Technology has helped make corporate governance faster, more efficient, and safer over the past decade, but the downside drives some directors away. E-mails are insecure, faxes sit in a shared In
basket, and too many eyes scan board information packages. Online board portals, high-tech dreams a few years ago, can now provide a digital world which can be safer and more productive than your boardroom itself.
Technology is fundamentally changing the way modern boards communicate. Traditionally, board communications have been paper, fax and then e-mail-based. Companies sent out board books in advance of meetings, and directors met in person to discuss agenda topics. Until a few years ago, this approach to managing communications was sufficient.
Today, however, things have changed considerably. More regulatory scrutiny, greater globalization, deeper competitive pressures, and more active shareholders have dramatically increased the volume of board work. It is also no secret that a great deal of board work now takes place between meetings, rather than during meetings.
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