Digitization in Compliance and Governance

In February 2020, The Ministry of Labour and Employment took the digital route to bring services related to labour and employment by launching a new online portal ‘Santust’.  This was done to push and promote transparency, accountability, effective delivery of public services and implementation of policies, schemes of Ministry of Labour and Employment at grassroot level through constant monitoring.  They have also started Centralized Public Grievance Redresal and Monitoring System (CPGRAM) portal to address public grievances.

Like every other aspect in this modern world, governance of various laws has also gone digital. That with the current pandemic and the social distancing norms, digitization has increased in scale.

The Labour departments of various states have gone digital wherein registration, renewals as well as inspection can be done online. The website also includes the status and schedule of each process. For example, the Delhi government is asking contractors to upload their registers with payment details to check before they issue licenses.

Audit for most companies has also gone online. There are various softwares and tools to make this possible and easier. These softwares run audits at any time with any desired frequency. Audits are scheduled across different departments simultaneously without having any conflicts. They also remind auditors when an audit is due. Most of them are equipped  with advanced capabilities like built-in remediation, email-based notification, risk assessing methodologies, and various such functionalities to implement best audit functioning and integration. They allow organizations to tackle all the complex challenges in an easy manner. They can provide solutions like responsible sourcing, security, asset management, and product stewardship. A few of them come with the competence tool that makes it easier to tailor, extend, and integrate the process as per the scheduled demand. A few of them also allow you to resync with your enterprise even from the remote most location that lacks network connectivity. These audit softwares ensure quality and safety of audits and data.

Artificial Intelligence or AI has been around for about 30 years now. People are still understanding and learning more about the potential benefits of AI. Businesses have started implementing AI tools to increase business efficiencies and to add a further layer of customer protection of their processes. This is a clear move forward in technology and ease. Certain AI tools are being used for compliance and governance in all sectors.

Checkr

Background check compliance violations and litigation can cost companies millions. Checkr’s compliance engine helps keep up with evolving regional compliance laws to stay ahead of the curve. While other consumer reporting agencies are forced to process every record manually, Checkr’s machine learning tools categorize data clearly and consistently.  Checkr’s platform is constantly learning, giving customers greater clarity and control.

Advantages of Checkr

The platform uses artificial intelligence to help hire quickly without sacrificing accuracy or compliance. It increases efficiency by reducing the time spent on manual review. It increases accuracy with identity-matching technology. It helps reduce risk with dynamic compliance safeguards.