Reforms in the Boardroom Pave the Way for Increased Board Efficiencies
January 16, 2012 Leave a Comment
As noted in the Globe and Mail’s ‘Board Games’ 2011 Survey, a major revolution is happening in Canadian Boards. Where previously Boards were hand picked by the CEO and therefore in their debt, more and more directors are operating independently, providing tactical supervision to their executive teams.
This separation of the Board from management means that Boards are more demanding in their oversight, are looked to more for strategic planning, and in an economic climate where the public is increasingly frustrated with the way corporations behave, are considering governance in a broader sense with regards to both social and environmental decisions.
It also means that directors are doing a lot more work; a 2010 survey showed that directors spent an average of 227 hours/year on a large corporate board—including extensive reading of board materials as well as attending committee and board meetings.
All this means that the need for improved efficiencies around all governance processes is greater than ever. An effective leadership team requires a communications portal that serves as a secure environment for discussions, updates and collaboration. And while board portals can be a vehicle to drive governance, they don’t replace it—good governance will always remain a matter of expertise, ethics and transparency. By providing a secure online environment, an organization increases director visibility and provides timely access to information, making the processes of good governance more readily available.
At APRIO, we’re constantly evolving specialized software tools designed to simplify repetitive tasks and help boards and their administrative teams save time. And while increasing productivity is important, it’s only part of the job. APRIO’s communication tools and document repositories save costs, reduce risk, improve security and enhance reporting better than email and paper. These tools in turn give our clients immediate improvements in board effectiveness and create great value for stakeholders.
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Visit the Report on Business Board Games 2011 website here to find out more: http://www.theglobeandmail.com/report-on-business/careers/management/board-games-2011/
