The changing view and roles of technology in corporate governance

The changing view and roles of technology in corporate governance

The Governance

In today’s post-recession environment, corporate governance has perhaps never been subject to closer scrutiny. Boards of directors face new challenges: there is an increasing pressure from the public to take socio-economic and environmental responsibility, and from governments pursuing regulatory changes, such as those passed by the Dodd-Frank act in 2010. Boards are recognising that governance, risk, and compliance are continuously growing in importance, and the responsibility of the board is increasing as well. In the midst of all this, boards are looking for new ways to improve performance, increase efficiency, and ensure compliance with ever-increasing regulation.

The role of technology

The role that technology has to play is significant. eShare, a company dedicated to improving governance through technology, wanted to discover just how new technologies are changing and shaping boardrooms, and how those professionals who work in governance, risk, and compliance feel about the changes. To accomplish this, they issued a survey in November 2013 – the 2013/2014 Governance Software Survey. eShare approached governance professionals from a range of sectors including corporate, finance, pensions, health, and housing. A total of 245 respondents took part in the survey. A variety of roles within corporate governance were represented, however the majority of respondents were either corporate secretaries, trustees, or directors.

The results were released in February 2014, providing a thorough and enlightening view of technology and its applications in the boardroom.This report discusses their relevance to current boardroom practices.

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