Technological improvements are helpful in every factor of a business & corporate compliance is not an exception. The company secretary’s role is now more challenging, because of the increase in regulatory legislation complexity and its changing pace. Due to evolving and expanding roles and responsibilities, company secretaries face an increased regulatory burden and hence it becomes imperative for them to use technology tools to help manage the workload and improve efficiency.
Below points are about how technology benefits company secretarial work :
Adapting Technology to Back Governance
Company secretaries should leverage the benefits of technology and use innovative approaches to handle properly the governance aspects. Company secretaries should use technologies that are compliant with legislative norms. Such technologies assist in preparing government-certified audit trails, ensure truthfulness in the unapproved documents and allow correct & up-to-date information to be transformed into compliant document templates.
Guaranteeing the Highest Security
There is an inherent risk associated with technological advancements, and the most common one is that of cyber-vigilance. Technology can enhance corporate governance. It assists a great deal in ensuring that an organization’s sensitive information does not get leaked over insecure servers. Organizations must also be careful while choosing tech providers and should adopt only those who develop highly secure software and assure 100% safety of their data.
An ever-growing Challenging Role of Company Secretary
It is becoming more challenging for Company Secretaries as they have the responsibility to advise the boards and make sure they adhere to the legal rules and regulations. It has become more than necessary as rules have become more stringent, and also regulatory provisions have become more complex. A company secretary has to be abreast of the latest legislation and changes in rules and regulations. A company secretary’s role has transformed from clerical to strategic and decisive.
Increasing Demand for Efficiency
In today’s times, organizations stress a lot on improving the efficiency & effectiveness of all its business aspects and the processes of company secretaries is a vital part of it. Company secretaries have to organise & conduct board meetings very efficiently to add a valuable contribution to the company and its board. Technology plays a vital role here. It helps to reduce the time required and the paperwork involved. It also ensures that manual invitation is done away with, and it is made sure that directors receive all that is required to make the meeting as conducive & beneficial. Advent in technology has helped to streamline the production process and brought amazing results.
Organizations must ensure that the technology is properly absorbed and the ones who will be using it are properly trained before they invest in such technologies. Technology should be advanced and hi-end yet very user friendly. Organizations should identify and invest in the best board portal service to ensure that it yields life-long results.
Adopt Technology to Support the Evolving Role
With changing times, there has been tremendous change in companies’ regulatory priorities across the globe and thus a modern-day company secretary has to be highly aware of the changing landscape of technology & innovation and should be quick enough to adapt these so that the organization scales greater heights.
Also Read : Role Of An Outsourced Company Secretary For Your Business