WELCOME TO COMPLIANCE INBOX

Compliance is an on-going, and time-consuming process. Multiple taxes to be paid. Several laws to be complied with. Multiple filings to be made to various statutory agencies. Disparate dates of filings to be tracked. Various books to be maintained, and disparate calculation methodologies to be supported, based on the rules and regulations laid down by each Law/Act governing these filings.Challenges faced by compliance leaders are many. The ever changing regulatory landscape, increasing expectations from regulators in creating a culture of trust, integrity, transparency, pressure from stakeholders to reduce compliance costs and at the same time improve on operational efficiencies.Traditional approach to compliance management in dealing with these challenges requires teams to spend most of their time examining volumes of compliance documents, spreadsheets, various email communications in order to have a meaningful insight.  Consolidating compliance information across business units and geographies is nightmare. Traditional manual approach has been rendered ineffective and efficient.With compliance initiatives becoming more intertwined, organizations need to adopt an an integrated and streamlined approach to compliance management – This will help them to minimize costs and redundancies, impart more visibility into their overall risk and compliance profile. Compliance leaders worldwide are increasingly deploying specialized compliance solutions.Compliance iNBOX(CiB) by BA Fintech is an intuitive solution developed to address this very pressing need to simplify compliance management across the organization. It is a platform which provides an integrated approach to comply with industry focused regulations with the promise of timely and accurate compliance without the typical cost and hassles.

KEY FEATURES

Dashboard

Comprehensive view on single screen regarding status of various compliance and audit activities across the organisation. Dynamic reports in the form of charts, graphs, data grids

Workroom

Resource Engagement Management and overall control. Assign, Monitor, Review. Role based access to owners, managers, resources thru encrypted User id’s and Passwords.

Dataroom

Integrated Document management, Policy management, repository of compliance obligations. Safe and secure data sharing. Store, Retrieve, share documents.

E-Audit

Audit plan tracker with Audit Trail. Independent access to Auditors, can restrict change once activity completed

Compliance calendar

Alerts, Triggers, Notifications. You never miss the Due date

Financial Analytics

Integrated with Financial Accounting Software. All real time financial reports can be viewed/accessed thru this feature

Chatroom

Integrated chatroom facility.One can simply type messages, give instructions, receive replies. All communication traces are available

Coverage

All applicable statutes such as Income Tax, Indirect Tax, Labour Laws, Corporate Laws.

With AWS hosting, CiB becomes the most secure, stable and powerful cloud compliance software in the GRC domain. AWS has uptime of 99.989% in EU West, 99.997% in APAC and 100% in US East and West.

Workflow of Compliance iNBox

General Workflow:-

  1. Controller/Manager creates task with timelines
  2. Controller/Manager assigns the task to resources
  3. Resources work on the task and share documents with manager for review
  4. Manager review the document, if more work is needed, he sends it back t resource for rework. If no further work is required then document saved in final folder and task is closed.

Workflow of Compliance iNBox

E-Audit Workflow: –

  1. Audit Partner works with Audit Manager to understand the type of Audit Plan requirement for a company.Audit Manager works with Audit Partner to create the Audit Plan.
  2. Audit Manager creates the Audit Plan for a company with all necessary requirements of audit documents and assign the activities to Resources.
  3. Company Manager acknowledge the received Audit Plan and assign the same to Company Resources.
  4. Company resources work on the activities and provides all necessary details to Company Manager for initial review.
  5. Company Manager conduct initial review and send to Audit Team for final review.
  6. Audit Resources checks all the provided details and moves the same to Audit Manager for final review.

STORY ABOUT US

Boston Financial Advisory Group (BFAG) is a one-stop-shop for all your accounting and financial consulting needs. We are a premier provider of managed financial accounting, consulting, and advisory services. Led by seasoned CFOs, with decades of experience in the manufacturing, technology, trading, and services industries, BFAG is the financial outsourcing partner of choice for several companies across the world.

Manage

Manage documents and Quick access whenever required

Processes

Information and Process available for Various Activities

Training

Free access training and support and from Boston Financial

Data security

Various administrative controls to maintain data security

Quick Software Overview

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VALUES AND BENEFITS

values and benefits

Workflow

Let’s see Compliance iNBOXin action: Mr. Henry Wilding, CFO of XYZ Inc., has to comply with the Advance Taxes provisions applicable to the company. He wants to assign the work to his employee Mr. Jack Don, who is out on a business trip for two weeks. In the conventional scenario, Mr. Wilding would have had to wait for Mr. Don to return before assigning the work to him.

However, Mr. Wilding, is a user of Compliance iNBOX. He logs into the solution and assigns the Advance Taxes management task to Mr. Don, who immediately receivesan email notification for the same. Mr. Don can log into this SaaS-based solution from anywhere and quickly acquaint himself with the task at hand.

He can use the help documents and standard documents, Process, Related applicable Lawsto complete the task and upload all his workings and closure documents online.

An automatic mail is sent to Mr. Wilding once the task is completed. Mr. Wilding can log into Compliance iNBOX to review the task. If he finds something amiss, he can reopen the task and ask for clarifications. Once Mr. Don provides the additional information and makes the necessary changes, Mr. Wilding can review the changes and mark the task as complete. This way, the entire work is completed even before Mr. Don returns from his trip! Not a day is lost and the work is done to perfection.