Bengaluru– Product start-up firm Simpliance on Monday unveiled here an ERP-based software tool for compliance with the Indian labour laws by stakeholders.
“The SaaS-based plug-and-play tool gives free access to 40,000 pages of the Indian labour laws for compliance management by enterprises, factories, shops and businesses in the country,” said Simpliance Founder Anil D’Souza.
SaaS is a cloud computing model in which a third-party provider hosts applications customers can access on the internet and its software is licensed for a fee.
“Labour law compliance is beset with complications unlike financial or other industry regulations, which have players with designed systems for governance and course correction,a noted D’Souza.
The labour compliance industry in India is estimated to be about Rs.600 crore.
The two-year-old software firm has also signed deals with a few corporates for implementing the enterprise-wide compliance across their pan-India branches.
“We are targeting 10,000 licenses to bring more companies under the compliance ambit by this year and expand to overseas markets, including Sri Lanka, Malaysia and Singapore by 2018,” asserted D’Souza.
As compliance to labour laws by Small and Medium Enterprises (SMEs) is expensive due to their complexity and constraints in applying them uniformly across industry verticals, the company has automated the solution to help them identify the regulatory needs in an intuitive and user-friendly manner.
“We will expand its scope to cover all regulatory compliances and standards in the future,” added D’Souza.
D’Souza also announced that the city-based leading integrated business services provider Quess Corp had invested Rs 2.5 crore for 45 per cent equity stake in Simpliance.
Chief design officer Subbramanya Raju, Chief Operating Officer Hansa Sharma and Legal Operations Head Madhu Damodaran are the three co-founders of Simpliance. (IANS)