Implementing the board software into corporate governance contributes to improving all internal corporate processes and achieving organizational flexibility of the company.
Board software: how to improve the work of collegial bodies?
The digital transformation of business has already affected most of the business processes of large companies, including how their leaders work. Most work issues can now be resolved from a smartphone or tablet, which is especially important for top managers who spend a lot of time on business trips. A rare process that is not yet fully automated is holding meetings and meetings at the highest level.
Board management software is a unique automated solution based on a robust digital platform that can provide the necessary functional set for preparing and holding meetings of the board of directors and relevant committees.
Following board management software overviews, the system allows you to organize:
board meeting planning;
control over the timing of the execution of decisions;
formation of minutes of meetings and other related documents following corporate standards;
storage and search of documents on corporate events;
obtaining analytical reporting on corporate governance.
What about the productivity of the boards?
The solution helps the company automate the process of preparing a board meeting, holding it, and summing up the results of this event. It also provides transparent control over the management of the organization. All responsible persons understand what item the order is and when it must be completed. Members of the board of directors of the enterprise (general director, financial director, etc.) have access to the system and can quickly receive information in electronic form about:
what issues are received;
which are included in the agenda;
what decisions were made at the meeting;
what work is done on them is underway.
Coordination of the agenda with the Chairman of the board of directors also occurs electronically. After the Chairman receives the agenda and reviews the questions, he returns it with his comments and sets the final date for the meeting. Next, the secretary forms the definitive list of issues of the meeting, drafts decisions on them with materials, and then invite the participants. After the meeting is held and the agenda is adopted, the system creates a protocol. It contains information on all the issues that were identified, as well as data on the voting of members of the board of directors: “for,” “against,” “abstained,” who made what comments, etc. Also, if necessary, extracts from the protocol are prepared – based on one or more questions and decisions from the general protocol. Finally, the statement is registered and distributed as a separate document.
How to prepare assignments in a board software?
Based on the protocol, you can quickly prepare instructions in the board software. For example, if a task is set to form a budget at a meeting, the corresponding instructions can be automatically sent to all appointed executors. By automating the process, control over the execution of instructions is enhanced. If the company already has a module for managing organizational and administrative documentation, then the board software is integrated with it, and instructions to performers come in the usual format.
All members of the board of directors and other critical business figures receive prompt information about the agenda. They can track changes online and agree on the necessary documents. A specialized solution provides a streamlined business process for issuing and monitoring instructions following the results of a meeting of the board of directors. It is critically important for the activities of a modern joint-stock organization.