Laser Legal Compliance System

Flexibility to customize and quick deployment.

I am satisficed with the end product.

Best Audit & Work Paper Management Tool in the Market.

First of all customer support was excellent during implementation and even currently. It has features and options available which can most suited for any large scale organisation. Very user friendly as staff of each managerial level understood it rightly and working on it. Customization of different options was made easy and executed effectively. A great product to be used.

Cons - nothing as such. Its being used by auditee, auditors and management with no difficulty.

"The decision taken for implementing Laser Audit Reporting System for conducting Internal Audits in our company has proved to be very wise and thoughtful. Laser Audit Reporting System has standardized and automated my internal audit process. Entire activity of internal audit is now centralized and I can review and monitor the entire pan India audit from one place.  Now my users can view real time status of the progress of internal audit. Data request tracking now become automated. Email alert keeps everybody connected with the audit updated.

 Automatic reminders, escalations and tracking of audit progress make the application a truly robust tool for internal auditing. It has seamlessly brought all the stakeholders of internal audit in place. Everyone involved in audit - auditor, auditee and higher management can collaborate on a single platform with LARS. Audit plan, field work, findings, observations, action plan and everything in between can be accessed at one single point. It has dramatically saved our time spent on chasing auditee for data, sending reminders and preparing audit reports.

 I will highly recommend LARS a product of Etrends which is truly at par with any International product for Internal Audit Reporting System.

As per my views, LARS is highly efficient and cost effective internal audit management software."

It is user friendly, this can be easily be share with multiple cross function like quality, vigilance etc. for multi use and centralized documentation. It is value for money

Cons -Not really at this stage. Overall display to reviewer (work paper and finding) can be improved

Value for money, easy to implement, trained and get started.

"The team is very approachable and they understand the user needs very well. Excellent support system. And the team is very approachable. We never had any downtime of the software. Multiple users can use this without any difficulty."

     

                    

           

                    

“LARS – Laser Audit Reporting System is a robust internal audit tool which has successfully IT enabled our end to end audit processes benefiting the auditors and auditee. As against traditional method of manually maintaining the audit plans, field work, findings, observations and action plan, LARS has helped us maintain the same in an intelligent and centralized manner so that users can view real time status of the progress of observation and action plan. Email alert keeps everybody connected with the audit being undertaken. Automatic reminders, escalations and tracking of progress adds versatility to the system and eradicates a lot of wasteful time & resources which would have been required in non-value added work.

LARS has helped improve audit department productivity by reducing cycle time and thus enabling focus on what matters most. Importantly, if used well it also doubles up as an effective Knowledge Management platform for the internal audit department, especially beneficial when used in multi SBU or multi business environment.

This is now the second company in which I have been instrumental in implementing LARS & I would recommend it as a efficient, adaptable and user friendly platform for managing internal audits. "

“I have selected Laser Audit Reporting System (LARS) for automation and documentation of Internal Audit processes. I find it simple to use for Audit team members and easy to update the data, programs and generate reports. This also enables MIS reports for tracking resource utilization and monitor progress of the audit assignment. This system has resulted in greater efficiency and effectiveness.

This product could offer greater functionality if it is enhanced with risk identification and mapping enablers for various processes across organization.

In my personal view, the product offers value for money proposition and strong post sales support.
Best wishes.”

"Initial concern was mainly with respect to time of launch of LARS, however the degree of customization planned and carried out reassured us about the effectiveness of LARS. Further, difficulties constantly faced were ironed out by the E Trends team promptly and efficiently. The audit team, management and auditees have expressed their satisfaction in working with LARS
LARS has been useful in the following ways:

• Audit planning, documentation of field work and observations, report structure have been standardized
• Processes like follow up with auditees for responses and status of action taken which were previously manual, have been automated
• Linking the auditees to the audit process in LARS has made a LARS a complete software
• Has helped auditees / process owners own up responsibilities for the action taken planned and implemented by them based on the audit observations
• Linking of auditee database to LARS was the most significant, as it helped the auditees to record their responses and attach documents and provide status on implementation of recommendations

The support service provided after launch was good which helped us to stabilize the process. Additional features added later based on our suggestions also contributed in making the internal audit process robust. The support portal of LARS is also a good tool which gives a status of open and closed issues. Further add-ons like self assessment checklists, exception reports etc. which are being discussed would make LARS an effective management tool.
I would definitely recommend LARS because the Service rendered was professional with clear understanding of concepts and customization to our requirements.

The E Trends team was very co-operative and problems pointed out were resolved promptly.
Also the features of LARS (which were more or less to our expectations) and the pricing which was reasonable."

“With help of LLCS from Etrends, we are now able to meet compliances much more effectively. It has saved 55-60% of the top and middle management time. It has made our compliance management process extremely simple and efficient. The implementation of the tool was done smoothly by Manesh and his team.

LLCS is very simple and robust tool which I would highly recommend.”

“Air Niugini was hunting for a comprehensive Internal Audit Software since last couple of years and the search came to and end when one of my friend who was actual user of LARS system recommended me for the same. Today I see that our decision of engaging “Etrends Technologies (INDIA)” in implementing Laser Audit Reporting System for conducting Internal Audits in our company has proved to be wise.

Now we cannot imagine ourselves working without it. It has brought a process in place for each and every activity of internal audits. It has resulted in efficient audit, real time visibility in the progress of remediation plans to fill gaps in the controls and automated reminder, escalation and tracking of action plan. It brings everyone involved in the audit on a common platform. Audit plans, field work and observations are created easily and efficiently. Dashboard saves time by pulling just the right information and showing it to us.

It has dramatically saved our time spent on preparing audit reports. It has reduced our work volumes by a significance degree, especially in data acquisition and summary reporting. We look forward to extensive use of LARS in the coming years ahead.

The support provided by Etrends Team from INDIA was excellent, which helped us stabilize the process in our organization very fast.

I will highly recommend LARS a product of Etrends which is truly at par with any International product for Internal Audit Reporting System.”

“Laser Audit Reporting System (LARS), a product of Etrends has reduced our work volumes significantly in areas pertaining to data acquisition and summary reporting.

I still remember how the team was impacted by the overtimes and work pressure that was visible on the faces of my team as we drew closer to quarterly audit committee meetings. We have worked together in making the product to suit exactly to our requirement.

Now, LARS has dramatically reduced the manual work associated with Audit plans, data collection at the field, documenting observations and creating various Reports. The implementation has certainly made our team’s job simpler.”

“Shoppers Stop Ltd (SSL) group of companies, is in the department stores business, having retail stores presence pan India in different formats including Fashion, Food & Books. Our Internal Audit team usually faced challenges in collating information culled out of Internal Audit reports received in large numbers from across the chain, for presenting to the stakeholders; till the time we installed LASER Internal Audit reporting systems (LARS) two years ago.

LARS today provides us features to help analyze & pinpoint common process glitches across the chain as observed by our IA teams across the country. It also gave us the ability to remotely monitor Internal Audit project progress and closure. Moreover its provides an interface online with the Auditee, to seek their replies for all exceptions raised by the Internal Auditor’s.

LARS support team deserves kudos for providing us with exceptional support for this software; their proactive approach to hunt for improvements in the existing modules for new upgrades in the existing software is a great value add.

We also had the privilege to work with the LASER’s development team to develop the IFCS module for the Internal Audit profession in line with the requirements of the Companies Act 2013,named Laser Internal Control Manager’(LICM); this module has helped us in uploading our SSL Group’s Internal Controls documented and seek control self-assessment (CSA) from Business Process Owners for the same, backed by requisite evidence as well; This IFCS module also has features that allows benchmarking of Internal Control Framework to COSO 2013 framework as well. I highly recommend it as one of the most efficient and user friendly tool for managing & testing the IFCS controls as well as for all the Internal Audit projects of any organization."

“This is to place on record that the Compliance Management Software we have taken from your company is working well and we are very satisfied with the product. This is a very useful tool to keep track of all the compliance requirements that the modern day legal system demands. I’m sure as one of the pioneers in the field, you will improvise and add features to the product that will cater to a larger audience.

I would like to thank you for all the support and help extended by you and your team during the initial phases and subsequent implementation stage.

One aspect that I would specially like to mention is your personal involvement along with Mr. Prateek during the implementation stage but for which the CMS would not have gone live.

You have a long way to go and I wish your company all the success in your future endeavors."

“M/s Etrends Technologies Pvt. Ltd. (Etrends) has been associated with Capital First Limited (CFL) in the Project for implementing the Laser Audit Reporting System (LARS) within the Internal Audit function of the Company.

Etrends adopts a professional approach and displays good understanding of customers’ requirements. We are pleased with the hard work and determination of their entire team throughout the project and are satisfied with the overall quality of LARS implementation.

We look forward to extensive use of LARS for all internal audit assignments and achieve significant efficiency… It is the start of an exciting new era for the internal audit team at CFL and we expect the same support and co-operation from the Etrends’ team in the future.”

“The Etrends Laser Enterprise Risk Management System Launched in our organization has been appreciated by the stakeholders as it is customized based on the requirement of the organization.

The Etrends team has co-operated well in ensuring that the customization of the software is to the requirement of our organization. The software facilities in many automated activities such as, survey facility, customized dashboard, auto e-mailers/reminders, tailor-made reports, etc., which otherwise would have been manually difficult and time consuming.

The entire project for implementation of the Risk Management System was the joint endeavor between our organization and the Etrends team, and they have demonstrated the quality of collaboration and full support to make it happen.

Certainly this software is useful to ensure robust tracking and managing Risk & Mitigation plans in any organization.

We expect the same support and co-operation from Etrends team in future.”

“I am happy to inform you that our decision of implementing Laser Audit Reporting System for conducting Internal Audits in our company has proved to be wise. It has resulted in efficient audit, real time visibility in the progress of remediation plans to fill gaps in the controls and tracking of action plan.

With the implementation of internal audit software we have transformed our manual process of internal audit to automated process. The Lars Internal Audit system has given us a new look to our traditional audit report format. The features of classification of audit observation in accordance with risk along with financial impact if any bring the attention of management easily while reviewing the audit response. The Dashboard saves our time by pulling just the right information and showing it to us.

The overall management of Lars system is good and project owner assigned by the Etrends was very supportive during the implementation phase. I highly recommend it as the most efficient and user friendly tool for managing the Internal Audits in the organization.”

I take this opportunity to put on record the excellent service provided by Compliance Management  Software, implemented by your company Etrends at our end. With provision of automatic update facility, it has given complete comfort to all of us, by ensuring complete track of all statutory compliance requirements.

I must say that it is an excellent product an provide much needed assurance to senior management.

Wish you all the best and continued success in future projects.

Atul Ltd is a chemical conglomerate and one of the companies of Lalbhai Group, serving customers in National and International markets. Atul Ltd operates through six business divisions, namely Agrochemicals, Aromatics, Bulk Chemicals & Intermediates, Colors, Pharmaceuticals & Intermediates and Polymers.Atul also has offices in The USA, The UK, Germany, China and Vietnam that service its international customers.
 
Risk Management is an integral part of the business practices of the Company. The Company has developed and implemented a comprehensive Risk Management System involving i) Risk identification and definition, ii) Risk classification, iii) Risk assessment and prioritization, iv) Risk mitigation and v) Risk reporting and monitoring.
 
We have now implemented Laser Enterprise Risk Management System (LERMS) for Enterprise Risk Management (ERM) at Atul.The software automates all five activities mentioned above. Features such as surveys, Dash-boards, auto e-mailers and reminders bring ease, efficiency and effectiveness in the system compared to manual system.LERMS has enabled us to bring in uniformity in ERM records maintenance across various businesses and automate the earlier time consuming manual process.
 
Software was well accepted and appreciated by all the users and Management. The need for customization was minimal. E-trends team ensured that the implementation of the software is seamless to the requirement of our organization. We feel LERMS to be useful to the companies to comply with Risk Management requirements by ensuring robust tracking, managing risks and mitigation plans.
 
Overall our experience about the system, implementation and training support was highly satisfactory.

After implementing the LARS software I feel in full control of the Audit function. Time saving, speed and operational efficiency in the entire group is what we have achieved.
I like the following benefits the most:
1) Saving in time and effort: Earlier we were spending lot of time in compiling observations in Excel for following-up implementation. Now it is readily available in LARS.

2) Because of LARS now there is a lot more auditees have been involved, resulting into speedier action plan updating and finally resulting into increase in operational efficiency by implementing audit recommendations.

3) Auto follow-up of implementation of audit observations feature of LARS is very good.

4) Excellent support from LARS team.
 
 
The way we follow-up the implementation of audit observations is different than what has been generally followed in Indian companies, because of this there is lot of customization is required. However, due to very good support customization is happening as we want. Except some teething problems and some more customization is yet to be done, we are satisfied with the product.

LARS is one of the best audit management tool

The tool is user friendly and the master setup feature is quite easy. The team at backend is technically competent and hence customizations are easy and can be timely implemented. Tool has an excellent workflow audit management system and allows data / information repository with a vide range of data type, including emails. The tool enables audit workflow to be managed either in online or offline mode which can be helpful sometimes. Licensing is based on count of auditors rather than on count of users / auditee and hence it becomes competitively priced wherein manpower count is quite large. Bulk data import is feature is available. Most of the output is available for export in excel format from the tool. Alerts and notifications are inbuilt and can be enabled / disabled as per requirement.