India's Regulatory Environment is Fluid
Until 2014, at rank 142 India was in the bottom quadrant of the World Bank Ease of Doing Business Rankings. India’s regulatory universe is highly complex. Business grapple with a universe of over 1,536 Acts, 69,233 Compliances and 6,618 Filings. It is also extremely fluid, changing over 3,000 times a year. Identifying the regulations to a business and then keeping them updated with frequent changes makes for a heavy compliance burden.
The global trend towards better corporate governance has echoed in India as well. There are greater scrutinies and higher penalties. The traditional model of compliance management through manual tracking has become a key constraint, leading to increased sins of omission (missed compliances) and sins of commission (incorrect compliances). Central, State and Local Governments publish thousands of regulatory changes on their own websites. There is no central repository for all the updates. It is left to the Compliance officers to know these websites, visit them periodically, find an update, interpret it and take necessary action.
Compliance Officers need Timely, Accurate and Personalised Compliance Updates to ensure that the organisation stays Compliant.
What is RuleZbook?
RuleZbook, by Avantis is India’s leading mobile App for National, Real Time, Comprehensive and Personalised Compliance Updates. It is available for IOS and Android Platforms for a quick download and easy self on-boarding.
RuleZbook is a feature rich native mobile app which is integrated with India’s best and most comprehensive Compliance Database. Its universe of over 1,536 Acts, 69,233 Compliances are updated typically within 24 hours of release of an update. In 2019, RuleZbook captured 3,029 Compliance Updates across Central, State and Local Compliance Categories.
RuleZbook gets updates from over 2,000 government websites daily. A strong team of 40 lawyers analyse these changes and tag them with Location (Central / State), Industry, Category, Ministry, Act, Compliance, Government Department and Keywords.
How does it Work?
A user can visit their App Store (IOS) or Play Store (Android) and download RuleZbook. They can create a User ID by using their mobile number and self on-board themselves by selecting Central / States, Industries and Compliance Categories. The system identifies the relevant Acts & Compliances and adds them to the User’s watchlist. The user will start getting the relevant updates via notifications.
Here are the key features: