Online tools for corporate governance help companies make their boardrooms easily accessible and accountable. Shareholders, regulators, and investors are demanding greater transparency and accountability following prominent company collapses like Enron and WorldCom. To satisfy these demands, board members must adopt new technology that allows them to perform their duties more efficiently from their home or wherever they are located in the world.
The board portal on the internet is an application that has made waves in corporate governance. It offers an online repository for the agendas, meeting materials and board books minutes, committee charters financial reports, strategic plans and other important documents. The best portals also offer an electronic workflow that allows directors to collaborate and communicate with their colleagues, even if strategic planning models with their pros and cons they’re not in the same room.
Other governance technology tools include a full corporate database to manage required filings to meet the requirements of each entity in each country and keep meeting records, including minutes and resolutions, as well as templates for consent and resignation. Some platforms allow users to highlight potential conflicts of interest that they might be facing and provide a form for them to declare these prior to board and shareholder’s meetings.
Precisely, a vendor of software for data governance, offers a suite that includes Data360 Governance and metadata management tools. The aim is to increase trust in your organization’s data assets. Its tool, which incorporates a flexible metamodel that automates the data governance process and allows users to design and implement data policies. It also imports, and then harvests metadata from your backend systems as well as other software, and offers visual representations of data lineage.