Developing a robust corporate governance structure requires putting in place tools to help your board members as they work. Effective tools enable you to record minutes, distribute them and keep track of meetings. You should also ensure that all relevant documents are tagged. This enables you to provide the necessary information to your members/shareholders and also to provide transparency on how the company is run.
You can create a board calendar online that can be used by all directors. This makes it easier for directors to access agendas and documents prior to meetings. It will also allow you to record the resolutions voted on during meetings, and automatically generate a minutes report at the conclusion of each meeting. A reliable online tool can also allow you to conduct an evaluation of your board. This can be useful to assess the performance of your board and identifying areas for improvement.
A reliable tool will allow you to apply version control and data lineage. This provides you with a 360-degree view of your data. It will also allow you to track the way data is used and controlled within your company. Another advantage of an online tool is EDICOMLta is a service offered by EDICOM that provides long-term archive and the most secure standards to ensure the security of your documents, thereby providing probative value for third party compliance processes. EDICOMLta is an excellent tool to utilize in conjunction with invoice-approval software to improve the management of invoices received. It can help reduce response times from clients, suppliers and employees and increase transparency for documents exchanged within your organization.