Analysis of V-Comply: product which merges compliance responsibility and risk/performance assessment

Compliance with government guidelines is the need of the hour for any organisation. Failure to comply with the regulations and standards can have disastrous results. Controlling these concepts manually can be a daunting task most of the time. That is exactly where V-Comply comes handy.

An Exclusive analysis of V-Comply - only product in India which merges compliance responsibility with risk and performance assessment

V-Comply, as the name indicates is a Compliance Management software. It is a cloud-based Compliance, governance, and risk management portal. Conceptualised by ExcellenceTech, it is a specialized software over the cloud that has changed the way compliance has been managed in a business.

What is V-Comply?

Well, to begin with, V-Comply is a cloud-based platform that simplifies the task of compliance. The software does suit all types and sizes of businesses.

In fact, it is the first of its kind software in the market. It is a SaaS ( Software As A Service) model that lets the CEOs, Managers, and Directors of an organisation to streamline their compliance processes. They can easily track the compliance through a centralised server on their dashboard. The users can use the software through their desktop or mobile.

What does it exactly do?

V-Comply suits any type of organisation. It works with almost all types of businesses - be it an SME, an NGO or a huge corporate.

Compliance is indeed a complicated process. V-Comply makes it simple. You will be able to assign the responsibility of all those numerous compliances across individuals and departments. The tool has a repository of over 6000 regulations and standards. It is completely customisable across business specific compliance requirements. And yes, there are country-specific regulations as well.

V-Comply is based three of the management principles - theory of responsibility, the theory of Exception and Management by objectives. The software alerts you with timely reminders about the impending compliance requirements well in advance. You will continue to get the reminders on and after the due date until the compliance is accomplished. That aids in avoiding the fines for non-compliance. Moreover, timely compliance lets you get rid of chances of loss of reputation and other legal actions.

Read more about V-Comply.

How does it work?

Well, the way it works is quite simple. The software employs a step by step procedure for the compliance management and governance. The easy to use interface guides you through the steps in a phased manner.
  • Choose your most important compliances. The software has over 6000 regulations, standards, and internal controls. You can even create your compliances.
  • Assign the responsibility for complying with the compliance (that is indeed a tongue twister) to individuals and departments.
  • Once assigned, the individual or the department owns the responsibility through the software
  • Once all the responsibilities with respect to all the compliances chosen are assigned, the software gets back to work.
  • V-Comply will now keep reminding the assignee of the need to comply, well before the due date, and on due date.
  • You will get to know whether the compliance has been done or not.

Watch this video to learn more about V-Comply

V-Comply takes care of almost all major compliance requirements. Some of the important compliances are -

  • Regulatory Complainces- Company Act, Taxation requirements, Pollution control, Provident Fund, ESIC
  • Certification Compliances - ISO 9001, 14000, 18000 etc, CMM
  • Internal Controls - SOP, Policy Compliance etc

That is just a representative list of the compliances that can be handled effectively by V-Comply. The best part is the ability to create your own compliance. That would be useful in developing internal control or measuring KPIs for the effective running of a company.

How much is it useful?

Well, non-compliance with guidelines and regulations can be too detrimental to the growth and reputation of an organisation. V-Comply reduces those risks in a professional manner quite efficiently.

V-Comply as a business productivity and performance measuring tool improves your performance ( and your firm's performance ) both financially and professionally.

From the professional point of view, you will get to learn the complicated procedures of compliance in a lucid and easy to understand manner. The completely intensive online training makes you a professional in terms of the knowledge base with respect to compliances.

Even financially, V-Comply would be a great tool for achieving greater heights. The service is cloud-based and thus it will not need any installation. Moreover, this is a subscription based software distribution service.

Advantages Of V-Comply

Well, the software is indeed a much helpful tool as envisaged in the previous sections above. Some of the advantages and salient features of the tool are worthy of mention here -

  • You have access to more than 6000 regulations, standards and guidelines.
  • It lets you know the due date for a particular compliance well in advance, thus reducing the unwanted complications later on.
  • V-Comply is the only product in India which merges compliance responsibility with risk and performance assessment.
  • It is a perfect tool for delegating the responsibility of complying with the standards, yet you would be able to have a centralised monitoring. That means you get the best of both worlds!
  • V-Comply is completely cloud based and has bank level security associated with its functioning. None of your data will be public.
  • It can work on multiple devices like PC, Laptop, Tablet and smartphone, thus offering flexibility, and portability of all your data.

Subscription Plans

As stated before, V-Comply is a subscription based model. It offers you modes of subscriptions you can opt for.

#1. Basic Plan

You will not need to pay any subscription charges for the basic plan. It does come with a lifetime validity. The plan entitles you to have only one user. You would be able to assign twp assignees along with two entries. For the small businesses, it could be a great plan.

#2. Economy Plan

The plan charges are Rs. 50 per day. You will be charged annually for the plan. It entitles you to one user and five assignees. You will have five entries.

#3. Professional Plan

This could be a good plan for smaller enterprises. The plan charges are Rs. 150 per day. You will be billed annually for the plan. It lets you have 3 users and 30 assignees. The plan entitles you to ten entries.

#4. Enterprise Plan

The Enterprise plan is best suited for the huge corporates. The plan charges are Rs. 500 per day and the billing would be done on the annual basis. You can have ten users and 150 assignees under this plan. There is no limit on the entries.

Read more about the pricing of V-Comply here -

What does the future hold?

The subscriber base of V-Comply has grown to 1500 since its launch in January 2016. That figure in itself speaks a lot about the uniqueness of the software. A niche product reaching such a great height should be indicative of the demand for compliance management solutions.

"Our aim is to make V-Comply the global tool of choice when it comes to management of compliance, governance & risk."
that's how the founder and CEO, Mr. Harshvardhan Kariwala presents the future of the initiative. Excellence Tech, the firm behind V-Comply has a thorough knowledge of time and costs involved in compliance management. This knowledge base in itself is the reason for the high growth rate. V-Comply definitely has a great future when it comes to being a most trusted solution for a growing concern for the industries.

Parting thoughts

V-Comply is definitely a great tool for managing and monitoring compliances in an organisation. The best part of the software is its customisable nature that suits almost all types of organisations. And then, there is a free version - free for lifetime. That would indeed be a good news for startups. The cloud-based nature of the tool makes it a flexible in terms of user engagement. You can use it on the go. Have any of our readers used the software? Do share your views on the productivity and usefulness V-Comply here. You can visit the official website of V-Comply for more information.

Article by Timmappa Kamat
Timmappa Kamat is a technology enthusiast. He has an active interest in newer technological developments. He is fond of new gizmos & gadgets. He loves to share his knowledge through tech-savvy websites as a freelancer. A Mechanical Engineer by profession, he is equally interested in blogging, with his own blog. He wants to carve a name for himself in blogging arena one day! If you need any clarifications about his articles,please respond here below or get in touch with him through his profile.

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