Providing you the world class Regulatory Technology solutions
Our readers would like to know about your company’s inception. Which were the reasons you came up with this business model?
The last 3 decades have seen tremendous changes in the way business is done, almost every sector has become more organised and globalised. During the same time, Regulators have also working overtime to frame new laws or amend existing ones; resulting into fastest pace of changes in Regulatory obligations applicable on businesses.
Corporate houses are forced to change the way they have managed their Business and Regulatory risks; creating need to adopt a robust technology led framework that can scale with business and adapt faster to the changing Regulatory landscape.
Dilpreet had curated Regulatory Intelligence for 70+ countries in collaboration with 100+ Law Firms for leading business houses in India and Jyant with his experiences of launching SaaS based Enterprise solutions including Regulatory Compliance Management.
Both decided to come together with a vision to create most reliable Global Regulatory Intelligence; enabled by state of the art technology that smartly presents legal information to all stakeholders, reduce knowledge gaps and increase enterprise level compliance globally.
“While Regulatory landscape is rapidly changing, technology is bringing transparency; we can’t escape noncompliance any longer. Business leaders have to give confidence to their investors, stakeholders that they are following higher standards of Corporate Governance; this needs a consistent approach and standardized frameworks. Businesses must consider adopting robust RegTech offerings early.”
What kind of Services and Solutions do you offer to your clients?
Lawrbit offers Regulatory Technology (Regtech) solutions for Global Enterprises and Consulting firms. Lawrbit Global Compliance Management Solution (GCMS) seamlessly integrates Technology and Global Regulatory Intelligence across 70+ countries and many 1000 laws.
Our solutions are designed to help businesses know applicable laws & compliance, create complex reporting workflows, manage tonnes of documents and provide Real-time reports and dashboards to the management to effectively control risks.
Our best in class solutions coupled with client engagement and customer support processes ensures our client focus on their core business while ensuring their end users have gets required support on time and the learnings on implementing and managing solutions remains in the system.
Will you simplify Regtech for our readers and tell us how you provide these services?
RegTech is term used for technologies designed for monitoring and/or reporting of regulatory compliance. These are designed to enhance transparency, consistency and standardize Governance frameworks, to deliver sound interpretations of ambiguous regulations and thus to provide higher levels of Corporate Governance at lower cost.
Why did you choose to have your Knowledge Centre at Jaipur?
Jaipur has many promising law colleges and are producing 1000s of lawyers every year; if we add 100-200 kms of catchment, the no would shoot up drastically. But due to lack of opportunities in Jaipur, the talented ones move out, accept a compromised position or change their career option altogether.
We believe, if provided with right set of training, career counselling and growth opportunities, they can have perfect work life balance and growth.
Unfortunately, there’s very little awareness of Compliance as career options for law graduates, we try to bridge this gap with extensive handholding and trainings during initial 6 months of Onboarding an employee.
What will you say about your team?
We are young, enthusiastic, and passionate a lot. The success stories of our team can amaze anyone. They have punched far above their weight and delivered what some of the leading brands with loads of resources couldn’t.
We have created an open culture, wherein our team members are being trained and motivated to think out of the box and share their thoughts and ideas openly. Some of our most innovative product features were built based on their feedbacks.
We are working on providing equal opportunity to everyone. While the world is talking of gender parity and creating opportunities for women, they form 60% of our total workforce with an equal representation in our strategic groups. We have found some really talented young women in Jaipur who have the potential to be part of our global teams in the future; we are training and nurturing them to handle large portfolios in years to come.
What will be your further expansion plans in the near future?
Regtech market is estimated to grow from USD 6.3 billion in 2020 to USD 16 billion by 2025, a CAGR of 20.3%. The fast changing business and regulatory environment along with increasing cost of compliance is fuelling up demand in this industry.
With our global offerings, we are poised to play a major role in this industry. Over the next 3 years, we are expected to increase and strengthen our Global legal partner and reselling network. We foresee our physical presence to grow beyond India during this period.
Who are your typical clients?
Every organisation, irrespective of size and scale needs to comply with laws and regulations, this makes every business our targeted clients. But, we have observed that businesses that are either large in size, ones with ambitious growth plans, subsidiary of foreign companies, invested startups usually take compliance seriously and opts for our solutions.
We are serving large clients in Renewable Power, Infrastructure, Hospitality, E-Commerce, IT/ITES, Credit Rating, Manufacturing, Chemical, Logistics and other sectors.
Share one of the cases where the client benefitted from your services
We implemented GCMS for the Maersk GSC is the global-in-house center of a global Transport & Logistics leader. The business unit employs 12,000+ professionals across India, China & Philippines. The regional leadership team was struggling to certify compliance as they had neither knowledge of laws, nor visibility of ownerships and adherence.
Our team along with our legal partners identified 200+ laws and 5000+ compliance obligations applicable across their units in India, China & Philippines; translated laws written in Mandarin and Filipino and mapped a comprehensive framework that gives real time visibility to Regional and Global leaderships along with updates on Regulatory changes in these countries.
“Dilpreet and I are very different personalities; while he is flamboyant and aggressive, I am reserve and methodical. But this creates a unique balance in our approach and decisions, due to which we have been able to achieve so much in such shorter time. When one is trying to hit hard, the other holds the wicket firm.”
- Both founders have been working in the RegTech space since 2012, and Lawrbit was officially founded in 2018
- The Founding Team comprising of Dilpreet Sidhu, Jyant Kohli, Lokender Shekhawat, and Shalini Kohli comes with a total experience of 70+ years.
- With Corporate office in Gurgaon, Global Knowledge Centre at Jaipur, Sales offices in Mumbai & Ahmedabad. Lawrbit has representation in every major city in India and Africa through its Reselling Partners.
- You can visit www.lawrbit.com for more details.
- Global Regulatory Compliance Management Solution
- Litigation and Notice Management Solutions
- Compliance Audit Management Solution
- Enterprise Risk and Control Management Solution