In an era where technology revolutionizes industries, compliance management is no exception. Core Integra, a leading provider of labor law compliance solutions, has developed Ctrl F, a cutting-edge SaaS-based platform that revolutionizes traditional compliance management methods. In this exclusive interview, SmartStateIndia got an opportunity to sit down with Mahesh Krishnamoorthy, the Managing Director of Core Integra, who talked about Ctrl F’s scalability across industries and continents, the robust data security measures implemented, and the emerging trends and technologies that lie ahead in the compliance management space. Join us as we uncover the transformative power of Ctrl F and gain valuable insights from the visionary leader spearheading Core Integra’s mission to simplify and enhance labor law compliance.
Here’s an excerpt from the interaction:
Can you highlight the benefits of using a SaaS-based compliance solution like Ctrl F, and how it differs from traditional compliance management methods?
Traditionally, labour law compliance management involves a good amount of manual efforts, forms & formats, excel sheets, box files etc. Technology solutions in the space of compliance management has come in only in the last decade or so and the adoption is still scaling primarily due to the nature of activities having good dependency on liaison with authorities. There are many so called Compliance Management Tools in the market today but a vast majority of them are checklists where you fulfil compliances outside the system and update it in the tool for record keeping and reporting. Ctrl F is significantly different from such tools since it is a full fledged execution platform which integrates with Client HRMS, Accounting ERP to provide seamless secure transmission of data, generates documents including registers and returns in Central and State formats, many of them being bi-lingual. The SaaS-based plug-and-play tool gives free access to 40,000 pages of the Indian labour laws; 1000+ Laws and Acts, 10,000+compliances, 20000+ legal updates, 1000+ register and return formats including approx. 200 bi-lingual formats and more. Being an integrated governance, risk and Compliance software, it manages contracts, litigation, risks, controls and audits. The software also tracks policies, procedures, SOPs etc. With automated alerts and triggers supporting the comprehensive dashboards and reports, the intuitive and easy-to-use modern design & interface is designed for an enhanced visual experience.
Can you discuss a specific use case where Ctrl F helped a client achieve significant improvements in compliance management and risk reduction?
I can mention the case study of one of the largest EPC in India managing global projects as well. CtrlF manages the entire end to end compliance workflow for Contractor management which includes aggregation, onboarding, verification & validation, processing, attendance management, wage runs, record-keeping, generation of registers & returns in bi-lingual formats across multiple States, performance tracking and real time dashboards. The Client has over 300 sites with over 3000 Contractors across all States in India and has been using Ctrl F for over 3 years now. Other than centralized record management, accurate processing and real time information, Ctrl F has been able to control revenue leakage and ensure 100% compliance adherence in a segment where maximum non compliances are prevalent putting Principal Employers to highest level of risk.
With over 500 entities and 7000 enterprise users in 24 industries, how does Ctrl F ensure that its solutions are scalable and can meet the needs of clients with varying levels of complexity and compliance requirements spanning across continents?
Core Integra has subject matter expertise in labour law compliance catering to over 500 Clients across 30 industries for the last 15 years. We have a strong research and operations team which is well networked and continuously updates Ctrl F with the latest regulatory changes and requirements. Since the framework is agile, it becomes easy for Clients and the Support teams to customize the approach for different size and scale across industries.
How does Core Integra approach customer support and training for its clients, and what steps do you take to ensure that clients are able to effectively use and benefit from the Ctrl F platform?
Trainings at the beginning of the relationship and continual training models are part of our standard service offering to all our clients. Notifications are automatically sent from Ctrl F for all changes and updates on a regular basis. Product enhancements and new modules are offered to all Clients along with training session on the new introductions. We also run many customer knowledge sessions, not restricted to software usage, but extended to the compliance domain to ensure that our Clients and Users have in-depth knowledge of compliances rather than restrict their knowledge to the technology solution alone.
With a cloud-based solution, how does Core Integra approach data security and privacy, and what measures do you have in place to protect sensitive information?
Ctrl F is ISO 27001, ISO 9001 and Cert-in VAPT certified. We use AES encryption standard with all data stored in Indian geography with restricted login architecture and SSL encryption. Our servers are hosted on data centres with defined security standards and compliance certifications with off-site cold back up, near site DR and multi-DC server-based DR.
Can you discuss any emerging trends or technologies in the compliance management space that you are particularly excited about, and how you see these evolving in the coming years?
With the financial compliance space being heavily digitalized over the last decade and the Government moving its attention to the labour law compliance space in the recent years, I am confident that we can look forward to many initiatives towards simplification and consolidation of labour laws towards ease of doing business in India. Over the next decade, this industry will transform from primarily services based to largely advisory and technology based. Core Integra is geared to move in this direction, and we do have the early mover advantage being a national level player and Ctrl F being the largest and most comprehensive labour law compliance platform in India.