Global Product, Global Presence
As the name would suggest, Global Entity Management System (GEMS) has been designed to track your entities irrespective of the jurisdiction in which they are located or incorporated.
GEMS has a number of key features that enable the tracking of entities in a central database, with the burden of data entry pushed to the local level when necessary. They include:
Web Browser Interface
There is nothing to install on the local desktop. Regional users simply access the software via their web browser (Internet Explorer) across your network, intranet or via the world wide web (most likely in an encrypted mode). This provides a simpler environment for your IT department to support and as such provides for a lower total cost of ownership compared to client/server applications.
Multi-Tier Select-Audience Security
Provides the ability to restrict edit or read-only rights at the entity or divisional level, or simply just the entities the user has authority over. This feature also includes the ability to apply the settings at a field level or data set level (EXAMPLE: one user can add and edit directors, but can only read shareholder information).
Approval Process for Data Entry
Useful in scenarios where records within a region should be reviewed/approved prior to being made visible to the general audience. This forms the basis of workflow for many of our clients, with the approval process typically subject to the review of supporting documents, which can also be attached to the data records within GEMS.
An expansion of this feature is a dedicated approval process for requests for new legal entities. Given the stature of such a request GEMS incorporates the ability to subject the request through a maximum of nine levels of approval.
Customizable Business Rules by Entity Type and Jurisdiction
The ability to set up jurisdictional restrictions for capitalization, minimum and maximum director limits, residency requirements, etc. These can be based upon local legal rules or your own internal best practice or governance guidelines. A series of reports will help you determine which entities are currently non-compliant with your guidelines.
Customizable Data Entry Screens
Data items that vary from jurisdiction to jurisdiction can be expanded to incorporate an unlimited number of variances. Be it local officer types, address types, regulators, entity types and many others, all can properly reflect the local terminology.
Producing graphical representations of group structures is easily achievable. They can be produced globally or by region. This can be automated by interpreting data directly from the Securities area or from other relationship such as tax. The speed by which charts can be produced means that tangible cost savings have been measured by existing clients.
All of the above can further be enhanced with the use of custom fields, which too can be tied in on a jurisdictional basis.
Multiple Language Support
GEMS is supplied with four default languages: English (USA), French, German and English (UK). Further languages will be added as demand dictates.
Additionally GEMS administrators can set up derivates of the master languages to better reflect internal or local terminology (EXAMPLE: the field Reference ID is changed to SAP Code, since this is the underlying content of the field).
Local Forms and Reports
GEMS is supplied with an extensive library of government forms and standard reports for multiple jurisdictions. All forms are available as PDFs, ideal for emailing and sharing internally or externally. CGS will monitor and update all government forms that it supplies. In addition to these forms GEMS administrators can add their own PDF versions of government forms from around the world and their own styles of standard reports.
In a number of jurisdictions we also support electronic filing of forms direct to government bodies. As demand dictates we shall expand the list of jurisdictions that are currently supported.