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LP-CMS(Lateral Praxis – Compliance Monitoring System)
increase compliance oversight and drive performance improvement
““The problems we have today, cannot be solved by
thinking the way we thought when we created them.”
— Albert Einstein.
CEO / StrategyMonitoringRisk ManagementCompliancePolicy FrameworkNetworkingStakeholder CommunicationDecision Making
Board StructureRole of the Board
Role of Individual DirectorsRole of Chairman
Role of Company SecretaryRole of the CEO
Board MeetingsBoard Meeting Agenda
Board PapersBoard Minutes
Board CalendarCommittees
Director ProtectionBoard EvaluationDirector RemunerationDirector DevelopmentDirector Selection & Induction
DefiningGovernance Roles
ImprovingBoard Processes
Key BoardFunctions
EffectiveGovernance
CorporateGovernance
The Compliance balance.You deal daily with competing demands of regulators, business units, and senior management. How do you keep your balance?
Compliance is most definitely not an outward facing service function. Its mission is internal: to guard the business. Compliance focuses on ensuring a firm is compliant with regulations, protecting a firm against reputational damage, and minimising fines and penalties.
Well designed and intelligent compliance software tools like LP-CMS, make this possible with little or no friction or disruption.
Good governance
“If a country does not have a reputation for strong corporate governance practices, capital will flow elsewhere. If investors are not confi-dent with the level of disclosure, capital will flow elsewhere. If a country opts for lax accounting and reporting standards, capital will flow elsewhere.”
—Arthur Levitt (Former Chairperson: US Securities
Exchange Commission)
Integrated & holisticLP-CMS follows on the MCA principle: “GRC is an integrated, holistic approach to organisation-wide governance, risk and compliance ensuring that an organisation acts ethically and in accordance with its risk appetite, internal policies and external regulations through the alignment of strategy, processes, technology and people.”
ConfigurableThe LP-CMS framework must be configured to each company’s specification. Industry specific, geogra-phy-specific or product-specific needs are addressed during installation. Truly effective monitoring programs enable the organisations to identify emerging compliance issues before they become problematic. Shared monitoring capabilities leverage central data banks to capture critical information from systems within each busi-ness, geographic or functional area and report anomalies back to responsible stakeholders accord-ing to pre-defined rules.
Business often means having to take risks. Especially smart ones.
Changes in competitive position vs competitors or substitutesCost di�erenceRelative product perfor-mance
Changes in ability / willingness to buyPrice sensitivityCredit availabilityShift in buying patterns
Impact of risk on:ProductivityProduct or service performanceCost structure
In�ation
Hazards
Financial markets
Disruptive technology
Policy regulation
Downturn
Environment
Commodity prices
Pandemics
Demographic
Forex
Geopolitical
Personnel change
Liquidity
Insurance risk
Risk Triggers
Changes in input costsSecurity of supplySuppliers’ cost struc-turesLogistics costsTari�s
Changes in distribution channelsFinancial StrengthValue vs Alternates
CompanyCustomers
Competition
Supply chain
Distribution
ERP enabled & SEBI compliantLP-CMS follows the “Ministry of Corporate Affairs” guidelines and works with data from within the company’s ERP system (like SAP). LP–CMS focuses on key best practices for successfully integrating management of governance, risk, and compliance processes, including automated submission of compliance related e-Forms.
LP-CMS: Salient Features
� Your compliance checklist with auto reminders � Extract data from a company’s ERP system (SAP) � Multi-level access to the CMS dependent upon
individual’s role and responsibilities with provision for escalation to the next authority
� Mark compliances as High, Medium and Low priority
� Dashboard for management on the status of compliances carried out with key word search and drill-down to track actions
� Generate the compliance certificate at various levels directly from the system
� Links to HR database: the latest employee status allows compliances to be re-assigned as needed
ComplianCe or performanCe-based drivers:
� Government’s central & state reporting laws
� SEBI guidelines
� External monitoring—corporate agreements
� Third-party vendor due diligence and monitoring
� Corporate compliance policies
� Internal financial, operational, performance goals
� SEBI Clause 49, SOX , HIPAA regulations
� Internal code of ethics
LP-CMS integrated designLP-CMS is a composite solution capable of tying in all three components (Financial GRC, IT GRC, & Legal GRC) via an organisation’s legal department and Chief Compliance Officer. LP-CMS has been designed to effectively measure an organisation’s compliance while delivering sustainable value to the organisation.
Indian region-specific regulations require public and listed companies to strictly monitor compliances both from point of view of Legal Provisions and as part of their Internal Standards and Control.Compliance includes submission of e-forms to the “Registrar of Companies” for private companies and to stock exchanges under Clause 49 for the listed companies.
Our sister products: LP-Risk & LP-Audit work well within the LP-CMS framework.
CenterPoint, MVIRDC, World Trade Centre, Centre 1, 1st Floor, Cuffe Parade,Mumbai - 400 005, Maharashtra, INDIATel: +91 22 6638 7272Fax: +91 22 2218 8175
email: [email protected]: www.lateralpraxis.com
i n c l u s i v e i n n o v a t i o n
Sample compliance dashboard
The LP promiseReliable, actionable information, provided in a consistent, rule-bound time line.
Compliance for performance
Compliance is definitely inward facing. But, in today’s economy, the Compliance department needs to operate like a well-run commercial enterprise by lifting some of the lessons about metrics and service levels from customer service models...
LP-CMS DashboardsOur CMS dashboards are executive information systems that enhance visibility of performance and allow tracking of your key GRC performance indicators. Collating data from disparate systems, our dashboards present a unified view of the information. We enable your directors, manag-ers & users to have a personalised insight of their GRC status and quickly spot problems before they adversely affect the business.
Your Gain � Economic in cost, time & resources. Low TCO,
Low implementation period, Low IT footprint � A consistent, dependable compliance monitoring
process for the company and all business stakeholders
� Prevent duplicitous monitoring of business processes and meet reporting requirements within time lines
� Drive the automation and efficiency of data loading, validation and auditing by focusing your resources
Continuous TransparencyJargon and hype aside—it is now necessary to step away from the traditional ledger and spread-sheet approach and focus on establishing a cohesive, learning system, delivering two impor-tant qualities in all your companies’ dealings: continuous transparency and global best practices.LP-CMS is a software framework that allows you to bring these goals with reach.
We are good at this —call us.