Technology : Challenges & Opportunities for Company Secretaries August 21, 2014
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Transcript of Technology : Challenges & Opportunities for Company Secretaries August 21, 2014
You can't expect to meet the
CHALLENGES of today with
YESTERDAY'S TOOLS and expect to be
in BUSINESS TOMORROW.
Inte
rnal
Cha
lleng
es
More Focus on legal
recognitionLimited
Professional Development
Lack of Entrepreneurial
SkillsLack of Self Confidence
No Mega firm of CS
Gov
ernm
ent I
nitia
tives
Government Initiatives
Fully integrated National E – Governance
system by 2019
Aadhaar and National Citizen ID
by 2017
E - Stamping
DIPP e-Biz by 31st December 2014
Extensive use of Cloud ERP software
by 2017
Broadband highway
andDigital India
Tech
nolo
gica
l mov
e in
Com
pani
es A
ct, 2
013
E VotingVideo Conferencing
E RegistryLegal Compliant Website
E Recording
Tech
nolo
gica
l mov
e in
Com
pani
es A
ct, 2
013
Terms used in Companies Act, 2013 Count
Electronic Form (e-form) 84
Electronic Mail 76
Information to be put on website(s) 51
Electronic Mode 40
Electronic Means 26
Video Conferencing 21
Audio Visual Means 20
Electronic Record 19
Electronic Registry 12
Voting by electronic means and electronic voting system 9
Com
petiti
ve
Chal
leng
es
Global Competition
CS, CA & CMA competing for
same compliance
services
Private institutions
getting recognition -
CFA
Private University becoming deemed
university
Glo
baliz
ation
Free and fair trade
and vanishing
Economics
Boundaries
UN, WTO, WB, IMF,
OECD, ADB and ICC
are standardizing
rules for
international trade
Single law for trade
and commerce
Tech
nolo
gica
l Ad
vanc
emen
t
E Commerce wiping out middleman
Made the things more convenient for professionals
Capital & Technology replacing Labor
Consolidation of Market Players
Tech
nolo
gica
l Adv
ance
men
t
Apps
Many More……
Notability
Business Card Manager Lite
Photomania
Bookmyshow Google map
Bhagavad Geeta
How
lear
ning
pro
cess
is e
volv
ing
– N
ew C
ompa
nies
Act
, 201
3
New Law
Act / Rules / Forms / Circulars / Notifications
Query
E – Books / Groups / Updates
Procedure
Software
FuturePresent
Strategyand
Planning
Growth of 613% in Turnover of BSE and NSE observed in last 15 years
1998 2013 -
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
457,092
3,257,053
Turnover (INR Crores)
Out of Total 14 Lacs Companies incorporated in India, near to 6 Lacs Companies
incorporated in last 8 years
over 100 Years and 8 Years
Time Period No. of Companies Incorporated in India
Over 100 Years till 2006 795527
Last 8 Years 574546
Chan
ge o
f wor
k Sc
enar
io B
y us
ing
Tech
nolo
gy
Procedure
Works
Strategy
Problem Solving
Corporate
Planning
Quality of
Service
CorporateLaws
EconomicLaws
TaxationLaws
WTO & IPR
InternationalTrade Law
ManagementConsulting
Finance and Accounting
Commerce
BrandSynergy
InfrastructureSynergy
CapitalSynergy
Collaborative Commerce
SingleWindowInterface
KnowledgeSynergy
GlobalPresence
Growing Revenues
Growing Customers
Growing Nations
CS + CA + CWA + MBA + LLB
So share business opportunities through tie-ups and synergize through C - COMMERCE
Succ
ess
Man
tra
Whether Professionals can grasp
such changes??
“THE SURVIVAL MANTRA”
Learn, Unlearn &
Relearn