Vendor Audit Management System

Effective vendor compliance management is necessary to uphold the principal employer’s compliance status. A proactive approach to measure risk in your vendor management program is important to protect the organization from non-compliance Audit Management System (AMS) is an enterprise-class compliance solution that digitizes the vendor audit process. AMS is a tech-enabled platform that aims at overhauling the complete vendor audit management process and creating better controls and central tracking of all vendor and project-related compliances. AMS automates the vendor audit process wherein auditscan be Scheduled, initiated, triggered, and completed in the system virtually. Clients will have dashboard access to the tool to track daily activities, assess vendor risk based on criticality score, and generate risk reports and real-time collaboration. Audit checklist will cover end-to-end labour law compliances including Minimum Wages, EPF, ESI, Bonus, LWF Contributions, maternity benefits, accident-related issues, maintaining the records and registers, submissions to departments etc.

Life-Cycle of AMS: Ricago AMS+ aims at easing the burden on the internal HR teams, by deploying the subject expert team to validate and co-ordinate with the vendor to complete the audits and maintain the compliance health. This process is backed by the tech enabled AMS, which gives a real time status report to the client

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Configurable system:

vendors Audit Checklists are tailored to the business vertical, location and strength of the staff forvendors

Document repository:

Documents related to multiple vendors can be stored and viewed in a single window and can be accessed from anywhere

Real-time status reports:

Real time reports to know the compliance health status including the criticality score of each vendor individually

Comprehensive dashboards:

Dashboard view access to key stakeholders of the client, with drill-down option to sort as per the requirement

CASE STUDIES

AUTOMATING THE COMPLIANCE MANAGEMENT FOR A MANUFACTURING CONGLOMERATE

Complexity of managing organization compliances across multiple legal entities/ locations/ geographies and business functions. Dynamic regulatory requirements make the process more complex, Email/excel/file share mechanisms are not collaborative and adequate andAudits or Regulatory Notices require immediate retrieval of evidences. Increased risk to Directors/CXOs/Promoters and Organization’s Brand.

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Audit Management System (AMS)

Find out about how our services can be integrated into your business

AUTOMATING THE COMPLIANCE MANAGEMENT FOR A MANUFACTURING CONGLOMERATE

REQUEST A DEMO

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