UK’s boardrooms still rely heavily on paper, new research by technology firm eShare has shown. According to the company, almost half (48 per cent) of UK’s organisations use paper to prepare for board level meetings.
Crunching the numbers down, the average board pack has 96.7 pages. With the average company having 8.1 directors on the board, and with 7.9 meetings held every year, that amounts to 6,200 printed pages, annually.
Online board portals are not that popular, organisations are still using email or Dropbox to share files.
Paper is being used heavily, despite the fact that it’s draining internal resources. It takes almost 10 hours to prepare the board pack, and that’s without any changes made after the meeting. Changes are made in a quarter (26 per cent) of meetings.
“It seems archaic that in this era of digital transformation, so many organisations are still using paper to produce board packs,” said Alister Esam, CEO, eShare. “Not only are the printing and production of them a drain on resources, but paper board packs can be easily lost, are inefficient and do not make for transparency and good governance at board level. Even email is only slightly preferable to paper, so with many areas of business now fully digital, why do many board meeting processes remain firmly in the 20th century?”
“Governance should be the number one priority for organisations in 2016. People expect businesses to be open and transparent in their operations and in what goes on at board level, and they expect individuals and companies to be accountable should that not be the case and should wrong-doing emerge. This is even more true in the turbulent post-referendum economic and politic climate. With organisations potentially looking at relocating and making major decisions about their future, board level transparency is even more important.”
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