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Aparajitha Corporate Service Managing Director Nagaraj Krishnan (left) and 3W Consulting Managing Director Stefan Moraes
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India’s leading brand for compliance announced its entry into Sri Lanka with the introduction of its global E-Governance and Compliance Platform on 30 September.
Aparajitha Corporate Services Ltd., India’s leading brand for compliance, said it was 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 30 September announcing the entry, Aparajitha Corporate Service Managing Director Nagaraj Krishnan, 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. “The DNA of ‘Compfie’ is it’s a compliance selfie of the organisation.”
3W Consulting Managing Director Stefan Moraes, said that Sri Lankan companies are increasingly becoming strict on compliance. “Sri Lankan corporate boards are strict on compliance violations. Usually compliance is internally driven – it’s in the company’s hands. One effect of this is that it may not be sustainable. This platform will help in the sustainability aspect of compliance. This solution especially 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 and policy standards of Sri Lanka. Technological insights uniquely position Compfie’s teams to work with organisations to achieve end-to-end digital transformation. From strategy to processes to tech enablement to regulatory changes, the 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 spoke of the huge market opportunity in Sri Lanka. “Compfie acts as a Risk mitigation tool which addresses the board room concerns that arise out of regulatory compliance risks for the Board of Directors and investors. Aparajitha’s strategic country partnership with 3W for Sri Lanka is intended to set a tone for the compliance culture in the country. The potential market share of 1800 Crore-plus in Sri Lanka will give us an opportunity to participate in the economic growth of Sri Lanka 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 an organised compliance culture in Sri Lanka 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, he added.
3W Consulting is Sri Lanka’s leading Enterprise Renewal, Transformational Consulting and Training business, and are responsible for transforming top tier blue-chip organisations. The company’s consulting experience, having worked with a clientele of over 1000, spans across 50 industries including hospitality, banking and finance, FMCG, retail, apparel, insurance, manufacturing, investment, government etc. 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 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. The company’s 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.
