Technology Should Play a Key Role in Corporate Governance
Teaming up with Pulse Technologies provides reliable IT services at a predictable monthly rate. Our consultants can directly assist in aligning corporate governance and IT resource management
“Technology now evolves in a cycle of months rather than years. New business models like streaming content and task-sharing and online platforms like Uber and Airbnb are disrupting ‘business as usual,’ as are highly public scandals related to cyber breaches, sexual misconduct, and beyond. Board members have more on their radar and on their plates, with activist investors and a demanding market and public leaving little tolerance for hesitation or error,” according to Governance in the Digital Age by Brian Stafford.
With so much at stake, businesses in SW Florida would do well to include technology issues and innovations as a core part of their corporate governance. Pulse Technologies consultants work closely with our clients to ensure technology decisions and priorities are in line with corporate objectives. Also, we can suggest technology solutions to help you achieve operational objectives.
How Can Technology Contribute to Corporate Governance?
There are four main ways technology impacts positive governance including:
- Improved information, transparency, and accountability.
- Greater public participation.
- More efficient delivery of goods and services.
Effective cybersecurity and IT infrastructure impact the company’s reputation, user privacy, and productivity. Aligning technology to corporate objectives requires technical expertise and familiarity with corporate culture. Pulse Technologies consultants foster best practices and support sound corporate governance.
What’s Corporate Governance?
Corporate governance or board governance describes the set of rules by which organizations with shareholders, management teams, stakeholders, and customers govern their operations responsibly. Effective government considers whether specific initiatives fit with the company’s short-term and long-term goals.
“Every company must now be considered a “tech company” [which] may have a profound impact on board composition. The impact of new technology trends (e.g., the mobile internet, connectivity, automation and artificial intelligence) is spreading across industry sectors. Effective governance will increasingly depend on the extent to which directors are technology-literate and are keeping pace with digital transformation,” according to a recent Forbes article.
The overarching principles of corporate governance incorporate:
- Social responsibility
Given its ability to transform operations and increase productivity, technology can play a huge role in the governance of successful corporations.
How Do Technology and Corporate Governance Interact?
An effective board ensures that all departments, including IT, understand their stake in achieving well-defined goals. Savvy board members may even request third-party expertise to bring in fresh ideas and an objective look at areas where technology challenges are impacting the organization’s growth.
Specifically, board governance focuses on:
- Company performance
- Connection between the board of directors and the CEO
- Transparency of leadership actions and behavior
- Managing corporate risk
- Ensuring compliance
- Assigning responsibilities to the management team and board members
- Financial reporting
Why You Should Contact Pulse Technologies Today?
Comprehensive corporate governance must extend to cybersecurity and effective use of IT infrastructure spend. In general, proper board governance shows an awareness of the connection between adopting effective technology that truly makes operations run more smoothly and has a measurable impact on the bottom line.
Teaming up with Pulse Technologies provides reliable IT services at a predictable monthly rate. Our consultants can directly assist in aligning corporate governance and IT resource management — something the board of directors, shareholders, employees and internal managers are sure to appreciate. Contact us today to schedule an initial consultation.