How does it work

Lexplosion follows a 2 step systematic methodology for deployment of Komrisk:

  1. Regulatory Environment Analysis:
    1. Identification of applicable regulations
    2. Finalization of compliances
  2. Deployment of Komrisk:
    1. Cloud deployment of Komrisk,
       

Step I: Regulatory Environment Analysis

  1. Identification of Applicable Regulations
    Lexplosion prepares a preliminary list of Central and relevant State Government regulations (including Acts, Rules, Regulations, Circulars, Guidelines, Notifications etc.) for each of the Company Operating Units (Includes corporate office, development centers, factories, warehouses, representative offices etc) across India. Clarifications will be sought on a need basis for deciding on applicability of specific laws. The finalized list of operating unit specific laws (“law library”) will be presented to Client for review and sign-off.
  2. Finalization of Compliances
    For each of the identified regulation in the step above, Lexplosion creates a compliance checklist by organizing related information under various heads. The compliances are reported at a micro-level by reading Central Government mandated compliances with specific State Rules to identify exactly what needs to be done by the individual operating units.

Step II: Implementation of Komrisk 

Lexplosion offers following two options for deployment of Komrisk for Customers:

Cloud deployment of Komrisk

Lexplosion creates and configures a separate workspace in Komrisk for use by client’s users and where customized compliance content mapped to the applicable regulations will be available for reference and task mapping.

Komrisk is configured to send automated alerts to remind compliance owners of impending task deadlines and escalate to senior management when timelines have been breached. The software also provides the facility to create, version, approve, and archive all compliance documents. Real-time and personalized dashboards relating to user roles and responsibilities provide visibility into the compliance status by various custom filters. Drill down capabilities can be used to review compliance definition, track task ownership, activity history and other finer levels of detail. Being a web-based system, Komrisk can be accessed from the individual location using a standard internet browser.

Lexplosion ensures that the applicable laws are tracked on an ongoing basis and the company specific compliance database is updated to reflect the changed requirements of law.

More Information