Can SMEs afford it?
Compliance is all about a formal legal framework that can assist and develop an organization-wide understanding of the legal boundaries in which the organization operates. So, compliance and audits are essential management tools for any organisation. Compliance and regulations focus on the safety, transparency, and soundness of the business, ensuring that organizations are not unduly exposed to concentration risk. Compliance also makes sure that companies are viable in the long run in terms of liquidity and profitability. In India regulations, therefore, need to be seen as facilitators of prudent business – rather than as restrictions to business growth.
But does a Small and Medium Enterprise (SME) need compliance and audits? Yes, they do, because today, compliance is mandated by lending banks, the legal environ and possible investors. But many SME’s are plagued by:
- Do I need a full time compliance person ?
- How do I keep track of what’s new in compliance regulations?
- Can I afford it?
- Or can I outsource the activity to a quality vendor ?
- Is there such vendor?
- Can someone advice on whether I am compliant or not?
These are some of the questions and challenges that the sector constantly grapples with. With Talent Pro’s professional team of HR & IT professionals by your side, leave your worries to us, as the team handling outsourced compliance services strives to keep your compliance and regulatory needs in order, saving you many sleepless nights.
Our expert team will handle the entire spectrum of compliance and regulatory services, ensuring that:
- Governance and regulatory information is submitted on time
- It is duly supported by a pre-defined calendar of returns
- Periodic regulatory interactions happen
- Train the key members, so that the organization co-operates with the regulators during inspections
Please call us today, for a clear understanding and audit of your governance, risk, regulatory and compliance needs.