The job of a company secretary is inclined towards financial administration and legal operations. Company secretaries know business, company and securities law operating in India. Company secretaries concentrate on the long-term growth of the company. Professionals see company secretaries as professionals with stringent codes of conduct. The regulatory compliances assist government-demanded policies like “the ease of doing business” and making in India. Company secretaries assist in shareholder meetings, preparing minutes, circulating the agenda of the meeting, and preparing the status of the compliances. The job of a company secretary demands paperwork, digital work and fieldwork. The blog educates the changing role of company secretaries with technology. A set of tools helpful for the job of a company secretary is listed here. The accuracy of legal and administrative information is an extra burden to the company secretary. These tools resolve the regulatory burden.
Diligent board:
The administration work requires time management. The statutory work is the process of maintaining documents and taking decisions. The administration work requires time management. Diligent board help by supplying the materials to the company secretary. The materials work online and offline. The diligent board has features to conduct surveys with questionnaires before the prompt discussion in the board room. It saves time for the board members as the research and groundwork of the problem is in the picture.
NASDAQ Boardvantage:
The software helps the professionals to incorporate the survey results, documents and audio communication into the meeting. It provides remote access.
Leading brands such as Starbucks, P&G, Suncor, and Lenovo use this product for board management.
It completes the work faster by providing the model for agendas, capturing the minutes and distributing research materials to the directors.
OnBoard:
The platform helps for conducting meetings from multiple places. Devices like iPad, iPhones, tablets and Android phones are connected easily to this platform.
It improves communication by incorporating announcements, and notifications to the stakeholders. It guides one-to-one and group conversations.
Azeus Convene:
Convene and incorporate the actions and documents to improve transparency in the discussion.
Convene handle the sensitive data with security. The audit trials, documents and access are under security.
By spending less time in the board room, the professionals can complete the projects on time. It increases profits and reduces the period of the project.
GEMS
The Global entity management system helps companies that come under global compliance challenges. It centralises insider management, entity management and agency services, regulatory solutions and board governance details. It is the electronic solution for understanding global practices.
How to choose tools?
Microsoft Excel and Word are the basic-level tools for administration. Other software tools are available in large numbers in the market. The tool cost and the project cost is the point that makes the professionals think. Apart from the cost of the tool, consider other things like integration, mobile accessibility, maintenance, demo, reviews, and scalability. In the long run, the goodwill is the value of the business, not the money. Money is the profit for the short term. Goodwill is the value in the long term.
Integration:
A company secretary should read the rules column in the Articles of Association. He should explain to the board about the compliances and the ways to implement changes in the organisation. A company secretary’s job is not to educate and implement the compliances but to ensure that the board follows the rules of the company. Integration is associated with risk management, safety, health, conflict of interest and documents management.
Mobile accessibility:
A company secretary understands the gap between the compliances and rules of the company. He should bridge the gap and complete the work on time. Company secretaries do multi-tasking and please the members of the board. By using appropriate tools, a company secretary can improve advisory skills.
Demo:
Before selecting a tool, check the demo and apply the features in practical terms. Company secretaries are the task managers. They understand the time and process of the secretarial job. If the demo satisfies, it is good to go with the purchase of the tool.
Reviews:
Before buying products with high cost, the general advice is to check the reviews in the public media. The review is the real-time views that provoke the buyers. Checking the reviews helps to compare similar products and come to a decision.
Maintenance:
Before buying a product, check the maintenance option. The periodical updating as per the legal market is helpful to a company secretary.
Scalability:
The size of the organisation and rules of the company create challenges to the job of a company secretary. The tools show the new opportunities, protocols, strategies, controls and risks. Before conducting the meeting, and implementing changes doing the groundwork reduces flaws and improves the timely delivery.
Conclusion:
Listed companies are supposed to appoint a company secretary. And companies with a paid-up share capital of ten crores must have key managerial personnel. The companies act says that the key managerial personnel is a person holding the post of chief executive officer, managing director, manager, company secretary, the whole time director, chief financial officer, and officer. All these board members are the key managerial personnel in a company. Company secretaries are the senior board members. They are associated with the company from the incorporation, public issue, annual general meeting and decision-making. Every change and the story associated with the change in the rules of a company brings success to the company. The contact of a company secretary with all the board members ensures collaboration. All the board members are involved in the financial and statutory operations. By discussing the real-time challenges with the board members, the company secretaries complete the job with accuracy.
