Taking the latest updates to the Indian CSR laws into account, Goodera today announced new offerings for its CSR solutions that will help companies seamlessly adapt to the changes in the CSR policy without hassle.
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CSR Amendment 2021: Goodera Aims to Make it Easier for Companies
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The company has launched the Goodera Compliance Module, Goodera Impact Assessment Module, and Goodera Partner Support Module. These offerings combine technology with rich domain expertise and a plethora of services that will help companies align and upgrade their CSR policy, programs, and processes to be compliant with the new amendments.
The new amendments to Section 135 of the Companies Act 2013 have been approved as of January 22, 2021. The amendments have added stringent responsibilities on corporates to ensure that they plan, implement, and assess their CSR programs with more rigor. The amendments have affected all aspects of the CSR lifecycle from design, implementation & monitoring to reporting of the CSR activities undertaken.
“With the new regulations in CSR laws in India, I foresee great potential for technology and Goodera to drive social development and impact in the country,” says Abhishek Humbad, CEO and Founder at Goodera. “Focus on mandatory fund allocation for companies will drastically improve project results, positively impact compliance, and help companies become more socially driven. At Goodera, we welcome these changes. Our solution will help companies not only be compliant but also help them measure and report impact at scale.“
The Goodera Compliance Module: Goodera’s team will assist corporates in the creation of an annual action plan with a separate budget and finance module for planning annual allocations, disbursements, invoicing, unspent amounts, and surplus budgets. It also helps capture direct, indirect costs and CAPEX, OPEX for each project, and aggregates data for reporting convenience. The solution also helps expedite CFO approvals through its uniquely designed workflows.
The Goodera Impact Assessment module for corporates: Goodera has appended its technology stack to sell technology-enabled Im