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Effective corporate governance software allows your board to make more informed decisions with ease and ensures compliance across all stakeholders. With a focus on observing ethical standards and aligning strategic goals with stakeholder needs, board portal solutions such as OnBoard can help you develop an efficient workflow and streamline your meeting process. Find out more about our top-of-the-line solution and download our no-cost Board Management Software Buyer’s Guide.
Traditionally, different departments within your business may employ different methods for recording values for risk assessment as well as audit results and compliance information. This can make it difficult to gain a clear understanding of how your entire business is reducing risk, adhering to guidelines, and observing regulations. GRC software allows you to integrate the collection of data across departments, teams and locations in a single system that provides you with an overview of your governance processes.
Corporate governance requires your company to share any information that could be important or relevant to shareholders, directors, auditors, employees, suppliers, customers, and suppliers. This could include financial reports, changes in normal operations, results of board meetings, departures or new hires as well as other events that could impact the sustainability of your company over time.
A lot of the rules that govern the current corporate governance system are based on the notion of shareholder primacy. This theory suggests that managers are motivated to maximize shareholder value even if this results in negative consequences for their business and employees. In order to combat this problem of agency and to limit the potential for abuse, shareholder-focused corporate governance seeks to limit opportunities for managerial misbehavior.
