Online tools for corporate governance assist companies make their boardrooms easily accessible and accountable. Shareholders, regulators, as well as investors are seeking greater transparency and accountability in the wake of notable company collapses such as Enron and WorldCom. To satisfy these demands, board directors should adopt new technology that allows them to conduct their work more effectively from home or wherever they are located in the world.
The online board portal is an application that has made waves in corporate governance. It is a central place to house meeting materials, such as agendas, board books minutes, committee charters and financial reports, strategic plans and other vital documents. The top portals also provide an electronic workflow that allows directors to easily collaborate and communicate with their colleagues, even if they’re not in the same room.
Other tools for governance include a complete corporate database to manage the required filings for each entity’s requirements and maintain minutes of meetings, such as minutes and resolutions, as well as templates for consent and resignation. Some platforms allow users flag possible conflicts of interests they may have, and provide an opportunity to declare these prior to board meetings and shareholder’s meetings.
Data governance software vendor Precisely offers a suite of tools that try this include its Data360 Govern and metadata management tools, with the goal of fostering trust in your organization’s data assets. The tool automates workflows to manage data and lets you create and deploy policies. It also harvests and imports metadata from your back-end systems as well as other tools, and offers visual views of the data’s lineage.