Technology and risk are two topics that any effective board of directors should address in one of its meetings. In this article, we will analyze basic risks during implementing Agenda management software.
What is Agenda management software?
Due to the rapid development of disruptive technologies and the emergence of new risks affecting the business, the board of directors will have to devote more time to these issues. By overseeing corporate strategy, the board of directors plays an important role in the digital transformation of the company. Management constantly tells the board that digitalization is the key to the success of the enterprise.
However, before embarking on digital transformation, the board of directors must understand how it will affect the company’s operations. Is the company ready for potentially large-scale changes? How will investing in digital technology benefit it? How will new technologies affect the quality of customer service, the work environment for employees, and the corporate culture? So, let`s analyze this situation on one of the key elements of board meetings – creating an agenda.
The agenda is the basis of a board meeting. It is like a roadmap of the meeting to make it more productive. But how to organize an efficient agenda? For this purpose, there is specially designed software.
Agenda management software is the solution that streamlines the board’s agenda preparation process by accelerating workflows and approval processes, as well as automating preparation and distribution. The software is designed to control corporate content and content-oriented business processes in medium and large commercial and state enterprises with a large number of geographically distributed divisions and many contractors.
The system provides information support for the main document management processes of the organization:
- incoming, outgoing, and internal correspondence;
- organizational, administrative, and regulatory documents;
- contractual documents;
- instructions and resolutions;
- sets of documents.
What are the risks of Agenda management software?
A well-thought-out approach to risk oversight can be truly beneficial for both the company and its shareholders. The right approach to creating an agenda increases the transparency of actions taken by the board of directors in the eyes of investors, makes it possible to attract diversified directors with the necessary competencies, effectively distribute risks at the board level, and also allocate time to discuss strategic risks. Among the common risks there are:
- The stakeholder requirements could conflict with each other.
- Team members are allocated to multiple projects.
- The project was approved without team buy-in.
- A 3rd party may not deliver their part.
- So, powerful agenda management software should include the following modules:
- Agenda item development and approval workflow;
- Agenda item collaboration and sharing;
- Complete agenda/minutes compilation and publishing;
- Public portal for access and retrieval of complete agendas and meeting minutes.
What are the benefits of the software?
Take advantage of numerous online agenda scheduling functions for fast implementation within your company and simplified user management:
- Easy to use. Mastering the program is quick and intuitive. Plan your appointments and vacations with just a few clicks.
- Access rights. Set up individual read and write access for each scheduling user.
- Personalization. Personalize the program according to your needs. Highlight important information with color-coding.
The system also allows you to scan a document and add the resulting electronic image as an attachment of a document card. This feature is available both when downloading a new attachment file and when updating the version of the attachment file.