Pradeep Kumar V, Founder CEO, Avanze Group
A joint initiative by Boston Financial Advisory and Avanze Group
Compliance iNBOX, an intuitive global solution introduced by BA Fintech through a joint venture entity between Boston Financial Advisory Group and Avanze Tech Labs to streamline and address all GRC (Governance, Risk, and Compliance) needs across organizations.
The online platform is developed by financial stalwarts to transform the traditional approach with new cutting-edge technology.
CiB ensures efficient resource management, global compliance management and Financial audits with complete data security. As a product, it helps with more accountability and increased efficiency. The key components of the product are to automatically monitor pertinent regulatory requirements, organize compliance documentation, track compliance event, manage e-audits and assessments, and also demonstrate proof of compliance.
Commenting on the launch, Mr Sameer Paddalwar, Executive Director & CEO, Boston Financial Advisory Group said,
“On account of rapid changes in the global business environment, technology, and political landscape, the legal framework is changing faster than ever before. Organizations across industries require a quick and automated process for audits, managing numerous regulations or board reporting requirements. Compliance iNBOX is a unique solution in an industry that has seen many disparate products being force-fit together. The product is designed for SaaS delivery with consistent design. CiB ensures performance, security, and longevity with minimal or no IT overhead for customers.”
CiB integrates the expertise of Boston Financial Advisory Group that specializes in Global Accounting and Financial Advisory services backed by the technical advancement offered by Avanze Tech Labs specializing in customized solutions for virtual process.
The online platform covers all major laws and related compliances providing unparalleled ability to quickly configure workflow, setting alerts & notifications while customizing reports with great ease.
Speaking on the launch, Mr Pradeep Kumar V, Founder & CEO, Avanze Group said,
“In the current situation, the demand for automated and technologically advanced processes has increased significantly. We have always designed cost-efficient and flexible tech solutions with quick results for consumers. We believe that CiB will help organizations to integrate compliance as a key component of their culture.”
With a strong team of CPA’s, CA’s, CMA’s, Corporate Counselors, Technology experts having over two decades of experience in their domain, Boston Financial Advisory Group & Avanze Tech Labs have been delivering to clients in India, USA, UK, Singapore, South America, Australia, Middle East, Malaysia.
About Boston Financial Advisory Group
BFAG founded in 2009 and headquartered at Malden, Massachusetts is a one-stop-shop for solutions in the financial domain. Led by seasoned CFOs, with decades of experience in the manufacturing, technology, trading, and services industries, BFAG is the financial outsourcing partner of choice for several companies across the world. The company comprises highly accomplished CAs, CPA’s, corporate counsellors, and legal professionals. They implement efficient technologies in their mainstream processes that create an amalgamation of reliable people and state-of-the-art technology.
In India, BFAG is located at Pune & Bangalore with a team of experts to provide consulting and advisory services. They offer a personalized dashboard to easily obtain all management information at the click of a button to aid quick decision making.
About Avanze Group
Founded in 2015 and headquartered at Wilmington, Delaware, Avanze is a leading global provider of consulting, outsourcing and technology services. The company offers “end-to-end” and customized component solutions for virtually any process with analytics and compliance. Supported by domestic, offshore or hybrid delivery models. The company leverages its domain expertise in managing high growth back-office operations, technology implementations and global clients’ engagements across various business verticals to establish strategic enterprise partnerships and deliver superior business results.
Their products include Title Suite (tSuite), a SAAS based platform, is conceptualized to integrate and automate current Title process workflows under one roof to enhance productivity, reduce cycle time thereby increase profitability. TSuite products include Direct2Abstract, Direct2Title, Prospecc, @Sign.
Avanze Group in India operates from Bangalore in Karnataka and Salem in Tamil Nadu.
Sameer Paddalwar, Executive Director & CEO, Boston Financial Advisory Group while speaking with Indian Law Watch responded to the following questions.
Qs. What is the target audience of the CiB organisation in the legal world?
A. Our target audience includes any person or organisation who wants to streamline and have complete control over the compliances, project management, resource management and data management. In short, this tool is for –
- Chief Financial Officer and CXOs
- Auditors and Corporate Counselors
- Company Secretaries
- Promotors, Partners, Stakeholders
- Project Managers
Qs. How can bookkeeping provided by your organisation benefit law firms in India? What is the data privacy levels if services of your organisation are used and where are the servers of all information located?
A: BFAG calls itself as a one-stop solution in the F & A domain. That means, all your accounting, reporting, payroll, regulatory compliance will be taken care under one umbrella. The biggest benefit is that anybody availing our services will get all the expertise in one place.
We always make a customized standard operating process that means fewer surprises and assured delivery.
All our applications are cloud-based and hosted on AWS, we are ISO 9001 and ISO 27001 certified company and we follow all data security protocols. The servers are located in India and the United States.
Qs. How does your compliance iNBOX can help in the corporate and taxation practices in India?
A. Compliance iNBOX application is easy to use and simple solution for compliance management, task & resource management with safe and secure data storage. It also has a compliance calendar which helps to keep tabs on statutory dues dates with alerts/reminders / via SMS/emails/pop-ups etc, so that you never miss on the compliance part. It also covers a lot many acts that an organisation needs to comply with on a regular basis.
All in all, COMPLIANCE Inbox can definitely lead to considerable savings in terms of compliance costs, increased resource efficiency, process improvement leading to savings in terms of time, energy and money.
Qs. Is the organisation also beneficial to small and medium legal firms?
A. Yes, CiB can be used by both small and medium legal firms also to simplify their compliance management and practice management. Every organisation, whether large or small, aims to increase the efficiency and minimise the cost. And, CiB is a tool that can help in doing both.
Qs. What are the advantages and services offered for start-up registration?
A. Company incorporation is one of the areas wherein we are quite active and startup registration is a part of that. Guiding the budding entrepreneurs in terms of the appropriate entity structure that they need to have, the shareholder’s agreement are some of the key things in any entity registration, unfortunately, very few people advise. But we as an organisation always believe in guiding and educating the people.
Qs. Where are the offices located in India?
A. Our offices are located in Bangalore and Pune in India and Boston in the USA.
Qs. How do feel you can differentiate yourself from already practising law firms in the field of Mergers and acquisitions?
A. In the ideal sense BFAG is not a pure M & A firm, we are really not into deal-making. We are mostly involved in the deal execution part and provide M & A back-office support. We help with valuation, Financial Due Diligence, term sheet finalisation, post-merger integration, doing merger-related compliances.
Qs. How can your tax & regulatory practices help Indians and business operating in India?
A. We have domain experts in the tax and regulatory sphere. As a company we have standardised the process for tax and regulatory practices, this itself is an advantage to the business community and the professionals. Our COMPLIANCE Inbox goes a long way in helping the business community to remain on the right side of the law.
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