The board is the decision-making body of a company or organization. The board’s role is critical to bringing value through your company’s core operations. Among the many responsibilities of the board is addressing essential company matters through making critical decisions during board meetings. On behalf of the whole business, how do board members come up with a decision? How should boards formulate their resolutions?
Over the past two years, Singapore has been introducing new regulations that guide companies in managing the welfare of boards and shareholders for annual general meetings to facilitate businesses and organisations in making alternative arrangements in light of safe distancing measures brought about by the COVID-19 pandemic.
Before your company can fully embrace digital transformation, you must first deal with the various pitfalls of a remote workplace. The lack of face-to-face interactions means there are certain limitations in communication, especially in information dissemination and engagement. In fact, a study by Deloitte shows that 75% of remote workplaces struggle to keep their members connected as they adopt the virtual setup. This applies not only to employees, but to board members as well.
Traditional paper documents and filing systems have been used to organize businesses’ employee and accounting information for decades. But they are quickly being replaced as technology evolves. Business financial accounting has been revolutionized by paperless accounting and paperless HR systems. These systems use cloud-based technologies to simplify and centralize the storage of essential information.
A lot of condo unit owners assume that well-built and well-managed condominiums are already good, thus they tend to miss condominium annual general meetings (AGM). This is the norm for the majority of the condo unit owners and shareholders. However, that should not be the case. Like any other annual general meeting, condo AGMs provide necessary information about the year’s activities and business of the council towards the progress of the condominium units.
The new decade has taught people how to cope up with change. Several crises have occurred that forced everyone to adopt new systems, workflows, and processes. The COVID-19 pandemic pushed operations to go remote or hybrid. Additionally, the introduction of advanced tools left entities to adopt technology, even if most users are still in culture shock and are hesitant to use these platforms.
The shift of the boardroom setup from physical in the pre-pandemic to remote in the pandemic has accelerated the trends in digital transformation of the board. The primary focus now of the boardroom directs toward data security, remote collaboration, and seamless meetings. Companies and organisations have switched to platforms and tools that enhance their virtual meeting experience and simplify their tasks — one of which is signing documents.
The fast-paced digital transformation is challenging financial companies of today. As the world continues to battle a pandemic, customers are opting to avail online services straight from their mobile devices, while most workplaces have transformed into a hybrid arrangement.
Pandemic or not, insurance companies aim to securely and efficiently provide financial assurance to the population. To further support this goal, the insurance market has adopted hybrid workplace setup but is now facing challenges in selecting a digital solution that ensures high-level security, increases efficiency, and facilitates governance practices.
The pandemic has overwhelmed us with changes, including the changes in workplace setup. Insurance companies have started adopting various types of hybrid workplace setups to accommodate the needs of both customers and employees. However, it has been challenging for such companies to find the perfect solution that provides efficiency, security, and governance all in one platform. This article outlines the internal needs of the insurance companies and how one digital solution can address it all.
