Ensuring Regulatory Compliance in MNCs: Key Challenges and Tech-Driven Solutions
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Vendor Compliance Services
Vendor Compliance Services
Vendor Compliance Services ensure your business maintains high standards by managing vendor relationships, contracts, and compliance with all regulatory requirements efficiently and accurately.
Who Needs Vendor Compliance Services?
Vendor Compliance Services are essential for small and large businesses across various industries including manufacturing, construction, IT, healthcare, and hospitality. These services are particularly critical for companies operating under strict labour laws and regulations related to contract workers. Aparajitha’s Vendor Compliance Services are crafted for all stakeholders, including the principal employer, the contract workforce, and the contractor.
Possible Consequences of Vendor Non-Compliance
- Absorption of the contract labourers
- Payment of arrears of contribution with interest
- Fine/Imprisonment
- Prosecution of the employer or board of directors
Our Comprehensive Services
Vendor Compliance Management
Contract Labour Management
Statutory Compliance
Statutory Returns and Payments
Labour Law Compliance
Additional Compliance Services
Why Do You Need Vendor Compliance Services?
- Legal Compliance
- Risk Management
- Cost Savings
- Ethical Responsibility
Mitigate Compliance Risks through Simpliance’s GRC platform
Our services include Simpliance’s Vendor Compliance Product suite, designed to:
Track and monitor Vendor compliance tasks
Gain real-time insights through reports and dashboards
Manage regulatory changes effortlessly
Track and monitor compliance tasks
Gain real-time insights through reports and dashboards
Manage regulatory changes effortlessly
End-to-end digitalised attendance monitoring system to capture entry, work hours, and exit of contract workers
A centralised, cloud-based system for contractors and principal employers to track attendance, generate statutory registers, process contractor’s payroll and view reports
With Simpliance, you can ensure your vendor operations remain compliant effortlessly while gaining a comprehensive overview of your compliance status at all times.
Book a demo today to see how Simpliance can transform your Vendor, Governance, Risk, and Compliance management!
Frequently asked questions
Vendor compliance refers to the adherence of contractors to applicable labour laws & regulations. It ensures that vendors meet the compliance requirements related to quality, safety & ethics, as mentioned by the law. Effective vendor compliance helps companies maintain operational standards, minimize risks, and prevents exposure to penalties imposed on the principal employer
Vendor compliance is crucial for:
- Legal Compliance
- Risk Management
- Cost Savings
- Ethical Responsibility
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