DECLARATION

This is to certify that Summer Training Report entitled “PRODUCT

DEVELOPMENT” which is submitted by me in partial fulfillment of the

requirement for the award of degree PGDM at Indore Indira Business

School, Indore, comprises only my original work and due

acknowledgement has been made in the text to all other material used.

MRADULA SUKHYANI

PGDM Semester -III

July 31, 2015

Signature

BONAFIDE CERTIFICATE FROM COMPANY

This is to certify that this project report “……….TITLE OF THE

PROJECT……………..” is the bonafide work of “ Mrs.Mradula Sukhyani” who

carried out the project work under my supervision from 01st July,2015 To 31st July

2015.

(Signature of HOD) NAME OF HEAD OF THE DEPARTMENT

(Signature of Training Head) NAME OF THE TRAINING HEAD

<<Department>> << Designation>>

<<Full address of the Company >>

Company Seal

BONAFIDE CERTIFICATE FROM INSTITUTE

This is to certify that this project report “PRODUCT DEVELOPMENT” is the

bonafide work of “Mrs. Mradula Sukhyani” who carried out the project work under

my supervision from 01st July, 2015 to 31st July 2015.

<<Signature of the head of the director>>

NAME OF THE DIRECTOR OF INSTITUTE

<<Signature of the faculty supervisor>>

NAME OF THE FACULTY SUPERVISOR <<Academic Designation>>

<<Department>> <<Full address of the Institute >>

Institute Seal

ABSTRACT OF THE PROJECT The Project which taken into under consideration is to test a Product (software)

named as “AVACOM” which is a Compliance solution based software designed for medium & large organization. The software is at introduction stage as per

product life cycle & it helps them in dealing with legal & statutory rules (Compliances) designed by the Government for industries and organizations.

Every organization has to follows certain rules which are framed by the government to conduct a clear & transparent organizational practice. The compliances Software (AVACOM) is classified into two Levels i.e. at central level

& at state level and it have four categories i.e. Human resource, Legal, Secretarial, and Finance. AVACOM helps companies comply with the above requirements.

Under these four category & two levels the Software works as a compliance

solution provider to the organizations. Government frames the Compliances at central & state level for the four major departments like for Human Resource a

compliance example is Payment of monthly wages of contract employee before the 10 of each and every month. So Avacom has a reminder feature which gives the

notification to the user before the 10th of each month to avoid the wrong practices and also providing the clear & transparent flow of the work , and also under the

given government rules and regulations. The software has a great feature of assigning users (for different entity and

multiple locations) that performs the compliances. Then the whole flow of compliance comes to the next user who also got the assignment under the name of

reviewer, reviewer mainly looks towards the work of performer and gives his review towards that compliance that a performer has conducted. Then the whole

flow of compliance comes at a last stage that is at the approver’s level where the approver looks towards the work of performer and reviewer and he/she approves

the compliances. The whole cycle of compliance get completed.

The Software has very much need in the market because it works as a shield to protect an organization’s reputation and owner’s goodwill in the market because

many of them are associated with risk like imprisonment & penalty for the owner.

COMPANY OVERVIEW

Avantis Technologies, founded by senior Risk, Finance and IT professionals, is a start-up with a specific focus on automating the risk management / compliance

management process for mid-sized and large Companies. Avantis Team has tremendous experience in developing risk profiles and conducting risk assessment

workshops for varied industries. Seeing the potential and the probable requirement post amendments to the Companies Act, Avantis was incorporated with a sole aim

to develop such world-class products which can support organizations in establishing / streamlining the "Enterprise Risk Management" Processes.

The Company was incorporated in October 2013 and in last one year; the

management team has been brain-storming and working hard on rolling out a Compliance Management System, a sub-set of the "Enterprise Risk Management".

The company has on-boarded an experienced Team for software development and testing and also an experienced lawyer for support on the India-wide legal

compliances. The Phase I project was developed in July 2014 and has been implemented in several medium size industries as pilot implementations since then. The product is up and running for last 3 months and have received a positive

feedback from all the companies. Now, the management has initiated conceptualizing the Phase II of the project i.e. Risk Management Tool, which they

had plan to roll out as an addition to the existing product itself in next 10 months.

Formed: Oct 2013 Employees: 1-5

Funding: Self/Friends/Family Website: https://www.avantis.co.in

Number of Customers: Currently, They have implemented the Application as pilot project in 2 manufacturing concerns of a large corporate.

MANAGEMENT

Mr. Sandeep Agrawal is a member of The Institute of Chartered Accountant of India and Information System Audit and Control Association (ISACA, USA). He

has over 12 years of experience in Risk Management, Sarbanes Oxley and Clause 49 Compliance Support and Reviews for several domestic and multinational

companies encompassing Metal & Mining, Automotive Ancillary, Engineering, Media & Entertainment, IT & ITES, and Real Estate Sector. Sandeep has worked

with PricewaterhouseCoopers (PwC) for around 8 Years in its Risk Management and Internal Audit Practice (including One year experience with PwC USA).

HEIRARCHY

Software developer Sales & Marketing Admin Manager HR manager Executives

Server Head Market Researchers Finance Executive

Software Testers/ Interns

Interns

Top Management

IT Head Sales & Marketing

Head

Administra

tion Head

Human Resource

Manger

PRODUCT OVERVIEW

The Product name is "AVACOM". It is a Web-based application which can be used anywhere using Internet and Unique Id. AVACOM is a “Compliance

Management Solution” for large and medium sized organizations. It supports the companies in the following manner: 1. Create a formal Process for overall

Compliance Management. 2. Create “Accountability” among the team members 3. “Timeliness” is the key to the overall process 4. Create a “Support Mechanism” for

the people responsible 5. Provides a comprehensive Management Reporting for Senior Management

UNIQUE FEATURE OF AVACOM:-

Important Features of the software are listed below:

1. Scalable Organization Structure can be created (new entity can be added at any level).

2. Multiple Roles can be defined with a unique user Id and Passwords for each

user.

3. Comprehensive Framework supporting creation / updating the regulations / compliances. Other activities like group policies / procedures can be updated &

tracked through the software.

4. Ability to assign multiple roles / multiple locations / multiple compliances to a single User.

5. Automatic Email Reminders, Escalations and Notifications.

6. Mandatory review of completed compliances by the Reporting authority.

7. Mandatory upload of the compliance documents thereby creating a Centralized database for compliance documents / records.

8. Comprehensive Dashboards for each User and Senior Management reflecting a comprehensive compliance position for the company as a whole.

9. Feature assigning performance parameters for an entity wherein system automatically rates an entity / location into “High/Medium/Low”. Similar

Application is provided by select large multinational Auditing / Law Firms. Apart from being Cost effective, we are developing a comprehensive end-to-end Risk Management Tool, which would be mapped to AVACOM, a feature which is not

provided by any of the existing Software Providers.

OTHER FEATURES-

The Product provides following services:

Compliance Repository :

The product provides a repository of Laws applicable to the various functions of a company across locations in India. The repository includes the

regulations pertaining to Central and State legislations.

The product also provides select legislative forms for reference.

Customer’s Organization Structure :

Product has the capabilities to replicate complete Compliance Organogram

(i.e. organizational hierarchy from a compliance perspective). The product has been designed to accommodate significant changes to the client’s

organizational structure (especially for clients growing inorganically).

User Profiles and Assignments :

This is a unique feature where the organization can create multiple user profiles and also assign multiple profiles to a single user. The Product is

highly flexible wherein multiple permutations and combinations are permissible with respect to assignment of compliances and locations.

Compliance Workflows :

Workflows are assigned for each compliance item and product facilitates

workflow based escalations and compliance approval mechanism.

Automated Notifications :

Automated Email Notifications for compliance activities whereby Organization can create a support mechanism for the Users for timely

compliance.

Product also provides an auto-trigger mechanism to reporting managers for the non-compliance or delayed compliance.

Management Reporting :

Product offers a comprehensive Dashboard for each user profile with features of risk-wise and location-wise. These Dashboards are dynamically

updated and provides a comprehensive overview of the compliance status for the entire Group as well.

One of the important reporting tools offered by the product is the

Performance Rating of each unit/location based on the actual compliance status. This report highlights the performing / non-performing entities which

can be further drilled down to the performing / non-performing.

Audit Tool and Audit Trails :

Online auditing of the compliance recorded has been provided in the product. The product has been designed in a manner where the compliance

workflows do not end until the compliance and related documents have been reviewed by the reporting managers.

Product also tracks the details of the workflow at each step and required

Audit Trails to track compliance at every step is available through the Product.

Administrative Module :

Organization can assign Administrative rights to one its IT team member to manage user groups and compliances.

HOW AVACOM WORKS

COMPETITORS LIST

S. No.

Company

Name

Product Name

(Software’s

Name)

Locations

1

Chess Consulting

ELCM

Gurgaon,

Haryana

2

Legasis

Legatrix

Mumbai, West Bengal & Delhi

3

Clutch Group

Capture IQ

Bangalore

4

Laser

LLCS

Mumbai

5

Compliance Info Tech

Comply 49 , Comply 18

Gurgaon, Haryana

6

Lexplosion

Komrisk

Kolkata, Mumbai,

Delhi

DESCRIPTION OF WORK ASSIGNED DURING TRAINING:-

The main task during the training is to understand the product which is software

named as “AVACOM”. The product has a systematic work flow & process which is inbuilt for comply various compliances. During using the software the first step

is to do testing of the whole software to find out the Bugs (Error in the functioning while using the software). Generating & maintaining an Excel file which contains the test cases which are

written during testing of the software.

Major Task during Training:-

1. Checking the functionality of product by login into company’s website by putting the assigned User ID & Password.

2. Conduct various types of testing like Smoke, User, Functional, Compatibility, and Security Testing.

3. Perform the task of various users and complete the cycle of compliance. 4. Looking on each and every option available in the software & checking the

performance & accuracy of software. 5. The Software has 2 roles that are Authentication role & System Role. 6. The authentication role Consist Super Admin, Company Admin, Non-

Company Admin, Management. 7. While System Roles Consist of Performer, Reviewer & Approver.

8. Then checking the user’s functionality by using various users at different-different level software.

9. Checking the accuracy in generating the reports related to the compliances. 10. Multi location facilities are working properly or not (related to Assignment

of location). 11. Checking the functionality of all types of reminders, Notification and

escalation which automatically gets generated by the software and delivered to various users via email.

12. Checking the features like Edit, Delete, Add which are mentioned into the software are performing well or not.

13. Giving ideas related to the software’s betterment, like –adding

new features which are not available in the competitor’s product. 14. Cross checking all the compliance features that are saved on Master data are

working properly as per the compliance workflow or not.

How does software works –

Pre saved list of compliances shows into the Company admin profile then he/she assign the Compliance to the performer user to perform it on or before a due date.

Then After the completion of task by performer the compliance moved to reviewer user and the reviewer review it by writing a comment as done before time or

delayed. At last the compliance moves to the approver user to get a final approval of

compliance that means the last process of compliance of completing it. Names of users in the software-

1. Super admin- Accountable for the whole software and master data. 2. Company admin-Accountable for the assigning user and allotting the

compliances to the users at different level.

3. Performer-First level user of compliances, Compliance assigned by the company admin to him and he/she performs it.

4. Reviewer-Second level user of compliance, he/she review the work of performer and gives the comment of performers work.

5. Approver-Third level of user who see all the compliances which are assigned and done, not done on time, Overdue and many more.

6. Management-It doesn’t have any authority to work for compliance but they can view the work of all users.

7. Non company Admin-Mainly the performer, Reviewer & Approver comes under this named as non company admin.

SWOT ANALYSIS FOR THE PRODUCT

Strength Weakness Threat Opportunity

New & advanced features

Accessibility is

web based (Online &

Cloud Based).

Multi functional

(Assignment of multi user & Multi

Location)

Graphics are not well in software.

Functionality of

software gets interrupted while

using it.

Change in technology may

hamper it.

Competitors may

launch more advanced feature

product.

Product is at introduction stage

so it incurred high investment which

can be a threat if the company won’t

able to fund it long.

Change in technology may

leads to opportunity.

New startup may

get any alliance & support from the

government.

The product serving the under

market so the chances are very

high for growth & Expansion.

PRODUCT ANALYSIS WITH COMPETITORS

Avantis Tech Chess Consulting Clutch GroupsAudit Tool Plan and Schedule Compliances Task Reminders

Audit Trails Assign Responsibility Dashboard

Workflow Multi Locational Reporting

Reporting Message Board Risk management

Assignments Email Logs Capture Audio

Compliances Repository Discussion Tab 100% Web Based

Auto Alert Reporting

Status Update 100% Web Based

Risk management

Leaser GRC Legasis Soluation Compliance infotechDashboard Multi Locational Compliance mapper

Compliance universe Risk management Event Checklist

Event Checklist Audit Tool Reminders

Time based compliance Dashboard Audit Trails

Reporting Event Checklist Status Update

Knowledge base Authorized Access Reporting

Compliance Certificate Auto Alert E-filing

Work Flow Tracking Risk management

Reminders

LEARNING’S DURING TRAINING -

1. Learned the process of maintaining software and process to test it.

2. Understand the importance of Competitors analysis.

3. Learn to create and implement new features after analyzing

competitor’s product.

4. Learned the process of sales.

5. Understand the model of Industrial buying behavior.

6. Learn the flow of software.

7. Understand the emerging future of IT sector.

8. Understand working and market at B2B. 9. Product developed.

10. Competitors analysis. 11. Case testing ( smoke, function, user interface, black board testing, etc.) 12. Technical aspect of product.

13. Legal risk management in crop. World. 14. Compliance hierarchy in companies.