The pervasiveness of technology continues to create tailwinds and affect the lives of modern person. The surging digitalization is pushing sectors to shift the way they operate and further dictating how and where businesses should focus in the coming decade. Over the years, technology has had a critical influence on the compliance ecosystem. Innovations allow compliance regulators to harness opportunities while mitigating negative effects that stem from potential technological misuse. With the adoption of compliance tech surging across sectors, the industrial space is following suit.
Since 2020, the evolutions of policies and innovation have increased the demand for user-centered strategies, and compliance has become cumbersome. Nevertheless, tech-based compliance solutions can advance the industrial sector by lowering regulatory labor costs, gaps, and safety threats. Aparajitha Corporate Services, a Chennai-based tech compliance firm, is pioneering in this regard. With over two decades in business, the firm has become a revolutionary milestone for tech-based compliance services.
The CEO Story Magazine recently interviewed the firm’s CMO, Mr. Rajesh C, to learn more about its objective and the visionary driving its glorious expansion. The elegant read summarizes our conversation.
COMING TO PROMINENCE
Aparajitha was established in the early years of the new millennium, when the seeds of mainstream compliance were just being sown. Compliance was not a popular concept among the general populace, and businesses that dealt with the government or with legal duties occupied the market. Other than them, multinational companies needed it as an add-on function to their HR or legal departments, relying heavily on local consultants. The scenario inspired Mr. Nagaraj Krishnan (Managing Director), a compliance industry veteran, to enhance clients’ existing models in order to set the tone for the procedures necessary to assure 100% compliance. The thought process led to the inception of Aparajitha. With a goal of offering end-to-end compliance services, it developed domain-specific services, assisting businesses with the necessary licenses and registrations under each domain.
And so, Aparajitha set out on a remarkable quest to become a pioneer. After 22 years of effort and many challenges, the firm now dominates the market for highly advanced labor, industrial, and financial compliance solutions. It now has a PAN-Indian presence with a team of 2,000+ compliance specialists, partners with 2,000+ enterprises, services 60,000+ enterprises, 4.2 million contract laborers, and 1000+ factories. It has also developed top-notch automated compliance solutions to lessen the onerous strain and digitize the documents needed for compliance operations.
ATTUNED TO CHANGING MARKETS
The increasing regulatory changes have made compliance across all industries a little more challenging than it used to be. The transgressions because of the pandemic are further hindering regular operational and compliance activities. The scenario cannot be cited as grounds for non-compliance as it will pose obstacles to long-term business operations. The substantiating digital revolution is, however, a silver lining against the compliance hurdles. By merging the compliance strategy with the company’s goals, tech-based compliance not only keeps companies compliant but also encourages them to take a holistic approach.
Aparajitha’s services are specifically designed to meet the demands of businesses and cover the complete range of end-to-end compliance and audit workflow automation. Compliance risk audit, business compliance, factory compliance, mine compliance, labour compliance, industrial licensing, flexible staffing, and payroll services are among its offerings.
With a PAN-India base, Aparajitha is aware that each state’s regulatory environment is unique. As a result, it makes sure that each offering has a fine blend of technology and knowledge. These aid in displacing laborious manual tasks, preventing errors, and scrupulously adhering to laws. In the end, clients only need to concentrate on increasing their profits while Aparajitha streamlines their internal audit, risk management, and compliance processes.
R&D – THE HEART OF ALL INNOVATIONS
Aparajitha’s uniqueness lies in its knowledge-tech solutions. However, its uniqueness is fueled by significant R&D investments. Given the constant flux of changes and obstacles, the firm’s R&D focus remains on enhancing its legal side and knowledge base. The firm ensures that it stays current with any modifications and legislative changes. It is affiliated with government bodies that regulate changes, making it easier to incorporate them. Also, the firm uses a strategic approach called “Voice of the Market.” In a broad sense, the approach helps capture all kinds of market updates that can contribute to product usage. Every piece of information is constantly scrutinized and validated in order to improve product functionality.
A fine illustrative outcome of Aparajitha’s end-to-end R&D is Simpliance, an intelligent Compliance Automation Platform enables clients to curb non-compliance risks while giving them access to all the statutory requirements and their status on the move. Putting it simply, it helps in digitizing all compliance documents and meeting relevant criteria, ultimately enhancing operational efficiency and growth.
A LEAGUE OF DILLIGENT PEOPLE
Aparajitha has been an integral part of many success stories over the last 22 years. More importantly, it has helped both big and small players build a sophisticated culture. The firm believes in leading by example; therefore, it fosters accountability with an exceptional emphasis on governance, risk, and compliance. With a presence in almost every state, it uses digital channels to ensure freewheeling communication and connectivity. This also expands employment opportunities, and the right talent can find a stepping stone in their career in any state.
When it comes to employees, people at all levels have a voracious appetite for knowledge and work hard to keep it up to date. And the firm ensures a very conducive environment for them. Along with this, the leaders instill in the associates a sense of ownership and responsibility. This keeps them engaged and respectful toward each other, thus preserving a strong and structured work model across all locations.
NAGARAJ KRISHNAN – THE VISIONARY BEHIND THE LONGITUDINAL GROWTH
“A real leader need not be at the front, but is pleased to point the way.”Mr. Nagaraj started this
journey to redefine compliance and set new standards. The effort has made Aparajitha an ecosystem of dynamic leaders and associates. This was a team effort, no doubt, but Mr. Nagarajan’s knowledge and experience still shine through in each step. His experience in labor and industrial laws, combined with a logical, process-oriented approach and people-focused leadership, has made Aparajitha the market leader in “Compliance Knowledge Process Outsourcing Services” in India. He has been recognized as a thought leader in his domain for over two decades.
His determined to digitalize compliance management around the world with robust automated solutions with compliance intelligence and flexibility to deploy across geographies and industrial sectors apply to both MNCs and small establishments. Mr. Nagaraj is also a trustee to Aparajitha Foundation – the firm’s social arm. The foundation is dedicated to youth development through proper training programs and building strong sustainable communities. Besides being an affable leader, Nagaraj is an avid sportsperson who passionately promotes Badminton and Golf.
ON A HIGHWAY OF CONTINUOUS SUCCESS
In its journey to redefine compliance, Aparajitha has earned multiple milestones and accolades. It has a record of serving 100+ industries and has conducted over 100 knowledge webinars and conclaves. It’s partnered with renowned associations like RAI, CII, NIPM, and NASSCOM. Their Compliance Automation Platform received the CII award for the Top 25 Innovative Product (2019-20). Reputable publications such as Mirror Review have included it in their list of the “Most Reliable Risk & Compliance Tech Solution Providers” and the “Most Promising GRC Solution Providers” by CIO Review.
Sitting on such achievements, the firm is eyeing to become the biggest Tech-based Compliance firm with $1 Billion turnover. It seeks to create more breakthroughs in the compliance space and emerge as a global leader.
