State and federal laws exist to protect shareholders’ interests and corporations rely on good corporate governance practices as the structure that helps them keep shareholder interests as a top priority. By adhering to strong governance principles, corporations also position themselves to prepare well for legal risks, profitability, acquisitions and divestitures. The corporate secretary plays an instrumental role in upholding the board’s fiduciary duties. The position of the corporate secretary brings demanding and critical responsibilities that require them to perform at their best in their duties in preparing for board meetings, audit meetings and committee meetings that boards hold throughout the year.
It’s crucial for corporate secretaries to be highly organized. They usually maintain a calendar that lists all board meetings, committee meetings, executive meetings and audit meetings for a full year in advance. In addition, the corporate secretary is always adding timely and significant items to meeting agendas to ensure compliance with laws and to follow through with good corporate governance principles.
Advancements in governance technology are causing paper processes to become outdated and inefficient. Also, digital solutions have come a long way toward improving board communications. Online board books are the modern approach to streamlining the processes or meeting management. Digital software solutions save time and money while increasing cybersecurity measures. These tools go a long way toward simplifying the role of the corporate secretary.
Along with technological advancements, many varieties of board portals have been developed. Not just any portal will be sufficient for today’s most effective boards. Diligent Corporation is an industry leader in board portal software solutions. Your board needs a full-featured board portal system that has a high level of security and around-the-clock support. To be competitive, corporate boards must be forward-thinking and they need the advantages that an innovative digital software service provider can deliver now and in the future.
How Board Portals Simplify the Role of Corporate Secretary
The role of the corporate secretary is varied, fast-paced and multifaceted. Corporate secretaries are responsible for finalizing meeting agendas and setting up the meeting space to ensure that it has all the proper equipment and tools in place to make for a productive meeting. The corporate secretary spends much time in following up on notices, getting confirmations and reviewing tasks. During the meeting, the corporate secretary is responsible for taking meeting minutes and getting all the proper approvals for them. The corporate secretary is also responsible for properly storing and protecting meeting minutes.
Get Up to Speed with Diligent Board Meeting Management Software
Creating board books the old-fashioned manual way ate up a lot of the corporate secretary’s time. Diligent Boards streamlines the process of creating board books by providing the means to do it completely online. With Diligent Boards, corporate secretaries can now create, compile, collate, update and deliver board books to board directors and executives in a fraction of the time. Corporate secretaries can send out automated notices for updates, request RSVPs and get meeting agendas approved remotely. Digital board meeting management solutions drastically reduce the time needed to prepare board books from weeks to hours.
Digital processes also cut costs for labor, office supplies, equipment breakdown, and shipping or courier services. It’s not uncommon for board meeting packets to be anywhere from 40 to 500 pages long. Not only does a board meeting management portal help the corporate secretary stay organized, it makes it easier for authorized users to access or retrieve important documents and view them on mobile devices before meetings or between them.
With Diligent Boards, board directors and other users can make notes on documents in real time. They can find their marked pages within seconds and share them securely with others without fear of cyberattacks because of the strong security that’s built directly into the platform.
With the fast pace of business and the extreme competitiveness, it’s crucial for boards not to overlook the security features of board portals. Board portal security should ensure that the software includes the industry standard for cybersecurity, double encryption and continuous penetration testing.
Diligent Boards uses mobile-first technology so that board directors and executives can access their board books and other board materials at any time, using any of their electronic mobile devices. The technology makes it possible for board directors to conduct board business from any location. This is important because it’s common for board directors to become geographically distant from one another. Board portal technology also makes it possible for boards to do more remote video meetings, which allow board members to be present without the added costs for travel, food or other related expenses.
Board Portal Technology for Today and the Future
Corporate governance and other marketplace happenings are changing everything. As marketplace issues evolve, technology is also advancing programs to help boards keep pace with the challenges they meet every day. Today’s boards need people and technology that can innovate and adapt to meet the immediate and future needs of the company.
Diligent Corporation works hard to be innovative and to anticipate the future trends and problems that plague board directors and executives so they can address emerging issues expediently. Diligent has an active research and development team and they invest heavily in creating secure digital governance solutions that protect board information and enhance governance principles.
Diligent Corporation Is the Modern Governance Leader
Diligent Boards integrates fully with other Diligent solutions to provide full governance solutions for modern boards. Other Diligent products, such as D&O questionnaires, self-evaluations, electronic voting, electronic meeting minutes, entity management, nominating and governance software, and customized electronic news resources, make Diligent’s products one of a kind. Diligent’s software solutions are backed by the world’s leading security standards and your board can be assured that their data is protected by secure data centers located right within your region or country. Diligent Corporation provides the tools and support for corporate secretaries to empower them with the technology, insights and processes they need to govern, thrive and endure in the modern age.