Avantis Regtech, TeamLease’s Compliance Arm, Improves Profitability for PCS Firms, With the Launch of Their New Automation Platform

By AIT News Desk On Mar 10, 2021

One of the leading integrated compliance regulatory technology firms, Avantis Regtech, from the house of TeamLease Services has announced the launch of a new automation platform – AVASEC, for practicing company secretaries (PCS). A state of the art web and mobile platform, AVASEC will enable PCS’s to efficiently track and manage all pertinent compliances for their firm, as applicable under CA-2013, SEBI Regulations and Secretarial Standards. This is India’s first automation tool designed specifically for practicing secretaries.

Sharing more information about the new product, Mr Rishi Agrawal, CEO and Co-Founder, Avantis Regtech, said, “Currently more than a million companies in India outsource their secretarial compliance to PCS firms. Typically, a PCS manages 50 clients annually, in some large firms it may go up to 500. The current process is manual and thus extremely inefficient and time consuming. Additionally, it leaves room for human errors, missed timelines, incomplete documentation and poor compliance. AVASEC is going to solve this critical problem for PCS.”

AVASEC automates the entire process where crucial documents like agenda, minutes of the meeting, resolutions, disclosures, e-forms and e-registers are auto-generated. The platform creates a central repository of documents with rich search, sort and filter capabilities making audits easier.

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“The advanced automation will make the process less cumbersome and free up time of PCS partners for more value adding activities. AVASEC will make PCS firms grow faster and more profitable”, added Mr Agrawal.

The platform will be available without any cost for companies (up to 200 entities) for this financial year. This will enable PCS to get their digital journey started, seamlessly.