Technology: Challenges & Opportunities

for

Company SecretariesAugust 21, 2014

You can't expect to meet the

CHALLENGES of today with

YESTERDAY'S TOOLS and expect to be

in BUSINESS TOMORROW.

Dev

elop

men

t in

past

2 d

ecad

es Mobile Telephony & Internet

Online Banking

E – Commerce

Dev

elop

men

t in

past

2 d

ecad

es National E – Governance Plan

MCA21

Internal Challenges

Inte

rnal

Cha

lleng

es

More Focus on legal

recognitionLimited

Professional Development

Lack of Entrepreneurial

SkillsLack of Self Confidence

No Mega firm of CS

Pres

ent w

ay o

f w

orki

ng Strategy

Problem Solving

Corporate

Planning

Procedure

Works

Regulatory shift towards technology

Regu

lato

ry s

hift

tow

ards

tech

nolo

gy

Towards Simplicity

Self Governance

E - Governance

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

Companies Act, 2013 focus towards Information

Technology

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

Competitive Challenges

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

What brings this Shift

Globalization

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

Technological Advancement

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

Social Media

Tech

nolo

gica

l Adv

ance

men

t

Software / Information web portal

Many More……

Tech

nolo

gica

l Adv

ance

men

t

Apps

Many More……

Notability

Business Card Manager Lite

Photomania

Bookmyshow Google map

Bhagavad Geeta

Priv

ate

Initi

ative

s

Use

of T

echn

olog

y to

equ

ip y

ours

elf

How learning process is evolving –

Companies Act, 2013

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

Will Technology take away our

work?

TECHNOLOGY TRANSFORMATION will

not be WORK DESTROYER rather will be

a WORK CREATOR

TRANSFORMATION is a part of life and has

brought fabulous growth in the past…..

Transformation fromStock Market – Out-Cry-System

Transformation from

Physical Share Certificates to Demated shares

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)

MCA21 : Paper based operations to

paper less environment

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

…..

INR 2000 Cr

INR 42,000 Cr

E –

Com

mer

ce M

arke

t Pla

ce in

Indi

a

USD 20 Billion

E –

Com

mer

ce M

arke

t Pla

ce in

Indi

a

MCA21 : 2nd Phase

Nothing is permanent in TECHNOLOGY except CHANGE………

Use Technology to Beat

Technology

Knowledge Enhancement

Showcasing your experience

Business Development

E - Networking

Business Management

Virtual Database Management

Chan

ge o

f wor

k Sc

enar

io B

y us

ing

Tech

nolo

gy

Procedure

Works

Strategy

Problem Solving

Corporate

Planning

Strategy to beat

challenges

Wha

t you

sho

uld

do

Focus on areas where

Computers can’t enter

Wha

t you

sho

uld

do

Venturing unexplored areas

Wha

t you

sho

uld

do

Diversification into new

segments

Wha

t you

sho

uld

do

Change in mindset

Wha

t you

sho

uld

do

You can't do everything alone?

But

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

Knowledge

+

=

C–Commerce

IT

Success

+

Succ

ess

Man

tra

Whether Professionals can grasp

such changes??

“THE SURVIVAL MANTRA”

Learn, Unlearn &

Relearn

“The combination of HARD WORK and SMART WORK is

EFFICIENT WORK”

Succ

ess

Man

tra

“Things will never be the same…..

So change the future before future changes you”

Pavan Kumar Vijay

Past President, ICSI

Managing Director, Corporate Professionals Capital Pvt. Ltd.