Decisions made at the Board of Directors’ meetings have
far-reaching implications, determining whether the firm in question is headed
for success or not. The buck stops at the Board of Directors.
Every time a company is embroiled in a controversy, the
magnifying glass turns to the Board of Directors. Was the decision approved by
the Board? To find that out, you would probably have to go through mountains of
paper files to retrieve the minutes of past meetings.
With the world heading for green solutions to avert effects
of global warming, local technology firm Software Technologies Ltd (STL) has
launched an electronic board management system – eHorizon eBoard – that will,
among other functions, electronically store data, eliminating the need for
paper.
The system is also expected to improve governance and
operations of Boards of Directors of organizations to meet the growing need for
better corporate governance and continuous compliance. The eBoard system, which
is hosted online, is designed to manage various aspects of Boards of Directors’
meetings, ranging from minutes agenda of regular meetings to evaluation of
directors.
“Boards of Directors hold an average of 6 to 12 meetings
every year. The meetings are characterized by the presentation of minutes,
recommendations from various meetings and decisions that have far-reaching
implications. The eBoard system stores such data electronically, thus saving
time spent perusing papers,” says Chets Mukherjee, the STL Operations Director.
The eBoard system, he explains, also has a compliance
dashboard that enables the management of a listed company, for instance, to
know if reports to be submitted to the stock exchange of the Capital Markets
Authority have been handed in on time.
According to Jyoti Mukherjee, the Chief Executive Officer of
STL, directors face enormous challenges today as they endeavour to maintain
transparency and enhance corporate governance.
They are equally responsible for overseeing the performance
of their organizations, detecting risks and ensuring timely and effective
measures are taken to maintain compliance.
The eHorizon eBoard is designed to help the directors, chief
executives and company secretaries to meet these goals.
On matters concerning the security of crucial files and
documents that at times should only be accessed by the directors and top
management, the eHorizon eBoard has comprehensive user security, allowing a
company to control what each user has access to by defining roles and
privileges within the system. Chets explains that, for instance, an Audit
Committee member can access documents for the Audit Committee but be restricted
from accessing all documents for other committees and the Board.
STL was founded by Jyoti more than 20 years ago to fill the
then technology gap in the country. Today, the company serves over 150 large
corporations in East Africa, putting them in the league of the most widely
recognized providers of software solutions and support in the region. The firm
operates branches in Uganda and Tanzania and runs project sites in Nigeria,
Zambia, India and the Middle East. STL is better known for its flagship
product, the eHorizon suite, a mid-range set of solutions designed to provide
seamless information solutions. The eHorizon Human Resource Management System
has been feted as the best HR system by the Computer Society of Kenya 4 years
consecutively.
Other award-winning solutions by STL include the eHorizon
Financial Management System, eHorizon SACCO system, eHorizon Fleet, eHorizon
Aid Management System and eHorizon Clinic.
STL is expected to be listed in the Nairobi Stock Exchange
in the next two years.
Source: The Financial Post (Kenya)Author: Dinfin Mulupi
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