Clonect Solutions Pvt Ltd, an IT solutions company focused on products in the area of enterprise governance, risk management and compliance management (GRC) & software services, has raised Rs 1.5 crore ($246,517) in funding. The investment was done by former Infosys chief financial officers (CFOs) and board members V Balakrishnan and TV Mohandas Pai, along with a few unnamed investors, according to a report by The Times of India.
Managing compliance can seem like managing a menagerie of exotic animals. To the casual observer, each appears to have specialist requirements, but there will be commonalities that enable the zoo to operate efficiently, from feeding routines, to exercise, health checks, safety procedures etc. Similarly, disparate compliance regulations and legislation that may appear completely unrelated, requiring separate management and dedicated resources, can often have elements in common. Identifying these common traits and using them to collectively manage compliance can release resources, decrease spend, reduce complexity and ultimately provide insights that improve the business.