India’s leading brand for compliance announced its entry to Sri Lanka with the introduction of its global E-Governance and Compliance Platform with a leading Sri Lankan Enterprise Renewal and Change Specialist company on September 30.
Aparajitha Corporate Services Private Limited, India’s leading brand for compliance said on September 30 it is entering Sri Lanka in association with Colombo headquartered 3W Consulting –an Enterprise Renewal and Change Specialist – to position its Global E-Governance and Compliance Platform ‘Compfie’ in Sri Lanka’s compliance market. Aparajitha’s entry marks the first major development for the strategic country partnership between Aparajitha and 3W.
In an online media conference on September 30 to announce the entry, Nagaraj Krishnan, Managing Director, Aparajitha Corporate Service Private Limited said they chose to synergise with Sri Lanka’s 3W due to many factors. “Uniformity of laws in both countries, proximity, cultural fit, opportunity to explore Asia Pacific, Sri Lanka being a virgin market are among the factors that we considered. More importantly the 3W advantage – their Human Resource space in Sri Lanka, terrain knowledge in the country and their links to decision makers” Krishnan said and added: “The DNA of ‘Compfie’ is it’s a compliance selfie of the organisation.”
Stefan Moraes, Managing Director, 3W Consulting said that Sri Lankan companies are increasingly becoming strict on compliance. “Sri Lankan corporate boards are strict on compliance violations. Usually compliance is internal driven –its in the company hands. One effect of this is that it may not be sustainable. This platform will help in the sustainability aspect of compliance. Especially this solution is a bleeding edge solution in business continuity planning-especially in export market-you don’t know who is at the other end.”
Compfie is an online Compliance Management tool on a cloud platform designed to global standards with a combination of sector/industry-specific knowledge, with compliance metrics within the legal framework & policy standards of Sri Lanka. Technological insights uniquely position our teams to work with organizations to achieve end-to-end digital transformation. From strategy to processes to tech enablement to regulatory changes, our multi-disciplinary teams take a holistic view of how country-specific laws, platforms and compliance output behaviours across the front, middle and back offices need to evolve.
Krishnan also added of the huge market opportunity through Sri Lanka. “Compfie acts as a Risk mitigation tool which addresses the board room worry that arises out of regulatory compliance risks for the Board of Directors and Investors. Aparajitha Strategic country partnership with 3W for Srilanka is intended to set a tone for the compliance culture in the country. The potential Market share of 1800 Crore plus in Srilanka will give us an opportunity to participate in the economic growth of Srilanka while also contributing to the employment opportunities and ITES development in the country.”
3W’s Moraes said: “Through our offering we look forward to setting a tone of organised compliance culture in Srilanka and easily capture the Market Share in the Compliance space throughout the country.”
Krishnan also said that Aparajitha is looking forward to entering Singapore, Malaysia, Philippines, Indonesia and Australia in the coming months. The company is simultaneously also exploring foray into the UAE, UK and the US markets.
3W Consulting is Sri Lanka’s leading Enterprise Renewal, Transformational Consulting and Training business are responsible for transforming top tier blue-chip organisations. Our consulting experience spans across 50 industries including hospitality, banking & finance, FMCG, retail, apparel, insurance, manufacturing, investment, government etc. and have worked with a clientele of over 1000. With a proven track record and wealth of experience in consulting, the company has conducted international projects in Maldives, India, Bangladesh, Bahrain, Cambodia, Vietnam, Hong Kong, Middle East and Africa. India’s Aparajitha Corporate Services Private Limited is today India's number one Company for Regulatory Compliance. With presence in all the states and union territories across the country, Aparajitha is well recognised as a Pan-India expert in dealing with the complexities in Labour Law and Industrial Law compliances. Our 1500 plus clientele ranges from Start-ups to Industrial Giants to Multinational Companies to reputed Corporate houses across 100 Plus Industries. Aparajitha’s cost-effective solutions are designed and monitored by 1300 plus compliance experts to address all the current and future compliance requirements of organisations. The operations and services are guided by professionalism and principles that stem out from Aparajitha’s core values and business ethics of integrity, trust, continuous learning and partnering progress. The company’s goal is to build enduring long term relationships with their clients by partnering with them for mutual growth and benefit.