There is no denying that the COVID-19 pandemic has completely redefined not just the workflow of businesses but also educational institutions. From holding online classes and board meetings remotely in the past two years, to shifting to yet another relatively new work setup, such changes further reinforced the need for innovation in modern governance.

Security should be the utmost concern for all financial institutions for various reasons. Top on the list is to protect customer and client assets. By strengthening cybersecurity measures, financial companies can ensure that customer data is protected — eventually securing trust from stakeholders. This calls for financial boards to integrate advanced security measures across all governance practices, including meetings and data management.

Virtual meetings have undeniably improved workplace communications. With so many remote team communication tools with advanced features like Q&A, breakout rooms, chat, reaction icons, virtual whiteboards, and so on, it has never been easier to ask questions and seek ideas from meeting attendees. But, think back to your virtual meetings this week. How many of them were successful? Are awkward silences the norm in your meetings?

Audit committees are vital in every company as they are involved in maintaining the company’s financial stability. One of their responsibilities is to prevent any misconduct in auditing and fraud in the company’s finances. Thus, they are crucial in gaining the trust and confidence of investors and stakeholders. Audit committees have an impact also on the board’s plans and decisions.

During annual general meetings, your organization does not only present your financial reports and plans to your shareholders or members. Instead, you allow them to voice out and discuss company matters with you. After all, what is a meeting if it’s only one-way? AGMs are an avenue to strengthen your relationship with your shareholders and members. Fostering engaging discussions creates better conversations that would benefit both sides.

Increasingly, companies are being challenged by shareholders seeking to influence change and exercise power over corporate activities, practices, and policies. Shareholder activists use their stake in the company to enact campaigns that can contribute to the overall company value or advocate for a social cause. Giving shareholders a voice has proven to increase corporate efficiency and mitigate any practice that can hinder the company from achieving optimal value.

The concept of ESG (Environment, Social, and Governance) is an emerging trend among organisations and investors. In Singapore, more investors are now demanding companies to report their sustainability impact, issues, and efforts, alongside financial factors of their annual performance. Hence, this focuses on integrating ESG factors into business operations. Policymakers and regulating authorities are now rolling out requirements and standards with measurable targets and objectives.

During board meetings, the directors set goals and strategies and resolve critical issues that need urgent attention. But in reality, optimizing the organization’s performance doesn’t end during board meetings. What happens outside meetings is equally important as what happens during board meetings. Most of the time, directors need time to ponder before coming up with a sound decision. Moreover, their hectic schedule makes it difficult to monitor action items that need to be accomplished.

For the past years, companies and organizations faced new operational threats and compliance risks, both in their industries and communities. One beneficial strategy to address these matters is through a sustainability lens, or environmental, social, governance (ESG) lens. Businesses and investors have set their eyes on evolving ESG criteria to comply with regulations, and improve their entire operations and performance.

Cloud hosting is becoming the norm due to its efficiency, accessibility, flexibility, and scalability. Not only that, but it also optimizes IT expenses and encourages collaboration. However, with the rise of digitalization comes the surge of cyber attacks. With such threats, business leaders must be attentive to the cloud security of their businesses.