Latest news with #Regtech
Hindustan Times
4 days ago
- Business
- Hindustan Times
IRIS Q1 topline grows 10%, investments ramp up in Regtech business
Navi Mumbai, India – August 14, 2025: IRIS Business Services Limited posted a 10% growth in topline for the first quarter of FY 2026 even as the company geared up to scale its SaaS business in the enterprise technology space. 'Post the divestment of the Taxtech business and with the availability of non-dilutive capital, we are fully focused on taking the necessary steps to grow our Suptech and Regtech business lines, both of which have large and attractive opportunities globally,' said K. Balachandran, CEO of IRIS. 'This is an investment phase in the growth trajectory of the company, especially in our Regtech global SaaS business, where we are investing in building the sales and marketing infrastructure, as well as strengthening our products to meet the demands of enterprise customers in the global market,' he added. The Suptech business of the company continued to perform well as revenues grew at 19% YoY with improved margins. The company also received in Q1 FY2026, in partnership with Accenture, a prestigious award from the Qatar Central Bank to build a digital reporting platform. IRIS' new AI enabled automated XBRL report creation product, IRIS Instant, was rolled out in the Malaysian markets and saw early adoption through a much more simplified and intuitive way of creating digital XBRL reports. 'Going forward, regulators are likely to see tools like IRIS Instant making XBRL creation using AI much easier within their jurisdictions. This in turn should enable newer regulators to more easily adopt digital standards like XBRL,' said Rahul Dhamne, Consulting Head, IRIS iFile. On the Regtech side, IRIS Carbon clocked a 10% growth in Annual Recurring Revenue (ARR) on a QoQ basis. 'Our new Disclosure Management product has been well received in the market with over two dozen customers using this solution in the international markets, at a significantly higher annual subscription value compared with pure XBRL reporting module,' said Deepta Rangarajan, Co-founder of IRIS. 'Even as we enhance our offering to make it best-in-class, it is heartening to see that our disclosure management solution has been able to establish clear value for the Office of the CFO both in the mid-market segment as well as in the enterprise segment,' said Anuradha RK, Business Head, IRIS Carbon. Vineet Kandoi, Finance Controller at IRIS concluded 'While the first quarter is typically a subdued period for the Regtech business, this quarter's performance was further impacted by the deferral of a few anticipated orders for our automated data flow solution in the BFSI segment. We expect these to materialize in the coming periods. However, our principal focus is on growing the ARR, and we believe we will see that happening with the investments we are currently making.' About IRIS Business Services Limited IRIS Business Services Limited is a Global RegTech company listed on the BSE (Scrip code: 540735) and the NSE (Symbol: IRIS). The IRIS SupTech suite is leveraged by 30+ regulators worldwide including business registries, central banks and stock exchanges/ securities commissions to simplify and streamline their supervisory operations. IRIS is also a leading provider of financial, ESG and regulatory reporting software to enterprises, banks and financial institutions across the world. For more information, please visit Note to readers: This article is part of HT's paid consumer connect initiative and is independently created by the brand. HT assumes no editorial responsibility for the content, including its accuracy, completeness, or any errors or omissions. Readers are advised to verify all information independently. Want to get your story featured as above? click here!
News18
4 days ago
- Business
- News18
IRIS Q1 topline grows 10%, investments ramp up in Regtech business
Navi Mumbai, India – August 14, 2025: IRIS Business Services Limited posted a 10% growth in topline for the first quarter of FY 2026 even as the company geared up to scale its SaaS business in the enterprise technology space. 'Post the divestment of the Taxtech business and with the availability of non-dilutive capital, we are fully focused on taking the necessary steps to grow our Suptech and Regtech business lines, both of which have large and attractive opportunities globally," said K. Balachandran, CEO of IRIS. 'This is an investment phase in the growth trajectory of the company, especially in our Regtech global SaaS business, where we are investing in building the sales and marketing infrastructure, as well as strengthening our products to meet the demands of enterprise customers in the global market," he added. The Suptech business of the company continued to perform well as revenues grew at 19% YoY with improved margins. The company also received in Q1 FY2026, in partnership with Accenture, a prestigious award from the Qatar Central Bank to build a digital reporting platform. IRIS' new AI enabled automated XBRL report creation product, IRIS Instant, was rolled out in the Malaysian markets and saw early adoption through a much more simplified and intuitive way of creating digital XBRL reports. 'Going forward, regulators are likely to see tools like IRIS Instant making XBRL creation using AI much easier within their jurisdictions. This in turn should enable newer regulators to more easily adopt digital standards like XBRL," said Rahul Dhamne, Consulting Head, IRIS iFile. On the Regtech side, IRIS Carbon clocked a 10% growth in Annual Recurring Revenue (ARR) on a QoQ basis. 'Our new Disclosure Management product has been well received in the market with over two dozen customers using this solution in the international markets, at a significantly higher annual subscription value compared with pure XBRL reporting module," said Deepta Rangarajan, Co-founder of IRIS. 'Even as we enhance our offering to make it best-in-class, it is heartening to see that our disclosure management solution has been able to establish clear value for the Office of the CFO both in the mid-market segment as well as in the enterprise segment," said Anuradha RK, Business Head, IRIS Carbon. Vineet Kandoi, Finance Controller at IRIS concluded 'While the first quarter is typically a subdued period for the Regtech business, this quarter's performance was further impacted by the deferral of a few anticipated orders for our automated data flow solution in the BFSI segment. We expect these to materialize in the coming periods. However, our principal focus is on growing the ARR, and we believe we will see that happening with the investments we are currently making." About IRIS Business Services Limited IRIS Business Services Limited is a Global RegTech company listed on the BSE (Scrip code: 540735) and the NSE (Symbol: IRIS). The IRIS SupTech suite is leveraged by 30+ regulators worldwide including business registries, central banks and stock exchanges/ securities commissions to simplify and streamline their supervisory operations. IRIS is also a leading provider of financial, ESG and regulatory reporting software to enterprises, banks and financial institutions across the world. For more information, please visit view comments First Published: August 14, 2025, 15:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India Gazette
29-06-2025
- Business
- India Gazette
Regulatory compliance costs weigh heavily on small businesses; annual burden hits Rs 13-17 lakh: Report
New Delhi [India], June 29 (ANI): Small and midsized enterprises (MSMEs) are grappling with high regulatory compliance costs, with annual expenses ranging between Rs 13-Rs 17 lakh, according to a latest report by Regulatory Technology (Regtech) solutions firm TeamLease Regtech. In its report titled 'Decoding Compliance for Manufacturing MSMEs in India' it deciphers the intricate web of compliance obligations, encompassing licences, approvals, registrations, and permissions, that MSMEs must navigate throughout the lifecycle of setting up, operating, and closing an enterprise. The report highlights that a typical manufacturing MSME with a single unit in one state is subject to over 1,450 compliance obligations annually, cutting across seven categories of law. These include 59 types of inspectors coming at different intervals with different requirements, 48 different registers, and 486 imprisonment clauses, many for procedural lapses. 'The compliance burden is not only intricate but also expensive. The annual cost of meeting these requirements ranges between Rs 13 to Rs 17 lakh, straining enterprises with limited resources and minimal in-house expertise,' the report added. According to the report, Indian labour laws alone account for 66 per cent of all imprisonment-linked compliance, highlighting the excessive criminalisation embedded in the regulatory framework. The report highlights that this year's Economic Survey which mentioned that the regulatory compliance burden holds back formalisation and labour productivity, limits employment growth, chokes innovation and depresses growth. One of the biggest hurdles is the ever-evolving and changing ground for implementation. An average of 42 regulatory updates per day for the entire ecosystem, the report stated. It added that Financial Year (FY) 2024-25 alone saw 9,331 updates across seven categories of law. These updates come from different ministries, departments and regulatory bodies and impact all levels of enterprise. MSMEs in particular are affected by at least 90 per cent of these updates, given the country has a total of 6,45,22,249 of such enterprises. Rishi Agrawal, Co-Founder and CEO, TeamLease RegTech 'The data reflects an urgent need for reimagining compliance for unshackling India's MSME entrepreneurs. The country's policymakers need to reduce the disproportionately high compliance burden, deeply entrenched hostility, and the menace of inspector raj.' 'The country has witnessed the power of DPI (Digital Public Infrastructure) transforming digital payments. We need to add compliance to India's DPI stack,' Agrawal added. (ANI)
