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The Role of Technology in Transforming Corporate Governance

09-Apr-2019 09:50:46

Corporate Governance at the ICSA Listed Companies Conference

Last Friday, Convene exhibited at the ICSA Listed Companies Conference to discuss the Government’s push to raise governance standards across UK PLC.

The main topic was the requirements set out in the new Corporate Governance Code.  With public trust in big businesses remaining low, the aims of the conference were to focus on whether the proposed audit reforms meet the criteria to be more robust and to discuss what investors will be focusing on in 2019.

More than one of the speakers at the conference, highlighted the tangible sense that this is a time when investors are looking beyond just financials. Corporate businesses are required to recognise the importance of their impact on the wider society. Serving on a board is increasingly challenging now that companies are expected to demonstrate company culture and values; long term thinking, stake holder engagement, diversity policies and green credentials.

Technology in the Boardroom & Changing Attitudes

While companies are not expected to achieve all their sustainability goals right now, what is required is a commitment to provide transparent value to the wider society and better, more honest reporting. Now, more than ever, boards need to seek out the best tools and technology to transform corporate governance.

Embracing innovative technology in the boardroom provides businesses with a competitive edge and redefines governance transparency and accountability. Technology is rapidly becoming a indispensable component that is vital to the long-term growth and success of businesses across all industries. 

For Convene, this is reflected through increasing requests from both the private and public sector. Our experience has taught us that low tech skills in the boardroom are now relegated to the past and directors are keen to harness digital expertise to create strategy and enable better decision making.

Our suite of online training videos is just one of the methods that have helped our clients seamlessly transition to Convene. We spoke to Rachel, an executive PA at Bristol Airport, who told us about the ease of going digital. "The implementation process and learning curve have been fairly easy. A couple of short sessions with internal users was enough to gain confidence in using the system." Read more about this case study here.

Any disconnect between board members and their digital skills is rapidly becoming a thing of the past. We are seeing organisations committed to achieving faster response times and agility in the boardroom, regardless of age or gender, putting pay to the argument that some board directors are less likely to be pro digital.

Nicola Snowe

Written by Nicola Snowe