Developing a robust corporate governance framework requires putting in place tools to help your board members in their work. Effective tools allow you to keep and distribute minutes of meetings and track resolutions. They also help ensure that all relevant documents are tagged. This enables you to provide all the necessary information to shareholders/members of your company as well as providing an overview of how the company is managed.
You can create an online board calendar that can be used by all directors. This makes it easier for them to access documents and agendas prior to meetings. It also allows you to register the resolutions that are passed during meetings and automatically create a minutes document at the conclusion of every meeting. A reliable online tool will also permit you to perform an evaluation of your board. This is a great way for evaluating the performance of your board, and identifying areas for improvement.
A good tool will choosing the right board meeting tool for your firm allow you to apply version controls and data lineage, which will give you the complete view of your data. It also allows you to track the way data is used and controlled within your company. Another feature of a good online tool is EDICOMLta which is a service offered by EDICOM that offers long term archives and the highest security standards to guarantee the security of your documents, offering probative value for third process compliance by third parties. EDICOMLta can be utilized together with invoice approval software to optimize your management of received invoices, reducing client response time while providing greater transparency in documents that are exchanged internally.