CIMPLYFIVE

Cimplyfive launched BLISS in February 2015 for Beta and after receiving good
feedback launched it commercially in July 2015. Cimplyfive is targeted to
automate the compliance aspects of Corporate Governance of Private Limited
Companies of which there are Nine Lakhs.
The management of Cimplyfive realised during the development and launch of
that the company secretary market was similar to B2B ( more specifically
B2B2B) market. There were a few chartered accountant/company secretary
firms who had disproportionate share of the market with the number of
companies under their guidance upwards of 50 (CIN- company identification
numbers) and even some had upwards of 200 per CA/CS firm. Then there were
another set of CA/CS firms who had an average of 25 companies (CINs) under
their mandate. Each CA charges between 15K and 1L per company per year
based on the workload on conducting and maintaining records, registers and
returns filing . Advisory services sometimes were bundled and then a monthly
retainership was the model.
Hence it was decided that we should focus on CA/CS with the larger than 50
companies under their belt.. This was done through generating their list from the
contacts of the founders and other Company Secretaries. These selected CS
were met at seminars, CA/CS events and their offices to present and
demonstrate the software and convince them to adopt BLISS. Hence this attempt
was centered around Bangalore initially.
100% of the CA/CS we met appreciated the concept , BLISS software and over
90% agreed to trial using the freemium model and few of them purchased
multiple licenses ( upto 5) . This was to acclimitize their inhouse teams to move
from Word/XL to BLISS.

CA/CS Parnters manage the compliance aspects of their companies through a set
of junior CS or trainee CA/CS. There are few deadline months where these CA/CS
work on compliance, filing returns and as all the work gets bunched up there
finding it difficult to use BLISS for the first time closer to the deadlines.
Also some of the trainee CA/CS have to write their exams around May and
November/December they are absent 2 prior to these exam dates and hence
their availability is getting constrained.
Also it was found that Most CA/CS are comfortable in their work using email and
SMS extensively . A group of 2000+ CA/CS are now on Whats App. There are also
in Linked In but it is not used as a great communication tool. The younger
generation and the trainees are also on Facebook as well as use Mobile Apps
well.

The CA (ICAI) and CS ( ICSI) institutes are very active bodies with several talks,
magazines, circulars, mailers etc besides being actively involved in teaching and
training students as the institutes besides organizing seminars on new
developments, policy issues etc.

CA2013 ( www.ca2013.com)

Companies Act 2013 is an evolving legislation with over 470 sections and several
notifications, rules, clarifications over the last 2 years. Company secretaries are
expected to be on the top of the same and ensure compliance and providing
advice to clients on the same.
The current mechanism are large voluminous books which are updated once in 3
months and addendums issued or pdf files which run in 1600+ pages which need
to be searched.
Cimplyfive has developed a simple portal which provides all these information in
a searchable fashion( key word search) and that too with all the relevant
notifications , rules, circulars etc.
This is intended to be provided free to cost to all CA/CS and others who wish to
view this including promoter /investor directors.
The only link is that at the bottom of the site it is mentioned developed and
maintained by Cimplyfive and BLISS with hyperlinks to the Cimplyfive website.