No matter the field you are in, technology has touched everyone’s life and transformed it for greater efficiency and automation, where Company secretary is no exception.
According to a survey conducted recently, the usage of technology among the company secretaries is inconsistent. 62% of company secretaries use it for admin purposes such as board packs or e-filing and only 14% of them use this innovation for other works.
As the role of company secretaries is mutating and becoming more challenging, technology has the power to change these challenges into opportunities through the transformative changes in productivity.
The expectations from CA professionals are expanding with the increment in their responsibilities. As per the updated UK Corporate Governance Code, the company secretary holds the responsibility to advise the board on all governance issues.
An Ever-Growing Challenging Role of CS
As the regulatory provisions are increasing and becoming complex along with more stringent rules, challenges for CS professionals are also expanding as they hold the responsibility to advise the boards and confirm their adherence to legal rules and regulations.
They need to be updated with the new legislation and the latest amendments in rules. The role of a CA professional has transformed from clerical to strategic and decisive.
Adapting Technology To Back Governance
With the innovative approach, CS professionals easily and properly handle its governance aspect.
Technologies which are compliant with legislative norms are highly beneficial for CS. Such inventions help CS professional prepare government-certified audit trails, ensure truthfulness in the unapproved documents and allow correct & up-to-date information to be transformed into compliant document templates.
The benefits of technology for the compliance experts apply to company secretaries as well.
Increasing Demand For Efficiency
Businesses lay emphasis on increasing the efficiency & effectiveness of all its aspects and so, of course, the processes of company secretaries.
The way the company secretaries organise & conduct board meetings directly affects the valuable assets and the board members of the company.
Technology again plays an important role here. Technologies cut down the time-consumption, paperwork & manual invitation and ensure that directors get what they require to make the meeting as conducive & beneficial as it can be in minimal time and efforts.
Even the board members have experienced that technological advancements are very helpful in streamlining the production process and bringing more proficient results.
Before investing in such technologies, one must ensure to opt for a techno-solution which will simplify your life and tasks. A solution should be high-advanced yet user-convenient & intuitive. One must recognise the best board portal service to make sure that your investment would yield life-time fruits for you.
Guaranteeing The Highest Security
Technological advancements inevitably come with higher-risks and the most common of which is cyber-vigilance.
Portal technology has the potency to enhance your corporate governance, for example, it can help you save the sensitive information of the corporates from getting posted or mailed over insecure servers.
While faring forward towards digitalisation, you can ensure that you follow a safe approach. One should choose the solution providers that develop highly-secure software, utilises the latest invention and assure 100% safety.
2020 Would Allow Technology to Bolster the Evolving Role of CA
As the hopes from the company secretary are multiplying and changing with changes in companies’ and regulatory priorities, technology & innovation would be adopted to bolster the evolving role of CA.
In 2020, the technology will continue to change & simplify the approaches and responsibilities of the evolving roles of company secretary and capitalise these evolutions.