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RiiT

RiiT Offers a 360 analytical view of Related Party Transaction (RPT) in enterprises creating a perpetual repository. Aligned with the Companies Act, 2013, SEBI LODR Regulation, 2015, and Accounting Standards (AS-18), it ensures comprehensive compliance. The Solution provides a robust framework for managing RPT while emphasizing transparency and disclosure.

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Dynamic Dashboard
Dynamic Dashboard
Real Time Omnibus Approval and Validation

Real Time Omnibus Approval and Validation

Real Time Accounting System Integration

Real Time Accounting System Integration

Customized Approval Process

Customized Approval Process

Comprehensive Reporting

Comprehensive Reporting

Materiality Threshold Monitoring

Materiality Threshold Monitoring

Solution Features

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Automated Data Consolidation
 
 
  • Streamlines the process of consolidating related-party transaction data, eliminating the prevalent issue of mismatched and non-consolidated numbers.
  • Through automation, the system ensures accuracy and coherence in financial records.
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Integration with ERP Systems
 
 
  • Our system seamlessly integrates with existing ERP systems.
  • Enhances the overall efficiency of related-party transaction management within the organization.
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Real-Time Tracking and Monitoring with Notification
  • The solution enables real-time tracking of transaction, over-budget transactions, and non-monitored transactions and Preventing Ratifications
  • By providing timely alerts and notifications, it prevents delays in identifying and addressing potential issues
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Error Mitigation and Risk Reduction
  • With the introduction of automation, the likelihood of manual errors is significantly reduced.
  • The system acts as a safeguard against potential financial and reputational threats.
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Report on one click
  • Automated Report Generation
  • SEBI LODR Disclosure
  • Form AOC-2
  • Transaction Report
  • MBP4
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Approval metrics
  • RiiT can help you to take approvals on transactions falling outside omnibus limit depending on different criteria either from Audit committee, Board of director or shareholders
  • Assistance with the ratification process facilitates obtaining last-minute approval from the relevant authority. 
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OCR Technology Integration
  • Inclusion of Optical Character Recognition (OCR) technology elevates efficiency in handling declarations from Directors regarding related-party transactions.

    Upon uploading these documents, the OCR functionality ensures swift and accurate data extraction, reducing manual efforts and enhancing the overall accuracy of information.

Value Proposition

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Holistic Related-Party Transaction Management:
  • Complete Domain Knowledge: Benefit from our in-depth understanding of related-party transactions, ensuring that our platform caters comprehensively to the unique challenges and nuances within this domain.
  • Real-time Information Updates from MCA: Stay ahead with the latest information by capturing updates from the Ministry of Corporate Affairs (MCA) regarding Director outside relationships. This ensures that your organization maintains an up-to-date and accurate record of relevant data.
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Mitigation of Risks and Enhanced Accuracy:
  • Seamless ERP Integration: Achieve complete automation through seamless integration with Enterprise Resource Planning (ERP) systems. Our platform harmonizes with your existing infrastructure, providing a smooth and efficient workflow.
  • Streamlined Record, Manage, and Control Processes: RiiT empowers organizations to efficiently record, manage, and control the Related Party Index and Transactions. With built-in approvals, notifications, and automated report generation, the entire process is streamlined for maximum efficiency.
  • Customizable Reports for Statutory Compliance: Generate reports in the required format effortlessly, ensuring compliance with SEBI disclosure and other statutory reporting requirements. This adaptability ensures that your organization meets regulatory standards with precision.
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Business Impact and efficiency:
 
  • Reduced Business and Reputation Risks: Our platform acts as a risk mitigator, minimizing the potential threats to both business and reputation associated with related-party transactions. By incorporating advanced features, it provides a secure and compliant environment.
  • Increased Accuracy and Time Savings: Experience a significant boost in accuracy and efficiency. RiiT eliminates manual intervention, reducing the chances of human error. This not only enhances the accuracy of data but also saves valuable time for your corporate financial team.
  • Elevated Efficiency: RiiT contributes to an increase in the efficiency of corporate financial teams by automating tedious processes and providing a centralized platform for related-party transaction management.

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Compliance Management

Risk Management

Legal Solution

IPR

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Risk Management

Legal Solution

IPR

Corporate Governance

Consulting

Learn More

Connect with us

Contacts

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