Enterprise governance management is an important, but little-known, term that board directors use occasionally in the corporate marketplace. It’s an up-and-coming term that warrants attention because of the current emphasis on best practices for good corporate governance. Principles of good governance were designed with the unique relationship between board directors and managers in mind. This is especially important for law firms, which must hold ethics, morals and justice in high esteem.
It has often been said that governance means doing the right thing, and management should be concerned with doing things right. Getting this concept straight ensures that the lines between governance and management remain clear and distinct.
Governance requires a competent board of directors who can set the organization’s goals and point it in the direction of success while remaining highly transparent and accountable. Boards of directors need the right set of tools to fulfill their duties and responsibilities. In today’s corporate world, enterprise governance management solutions encompass an array of software products that combine to form a comprehensive enterprise governance management solution.
What Does an Enterprise Governance Management Solution Mean?
Good corporate governance happens when the right leaders, board directors and stakeholders get the right information, so they can ask the right questions to steer their organization toward success and profitability according to their mission.
Enterprise governance management means applying technical tools and resources to meet the full range of governance needs so that your law firm can govern at the highest possible level. Excellence in governance leads to long-term success and sustainability.
What Tools Can an Enterprise Governance Solution Offer My Law Firm?
Diligent Corporation has designed a suite of software solutions to meet the needs of large or small law firms and to customize those needs over time. Our solutions are highly secure and fully integrated. Your law firm can count on them to address issues of risk and compliance while implementing good governance principles. Here is a preview of the enterprise governance management products we offer, which we call the Governance Cloud.
Diligent Corporation was a leader in board portal solutions for corporate boards with its board portal, Diligent Boards. Our technology design teams have worked hard to create an online workspace where board directors can collaborate and share board books online and in real time. Diligent Boards offers top-level security for the most confidential, secure transactions and communications.
Director & Officer Questionnaires
At Diligent, we know that many routine duties don’t always get the attention they deserve because manual methods are paper-intensive and time-consuming. With online Director & Officer Questionnaires, your board directors can complete their forms online and even sign them electronically. This governance solution ensures compliance, accuracy and efficiency.
Board self-evaluations are required for some law firms and recommended for all. Diligent can help your law firm to design board evaluation questions so that you get the most valuable and useful results about what your board needs to function at its best. This electronic tool can be used and modified every year to improve board director performance, compare your results with previous results and help you strive toward your goals.
Resolutions and Voting
Making resolutions and voting couldn’t be easier than when using the Diligent Boards portal. Board directors can vote securely online in real time using the full-featured board portal. Electronic signatures make the process of finalizing official votes a snap.
Many law firms continue to use their regular or personal email addresses for correspondence with clients and colleagues. Regular email platforms lack the necessary security that Diligent Messenger provides for the most secure, confidential communications and document sharing. Diligent Messenger is an add-on program that integrates completely with Diligent Boards.
Diligent listened to board directors of law firms who told us that taking minutes at board meetings was inaccurate, inefficient and time-consuming. Our technology designers created a software solution that pre-fills most of the necessary and routine information, and then they did even more. They created customizable fields that can be dragged and dropped to create a better flow. Diligent Minutes also features electronic action assignments with automated follow-ups.
Virtual Data Rooms
Our attorney clients informed us about their need to have an online meeting room where they could collaborate on important cases without risk of leaking confidential information. Our board portal provides virtual data rooms with user permissions where attorneys and others can collaborate and make decisions in real time. Virtual data rooms save the hassle of routing documents to various locations. They save time, as attorneys don’t have to wait for other parties to read and respond to their messages. Our attorney clients are happy to report that virtual data rooms render them more productive by giving them more hours in the day in which to conduct and bill for business.
Large law firms need a central place to manage the company-wide system. Diligent’s Entity Management software gives large corporations the ability to combine and incorporate data from multiple sources for the purpose of review and reporting. The Entity Management solution lets corporations chart data and pull reports in real time. Automated processes help to ensure compliance and to minimize risk. This program integrates seamlessly with other departments’ existing processes.
Diligent developed Insights, a program that curates content and videos that keep your law firm up-to-date on the latest trends and developments that affect your industry and your law firm. Attorneys can pull up content that they need or that interests them in seconds.
What Puts Diligent Corporation Ahead of the Competition?
Diligent entered the governance space well ahead of the competition, and it’s the only provider of a comprehensive governance management solution. Our company employs more than 100 people working in product development.
Our government passes new laws every day. Diligent promises to continue the process of integrating and digitizing governance solutions to add to our current suite of software solutions that law firms need and request.
Board members can expect us to meet their needs, whatever they are. We look forward to continuing to invest in research and development to keep pace with the evolving needs of law firms and other businesses across the globe.
To learn more about how to digitize your governance needs in the boardroom, request a demo and see how Diligent can meet your board’s needs.