In an exclusive interaction with SmartStateIndia, Mr. Sameer Kulkarni, Chief Information Officer at Core Integra, sheds light on how the company is transforming the compliance landscape with cutting-edge technologies like Robotic Process Automation (RPA) and Artificial Intelligence (AI). Core Integra’s flagship solution, Ctrl F, is India’s first SaaS-based labour law compliance platform, providing businesses with a centralized and automated framework to navigate complex regulations effortlessly. With a focus on reducing compliance costs by 30% and saving hundreds of man-hours annually, the company is poised for exponential growth, aiming for a 300% increase in client acquisitions this year. In this interview, Mr. Kulkarni discusses the company’s innovative approach, ambitious expansion plans, and vision to redefine the traditional compliance industry.
Can you provide an overview of Core Integra and its core solutions, highlighting how they address the compliance and regulatory challenges faced by businesses today?
Core Integra, a 15-year-old company with over 500 clients across 25 industries and 1500+ locations in India, is a recognized market leader in compliance services. The Indian regulatory landscape is complex, with multiple acts and compliance requirements listed under the concurrent list of the Indian Constitution. These regulations vary by state, and both state and central governments share inspection powers in many areas.
Core Integra boasts a team of experts who, supported by advanced technology, guide clients in adopting the best compliance practices. The company’s proprietary tool, “Ctrl-F” offers a range of features, including identifying applicable compliances, managing registrations and licenses, tracking regulatory changes, monitoring compliance risk areas, maintaining documents, storing filed returns, and generating mitigation plans and review requirements. This tool is designed to be the future of compliance management. By considering factors like location, industry, and employee count, Ctrl-F determines the relevant compliances for each industry. The system ensures governance, identifies risks for mitigation, and helps maintain compliance across various sectors.
Core Integra’s Ctrl F, a web-based tool, enhances its functionality by mapping applicable compliances, tracking compliance status, assessing compliance levels, creating mitigation plans, and providing real-time monitoring through advanced dashboards. With upgraded tech support, the tool offers a comparative report on environment-related compliances, enabling clients in the renewable energy sector to better understand their risks and take proactive measures for mitigation.
Can you elaborate on how RPA and AI have been integrated into the Ctrl F platform, and how these technologies are transforming compliance management for businesses?
Technology innovation and artificial intelligence (AI) have become integral to daily life, addressing both basic and complex needs. The growing adoption of AI by top compliance professionals is driving significant improvements in performance and efficiency within the workplace. AI tools play a key role in monitoring and managing compliance, enabling renewable energy companies to operate error-free. With the support of advanced machine learning and AI technologies, compliance professionals can enhance efficiency and significantly reduce the time spent on compliance-related tasks.
The Ctrl-F platform integrates Robotic Process Automation (RPA) and Artificial Intelligence (AI) to revolutionize compliance management for businesses. RPA automates repetitive tasks such as data collection, validation, and reporting, significantly reducing manual effort and minimizing errors. For instance, it can automatically extract compliance requirements from regulatory updates and map them to specific business processes, ensuring prompt and accurate implementation.
AI complements this by leveraging natural language processing (NLP) and machine learning to analyze complex legal texts and identify compliance obligations. It can predict potential non-compliance risks, offering actionable insights to businesses before issues escalate. AI-driven dashboards in Ctrl-F provide real-time visibility into compliance statuses across multiple jurisdictions, allowing businesses to stay updated and proactive.
Together, RPA and AI enable Ctrl-F to streamline compliance workflows, enhance accuracy, and ensure seamless alignment with diverse regulatory requirements across 28 Indian states. This integration not only saves time and costs but also empowers businesses to focus on strategic goals while maintaining robust compliance.
Compliance is traditionally viewed as a complex and manual process. How is Core Integra working to change this perception through technology?
The Indian regulatory environment is vast, with numerous acts and compliances, many of which are listed in the concurrent list of the Indian Constitution. Regulatory legislation is not uniform across the country; it varies from state to state, with each state establishing its own rules and regulations. Both state and central governments share authority over employment conditions, wages, and health and safety-related matters. To regulate employment conditions, the state and central governments enforce a variety of Acts, Rules, and Regulations, each with a wide range of compliance requirements. These Acts can also initiate criminal proceedings against company owners for non-compliance.
The complexity of the labour environment demands continuous updates, expertise, automation, and expert support to navigate the journey towards full compliance. Organizations must maintain a comprehensive, up-to-date checklist or tool to identify applicable compliances, establish review mechanisms to validate compliance status, monitor risk indicators, create mitigation plans, and provide advisory services to initiate corrective actions and reduce non-compliance risks.
Core Integra’s expertise in compliance, along with its customized Ctrl F tool, forms the foundation of its support in addressing compliance challenges. Core Integra’s compliance services begin with an assessment to identify non-compliance issues, followed by updates on recent changes issued by the relevant authorities. The company advises renewable energy companies on the impact of these changes. Core Integra also assists renewable energy sector companies in obtaining the necessary clearances, registrations, licenses, no-objection certificates, and approvals to avoid delays in their operations. Through its business model, Core Integra regularly connects with renewable energy sector clients to review compliance dashboards and provide mitigation plans in the event of non-compliance. By leveraging technology, Core Integra effectively supports the renewable energy sector in resolving complex challenges and ensuring compliance.
Ctrl F provides free access to over 40,000 pages of Indian labour laws and other compliance resources. How do you ensure the accuracy and timely updates of such a vast library?
In our journey to becoming a market leader in the compliance environment, we have begun assisting companies and HR groups by providing valuable resources through our website, https://ctrlf.coreintegra.com, under the Resource page. This page offers knowledge on various basic requirements, as outlined below. There is no need to register to access the resource page or retrieve relevant updates and copies of notifications.
We have started updating real-time information, including notes on changes related to minimum wage laws, amendments to Acts and Rules, advisories, instructions, gazette notifications, abstracts, and more. This helps HR and compliance professionals understand the changes, their applicability, and their potential impact. Clear, downloadable copies of all notifications are uploaded for reference.
India’s complex regulatory environment varies significantly from one location to another. With over 25 regulatory authorities governing each business unit, staying compliant with these requirements is a constant challenge. Many state-level regulations are updated frequently, and the cost of non-compliance is high, potentially damaging the reputation and causing financial loss to a company’s stakeholders.
Advanced AI algorithms and machine learning techniques are used to streamline the legal update process, greatly improving efficiency and accuracy. AI-powered legal research tools can quickly analyses and categorize vast amounts of legal documents, identify relevant case law, and extract pertinent information with precision. AI simulates human intelligence in machines, enabling them to learn, solve problems, make decisions, and understand language.
We understand that tracking regulatory changes through traditional methods is a complex, time-consuming task that often lacks accuracy and authenticity. Our AI-powered tool, with its structured processes, delivers faster results by quickly identifying changes notified by regulatory authorities. The Ctrl F tool updates users on these changes, providing detailed explanations in layman’s terms for easier understanding. Additionally, the tool highlights the swift action required and the business impacts of key regulatory changes.
Core Integra aims to achieve a 300% growth in client acquisition this year. What strategies or innovations are you leveraging to accomplish this ambitious target?
Core Integra’s strategy for achieving 300% growth is centred around continuous improvement and delivering better services. The company firmly believes that technology will play a crucial role in driving this growth toward the 300% target.
Our Ctrl-F knowledge platform is India’s largest and most comprehensive labour law compliance software. Accessible at ctrlf.coreintegra.com, Ctrl-F provides free access to essential compliance resources, including compliance calendars, the latest notifications, circulars, court rulings, minimum wage updates, holiday lists, working hours, and overtime regulations. The resource page is open to all users without the need for registration.
We offer real-time updates on critical compliance matters, including changes in minimum wage laws, amendments to Acts and Rules, advisories, instructions, and gazette notifications. This enables HR and compliance professionals to quickly understand the impact, applicability, and scope of these changes. The platform also features a filterable table to identify relevant minimum wage information, along with downloadable notifications for easy reference.
Additionally, we provide a list of mandatory and optional national and festival holidays, helping businesses comply with regional requirements. Our database also includes permissible working hours and overtime rules for shops and commercial establishments across various states and UTs, with plans to expand coverage to additional industries. Monthly newsletters keep organizations updated on the latest compliance changes, significant rulings, and upcoming due dates.
A key part of our strategy is the adoption of an advanced compliance monitoring tool, capable of identifying applicable regulations and prompting proactive actions to ensure compliance. This tool helps businesses avoid missed deadlines and shortfalls in remittances, preventing penalties such as interest payments and fines.
By offering accurate compliance support and mitigating the risks of non-compliance, Core Integra enables its clients to grow faster and achieve their business goals with confidence
With advancements in technology, where do you see the RegTech industry heading in the next five years, and what role will Core Integra play in shaping this future?
In the next five years, the RegTech industry is poised to experience significant advancements driven by technologies such as Artificial Intelligence (AI), machine learning, blockchain, and automation. These innovations will enhance regulatory compliance by enabling real-time monitoring, predictive analytics, and streamlined reporting, making it easier for businesses to stay compliant across multiple jurisdictions. The integration of AI and advanced data analytics will further optimize risk management, offering businesses actionable insights and enabling faster decision-making.
Core Integra, with its flagship product Ctrl-F, is well-positioned to play a pivotal role in shaping the future of RegTech. By continuously enhancing its platform with cutting-edge technologies like AI, RPA, and blockchain, Core Integra will drive efficiencies, reduce compliance costs, and improve accuracy for businesses. The platform’s ability to automate and simplify compliance tasks will be key in supporting organizations as they navigate the ever-evolving regulatory landscape. With a focus on providing seamless, scalable solutions, Core Integra will be at the forefront of delivering value to businesses, helping them maintain compliance while focusing on growth and innovation.
