Until recently, the information system used by corporate management bodies of PJSCo ‘TransFin-M’ functioned not as a single entity but as a set of separate elements not connected to each other. This disjointed system failed to provide quality information on time to members of management teams.
BoardMaps was selected as the partner in addressing this issue. BoardMaps offered an comprehensive solution to the problem – software and a team of competent specialists to implement the product, provide technical support and conduct user training.
BoardMaps is a unique software solution that enables collaboration of members of management teams, functional and project teams to discuss issues, take decisions and implement them. The system is based on the concept of Matter Circulation™ – a matter goes through various stages during its lifecycle – from the moment it is raised and discussed at a meeting until it is implemented and resolved.
The BoardMaps implementation resulted in centralization and standartization of all corporate services. It enabled shared remote access to materials, tasks, action items and other data. Applications for iPad and web-browser make it possible for corporate managers to access information from anywhere in the world.
T+ in a relatively short time transformed from a small investment company into a large holding thus requiring intensive expansion and development of all business processes. To improve organizing the meetings of the Board of Directors and Management Committee it was decided to automate accessing materials and enable conducting meetings remotely.
The automation project was contracted to BoardMaps because of its substantial experience in implementing such projects.
The BoardMaps system is a unique patented IT-solution developed specifically for automating corporate management processes. Flexibiliy from a large number of customizable settings ensure that all nuances of existing corporate processes are taken into consideration, so that the system meets the demands of board members as well as corporate secretaries.
One more reason for choosing BoardMaps is that the product implementation –customizing according to the structure of the Board of Directors and Management Committee, user training and acceptance testing – takes less than a month.
Since September 2015, PJSC «T PLUS» has employed BoardMaps for organizing and conducting meetings of the Board of Directors and Management Committee. Implementation was completed by the target date and took less than a month from the signing of the contract.
The most demanded functionality of the system included:
- Offline access to the up-to-date meeting materials regardless of the actual location – at home or while travelling;
- Multilanguage support – the interface and materials duplicated in English ensure comfortable work for internation independent directors;
- Ability to vote remotely and in absentia saveing meeting participant time.
JSB ‘Almazergienbank’ lacked a common information space for organizing and conducting meetings. This resulted in a number of problems, including the inability to quickly find documents relevant to a particular meeting or a matter and a delay in preparing and approving meeting agendas and minutes. Feedback, comments, questions and answers were sent directly to the person in charge of a particular matter, and other concerned employees had no access to them.
After a thorough analysis of various software solutions, the decision was made in favor of the BoardMaps system.
Implementation of the software was conducted in several stages. At the very beginning a proof of concept implementation of the product was built based on real data provided by ‘Almazergienbank’. This allowed pre-configuring system settings that would take into account the specifics of all existing business processes.
At the second stage the BoardMaps team together with ‘Almazergienbank’ employees deployed a BoardMaps server in the internal network. They also created a separate protected database, set up a document repository, and integrated it with the existing IT-infrastructure of the company.
The project was concluded with a hands-on training session, where employees learned to use the system in real time. It was conducted separately for three target groups – members of collegial bodies, IT-specialists and executive assistants.
The implementation of the BoardMaps system brought about significant changes in the process of organizing leadership meetings. It has practically eliminated e-mailed meeting communications – now all information, including various materials, meetings agenda, a list of speakers, etc. are stored in a mobile BoardMaps e-portfolio. Any authorized BoardMaps user can easily find a required document, confirm the timing of a meeting and check the latest resolutions adopted.
Members of the Board and executive teams can track preparation of documents, meetings, agendas and action items. They can also exchange commentaries cirectly within the system.
BoardMaps offers an additional benefit by allowing a matter to be considered by multiple committees and management bodies. This is especially helpful in the banking sector, where a loan application, for example, is to be evaluated by multiple committees.