Company Secretaries must verify current and accurate legal framework at a global level
The tone at the top in controlling key corporate data that ensure compliance with legal, tax, finance, stakeholders and regulatory agencies is critical.
Global or not, companies are more heavily regulated than ever. That requires the need for vigilant data collection to adhere to local and global governance and compliance regulations.
Therefore, a web-based entity management solution that considerably simplifies the management and exchange of vital corporate data, supporting the consistent application of corporate governance and compliance frameworks is essential.
Critical deadlines
The solution must have high flexibility and ease of use and can be easily adapted to meet the complex and wide-ranging:
- Customise screens to meet the needs of your company or individual departments
- Adapt field names to reflect the company terminology, so employees can easily recognise and manage the information
- Create favorites and position data to ensure users get instant access to the information most relevant and valuable
- Use the wide range of forms and document templates or create new ones.
Focus on adding value and mitigating risk will empower employees responsible for a particular entity information (such as tax, legal or treasury). The quality of data and information they need at their fingertips, enabling them to generate reports, verify the accuracy of information and meet critical deadlines.
With the many possibilities that exist on the market an effort has to be made to choose the right solution. The system has to be cost-effective no matter how large or small company is. It is essential that reducing paper filing and increasing efficiency among your departments, saving valuable time and resources.
Another focus area is on effortless integration. Linking data with existing corporate systems such as SAP, HR or financial reporting databases is essential so that data can be quickly extracted or imported using simple data mapping, without interruption.
Search and e-discovery.
Perform quick searches to find current and historical entity records and associated information such as contracts, trademarks, bank accounts, policy manuals and minute books is vital.
The massive amount of document creation and filing of electronic forms from many countries requires a global reach to address and access the latest jurisdictional forms. New technology offers the advantage of the automatic merging of entity data into the appropriate form, and electronic filing with the appropriate body, for the most commonly used forms.
Compliance dashboard
Document Management system must allow to quickly view a snapshot of the company at any point in time is critical. The system must create a framework chart by organising key corporate documents such as articles of association, powers of attorney, board minutes, contracts, consents and Annual Reports and consolidated global organisational charts that keep track of all entities on a compliance dashboard.
The compliance dashboard must automate controls for governance, compliance and entity management and proactively identify areas of non-compliance.
Other GRC tasks at the company secretary level include tasks and calendars for critical events such as regulatory filings, board meetings, quarterly reports and contract renewals, with handy deadline email reminders to all stakeholders in multiple languages.
