Redesigning Board reporting to satisfy modern good governance offers significant benefits:
1. Outcome Over Activity: GovernRight helps to build a culture of outcome over activity. Progress on key projects is reported in the context of the strategic pillars they aim to further. This encourages the Board to focus on its obligation to allocate resources to deliver the strategic plan.
2. Positive Assurance: There is growing expectation on Boards to seek positive assurance of adherence to critical policies, from within the business. With GovernRight, Board papers identify key policies against both strategic pillars and governance risks, allowing for management’s assurance of compliance with such policies.
3. Alignment of Reporting: The cost of reporting can be substantial, especially for large or multi-faceted organisations. Redesigning Board papers with GovernRight aims to result in better alignment from project owners, management, committees and the Board itself, with resultant opportunities for savings.
4. Support for Oversight Role: GovernRight encourages a forward-looking perspective. Its integrated reporting supports the Board to meet its key role to oversee:
o Growth – implementation of strategy and performance;
o Change – monitoring and management of significant changing and emerging risks and opportunities;
o Risk – identification, mitigation, management and positive assurance of identified risks;
o Resource Deployment – risk/return ratio.
5. Performance Drivers: GovernRight encourages a system of clear, precise KPIs to demonstrate that today and tomorrow are under control, allowing the Board to focus on next month and next year.
GovernRight - Make Governance Work™