Business Functions
Suresh Viswanathan
Founder Director and Chief Consultant
The management philosophy of a company culminates in its governance structure. Measures and means to address risk and compliance issues emanate out of this structure and the core competency of the management of family owned corporates on Governance Risk and Compliance(GRC)weigh enormously in the implementation of the GRC framework. The absence of a properly structured GRC architecture pose serious challenges for Institutional Creditors to fathom the credit worthiness of SMEs, as well as for Venture Capitalists to ensure transparency of end use of their investments.
The adoption of digital technology is eliminating human intervention thereby playing a key role in the efficiency and effectiveness of GRC processes. For any enterprise, business is its core activity and outsourcing non-core, but vital, activities like GRC permits the management to focus on developing its core business such as improving customer engagement, research and development, efficiency of delivery, and providing high value services. Furthermore, if non-core functions are outsourced, the business will have lesser people to manage, less office space and lesser administrative hazzles, thereby reducing overhead costs, and simplifying business operations. As this trend gains traction, Finteglaw headquartered in Mumbai is perfectly equipped to meet the expectations of businesses in this domain with its novel cloud based platform “GOVERNsme”. This platform comes with a perfect blend of industry-rich expertise and automated tools for establishing GRC infrastructure for any kind of mid-sized entity, especially that has received PE/VC funding or institutional debt finance. This innovative solution enables transparent disclosures, offers efficient compliance
and risk processes, enables online board meetings with complete board governance processes, and above all provides a comfort of being a well governed entity, to all its stakeholders. “If one outsources the GRC functions to Finteglaw, our internal processes and systems that are evolved out of say 200 man years of experience, are capable of insulating the client from various risks including regulatory risks” says Suresh Viswanathan, Founder and Director at Finteglaw who possesses nearly four decades of experience in the BFSI sector.
The recently launched GOVERNsme solution is designed to generate compliance and organizational risk alerts. The entire compliance is carried out by the Finteglaw team of experts from corporate legal and corporate finance, ably supported by the technology team. Board meetings are conducted professionally on cloud and the evidence is uploaded on a virtual back office that is available for review and audit purposes on demand. “The concept is slowly catching up. We are also foraying into real-time and remote audit, a new concept unheard of in India,” reveals an enthusiastic Suresh.
Multiple departments of large enterprises and geographically dispersed organizations mostly function in silos with their own set of compliance systems and processes, thereby creating a mammoth of disorganized data that can result in potential risks. Coming to the aid and eliminating this bottleneck, Finteglaw has eGavel ERP solution that has been engineered to ensure that the inter-departmental compliance processes are well harmonised. Multiple compliance and risk deliverables by the various departments are mapped in the software and monitored accurately by a centralised team.
Another main offering of Finteglaw set for launch in this month is Portal “sme DEALZ” which has been fashioned to operate and assist in buying and selling of businesses and companies. The portals operates with a tagline “From a Lead to a Deal” offering the entire gamut of services from arranging funding and legal due diligence to the buyer, assistance in valuations, mergers and amalgamations through NCLT process etc. Continually striving to stay relevant in this domain, the company, with its aggressive expansion plans, envisions having specific client service teams in place and ISO standardization for all internal processes.
The recently launched GOVERNsme solution is designed to generate compliance and organizational risk alerts. The entire compliance is carried out by the Finteglaw team of experts from corporate legal and corporate finance, ably supported by the technology team. Board meetings are conducted professionally on cloud and the evidence is uploaded on a virtual back office that is available for review and audit purposes on demand. “The concept is slowly catching up. We are also foraying into real-time and remote audit, a new concept unheard of in India,” reveals an enthusiastic Suresh.
Multiple departments of large enterprises and geographically dispersed organizations mostly function in silos with their own set of compliance systems and processes, thereby creating a mammoth of disorganized data that can result in potential risks. Coming to the aid and eliminating this bottleneck, Finteglaw has eGavel ERP solution that has been engineered to ensure that the inter-departmental compliance processes are well harmonised. Multiple compliance and risk deliverables by the various departments are mapped in the software and monitored accurately by a centralised team.
Another main offering of Finteglaw set for launch in this month is Portal “sme DEALZ” which has been fashioned to operate and assist in buying and selling of businesses and companies. The portals operates with a tagline “From a Lead to a Deal” offering the entire gamut of services from arranging funding and legal due diligence to the buyer, assistance in valuations, mergers and amalgamations through NCLT process etc. Continually striving to stay relevant in this domain, the company, with its aggressive expansion plans, envisions having specific client service teams in place and ISO standardization for all internal processes.
