As we move into the second month of 2017, one of our Advisory Partners, Niamh Corbett, outlines the three big trends in board reporting that are continuing to dominate the boardroom agenda this year.
1. Efficiency
We’re seeing a drive towards making the board reporting process tighter and more efficient, to help reduce the administrative strain on the Company Secretariat. Report authors are also asking for clearer briefs to save time and stop multiple drafts and redrafts of papers, as well as requesting more feedback on papers from the board.
2. Technology
Companies are under pressure to solve their board reporting problems quickly and effectively, and are increasingly looking for a technological solution to help develop a house ‘style’ for the board, to improve the structure and content of papers at scale.
3. Bureaucracy
Most companies, regardless of size, are struggling with the sheer volume of information going to the various committees and to the board. Often this is due to a lack of clear understanding of the roles of the committees, and therefore what information is needed to support them. This is resulting in War and Peace style board packs, frequent repetition of papers between committees and mixed messaging. Consequently, we’re seeing companies starting to streamline the information flows within their organisations, resulting in a more efficient and less bureaucratic reporting process.
How can I find out more?
If any of these trends resonate with your organisation, our product 'Lucia' uses AI technology to make board papers more efficient, removing the bureaucracy from your reporting process. If you would like more details on 'Lucia' please book a demo here.
Video footage curtesy of Radley Yeldar's 'How Does it Stack Up'
