Board work has become digital – are you up to speed?
The transition to the digital age has changed the way we communicate. Nowadays, success depends on using digital tools and on digitising processes and routines. Enterprises which are not receptive to, or in line with, digitisation will lag behind and ultimately fail. This is why it’s important for the board and management to embrace the challenges and, not least, the opportunities that enterprises currently face. The board room cannot stand in the way of this digital transformation.
While many stock-exchange-listed companies have made good progress in digital support for the board room, surveys show that close to 90% of the Nordic medium and large enterprises are still lagging behind.
A company that is committed to secure and efficient documentation interaction, and that takes its board seriously, does not send board documents by post or by e-mail. This is a cumbersome and outdated way of working, and there are far better solutions.
Since 2005, Admincontrol has offered secure digital board portals to improve and streamline interaction and information flow between the board, management, auditors and shareholders. Via a browser or custom iPad app, the organisation’s various user groups have access to all relevant documents – no matter where they are in the world or the time of day. The result is streamlined communication, making it easier to meet formal requirements, and providing a better basis for decision-making.
Download our white paper “Board Portal Fundamentals” to read more about the value of digital board portals.
The board members have spoken: “No more paper!”
Every year, Admincontrol do our customer survey of more than 2,000 board members. In one of the questions, the respondents are asked to highlight the biggest advantages of using a board portal. Year after year, the highest score goes to the ability to work in a paper-free environment, followed by easy access to documents regardless of time and place.
Veidekke ASA is one of more than 1,500 companies that use Admincontrol’s board portal, and for the Director of the Group Secretariat and Analysis, the traditional practice of board communication by e-mail and post was no longer fit for purpose.
Historically, we distributed board documentation via e-mail and ordinary post. However, we gradually identified a need for a secure and intuitive distribution channel with easy access for all users. Our main focus was security and user-friendliness. The current system provides both the administrative function and board members with full access to the most recent versions of board documentation, in a secure and user-friendly way. Including via iPad.Kristoffer Eide Hoen Direktør Konsernsekretariatet og Analyse, Veidekke ASA
Board documents always at hand – experience the benefit of the iPad app!
Board members and managers need a tool which ensures that business-critical documents are always accessible, online and offline. Admincontrol made one of the very first iPad apps for the Board room. The initial version appeared right back in 2011, only a year after Apple originally launched the iPad.
The Admincontrol app, and the rest of our solutions, are continuedly further developed, this is done in close dialogue with our customers. The Finance and Administration Manager at Oslo International School, have been very pleased with the transition to the iPad app.
Admincontrol ensures that we can work in a paperless environment on our most sensitive documents. Equally, the information is always available, encrypted for safety, but easy to work with. Admincontrol’s iPad solution works exceptionally well, and our board members highly appreciate it.Knut Sørlie Finance & Administration Manager, Oslo International School
In partnership with Admincontrol, many stock-exchange-listed companies have defined the standards for the digital board room. In Norway, well over half of these companies have implemented a board portal in recent years. Now it’s up to small and medium-sized enterprises to also set out a digital agenda for their business and, not least, for their board processes. Absolutely all companies should be committed to streamlining, professionalisation and sound decision support.