A centralized corporate record isn’t just an single source of truth. It’s a powerful asset for GCs, legal departments, risk and compliance officers, and others looking to take on a more strategic role within the organization.
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Taking the time to incorporate automation, systems integration and even AI into the way your governance team works can set off a cascade of positive change in your organization. Just remember, this is a journey comprising several stages, each made up of made up of incremental steps in the right direction.
In the past, governance professionals typically spent a lot of their time responding to queries and dealing with ad-hoc issues. As their workloads increased, they became ever more reactive. However, in recent years we’ve seen their roles take a major shift from reactive to proactive.
Companies are increasingly realizing that automating recurring and repetitive tasks will enable their governance teams to handle higher volumes of work with more accuracy. Not only that, but it will empower them to spend more time focusing on strategic initiatives – where to rationalize entities or enter new jurisdictions, potential mergers and acquisitions or when to launch an initial public offering (IPO).
If your organization moves to centralized corporate governance, how can you be confident about keeping all your entities around the world in good standing with the relevant authorities? Vasil Blaze, Global Entity Manager, Corporate Secretarial Services, from Diligent partner Law Debenture, shares some essential pointers.
In the past corporate governance was often managed mainly on a localized basis, with the responsibility split geographically. The Law Debenture Corporation's Global Entity Manager, Corporate Secretarial Services, Evon Chung, explains why multinational corporations are increasingly moving towards centralized governance and shares some tips on how to streamline the changeover process.