No Result
View All Result
SUBSCRIBE | NO FEES, NO PAYWALLS
MANAGE MY SUBSCRIPTION
NEWSLETTER
Corporate Compliance Insights
  • Home
  • About
    • About CCI
    • CCI Magazine
    • Writing for CCI
    • Career Connection
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Explore Topics
    • See All Articles
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Well-Being at Work
    • Leadership and Career
    • Opinion
  • Vendor News
  • Library
    • Download Whitepapers & Reports
    • Download eBooks
    • New: Living Your Best Compliance Life by Mary Shirley
    • New: Ethics and Compliance for Humans by Adam Balfour
    • 2021: Raise Your Game, Not Your Voice by Lentini-Walker & Tschida
    • CCI Press & Compliance Bookshelf
  • Podcasts
    • Great Women in Compliance
    • Unless: The Podcast (Hemma Lomax)
  • Research
  • Webinars
  • Events
  • Subscribe
Jump to a Section
  • At the Office
    • Ethics
    • HR Compliance
    • Leadership & Career
    • Well-Being at Work
  • Compliance & Risk
    • Compliance
    • FCPA
    • Fraud
    • Risk
  • Finserv & Audit
    • Financial Services
    • Internal Audit
  • Governance
    • ESG
    • Getting Governance Right
  • Infosec
    • Cybersecurity
    • Data Privacy
  • Opinion
    • Adam Balfour
    • Jim DeLoach
    • Mary Shirley
    • Yan Tougas
No Result
View All Result
Corporate Compliance Insights
Home Governance

SaaS On the Rise in the Boardroom

by Brian Stafford
September 12, 2016
in Governance
Board portals could be key to better governance

Collaboration among a company’s board of directors is arguably one of the most critical functions within a public organization. So it may come as a surprise that the technology enabling more effective and secure board collaboration continues to fly under the radar – in fact, when I got my start in board governance, the space was filled with niche players. Today, as regulations become more stringent and industry leaders start to prepare for the needs of tomorrow’s boards, they are building out more comprehensive product suites by acquiring smaller players. As consolidation continues, the space will continue to heat up and the technology will become a must-have for enterprises and board members around the world. It’s about to get larger and louder.

For example, industry incumbents like Boardvantage and Thomson Reuters’ Boardlink have been acquired by Nasdaq and our own company, Diligent, respectively. Underscoring industry momentum, these acquisitions have caught Insight Venture Partners‘ attention, with the recent announcement of acquisition and privatization of Diligent.

For a once behind-the-scenes industry, an increasingly mobile board, looming cybersecurity dangers and the immense pressure to follow regulations and remain compliant are bringing board governance tools to the forefront. Here’s a look at how the industry has developed and how we predict it will grow.

The Rise of Board Portals and SaaS Technology

Historically, and for those who haven’t adopted a technology-based solution yet, board collaboration has been defined by heavy, paper-filled binders. With these materials, any last-minute edits would result in extra days of administrative overtime and delays for board members. As secure, mobile collaboration and productivity technology started to permeate the enterprise, the boardroom also began to demand the convenience of tools customized to meet their needs.

In the beginning, it was the widespread adoption of the iPad that catalyzed growth in board collaboration. Board members, eager to use their new gadgets, were already using their iPads for personal activities like reading and surfing the web, so the transition to reading and reviewing hefty board materials on the same platform was natural.

Having the materials on a digital platform also provided other benefits – added security, compliance and convenience. No longer would board books be forgotten at a hotel or on a plane or require a paper shredder to be securely disposed of. Digital user authentication, remote wipes and superior customer service all guaranteed a secure, high-quality experience. This peace of mind provides a sigh of relief for companies, especially as regulations tighten.

From a compliance benefits perspective, board members are now able to use their new tools to administer voting, access resource centers and securely archive books that limit compliance and legal risk. In addition, they were also able to run D&O surveys and conduct other board-related functions all from one central location.

Industry Outlook and Investment Trends

Since the initial boom of the iPad, adoption of board collaboration tools has grown exponentially, with over 90 percent of the Fortune 1000 using such a solution. Industry estimates suggest that over 300,000 board members and executives are consistently using a board portal. That said, most companies are still in the early to intermediate stages, wherein the technology is used on a meeting-to-meeting basis or during quarterly board meetings. Within the next decade, we will see the industry start to change in three main ways:

  1. There will be more dynamic use of collaboration technology, including live analytics. As board members are asked to be more active and make quicker decisions, they will need more information cut and viewed in multiple ways in order to get a full picture. Real-time analytics on collaboration preferences and even the board materials themselves will enable companies to make the best decisions possible. The technology will also allow for more governance and compliance monitoring, spurred by the need for more transparency, stricter government regulations and the broader GRC rationale to maintain security.
  2. Service will become even more important than the product itself as the move toward advanced and dynamic use of board technology accelerates. Board SaaS in particular is geared toward a very unique set of executives who won’t settle for a DIY or low-touch service model. This means that innovations in service and reliability – in addition to product – will determine who leads the industry. And as these tools become more integral to how a board functions, board members, compliance teams and corporate secretaries will need to partner with providers for expertise and guidance.
  3. As board responsibilities evolve, the sector will continue to grow in revenue and breadth of offerings. A trend we are seeing is that “compliance” or “GRC” is the newest line of business (LOB) being revolutionized by SaaS offerings. In the same way that sales and marketing organizations were turned upside down by companies like Salesforce and Marketo, a new breed of GRC SaaS companies will be reinventing this space by streamlining the board function within enterprises. With more security breaches and regulatory concerns on the horizon, the need for these tools will undoubtedly continue to grow.

The way boards work and collaborate is evolving. Decision-making needs to be faster and more secure. Pair this with the fact that board members sit outside of company firewalls and it’s a perfect storm. New solutions and processes will continue to be created to suit this exclusive segment that is now held accountable for much more than overseeing profit.


Tags: Data Governance
Previous Post

Lava Jato’s Judge Moro Speaks to Washington

Next Post

Ethics and Incentive Compensation: a Ticking Time Bomb

Brian Stafford

Brian Stafford

Brian Stafford is Chief Executive Officer of Diligent Corporation. Brian is responsible for all day-to-day operations, with a focus on accelerating global growth and incorporating scale into the business in order to seamlessly manage the growth. Brian previously served as a Partner at McKinsey & Company, where he founded and led their Software as a Service Practice. Prior to his tenure at McKinsey, Brian was the Founder, President and CEO of CarOrder, a division of Trilogy Software based in Austin, Texas. Aside from Diligent, Brian is also an active seed stage investor and startup advisor. His other passion lies in the arts, and he is supportive of the NYC community as a BAM board member.

Related Posts

doj building sign with flags

‘Reasonable Steps’: What the DOJ Expects From Your Bulk Data Transfer Compliance Program

by Alexandra P. Moylan, Alisa L. Chestler and Michael J. Halaiko
May 5, 2025

Sample provisions offer blueprint for compliant data brokerage with foreign entities

data security program concept cameras

Your Sensitive Data Is Now a National Security Matter: The DOJ’s New Data Security Program

by Randall Cook, Vince Mekles and Rachel Woloszynski
April 29, 2025

90-day implementation window closing on regulations affecting companies with genomic, biometric, health and other personal information

Electronic Evidence Collection for eDiscovery and Compliance

Electronic Evidence Collection for eDiscovery and Compliance

by Corporate Compliance Insights
March 30, 2025

Are you prepared to manage modern data sources in your compliance program? Whitepaper Electronic Evidence Collection for eDiscovery and Compliance...

examining data on laptop screen

Privacy Rights Surge Forces Rethink of Data Management

by Gal Ringel
March 14, 2025

As global privacy regulations multiply, organizations face mounting pressure to efficiently respond to data subject requests amid complex data environments

Next Post
richard bistrong's ethics and incnetive compensation time bomb article

Ethics and Incentive Compensation: a Ticking Time Bomb

No Result
View All Result

Privacy Policy | AI Policy

Founded in 2010, CCI is the web’s premier global independent news source for compliance, ethics, risk and information security. 

Got a news tip? Get in touch. Want a weekly round-up in your inbox? Sign up for free. No subscription fees, no paywalls. 

Follow Us

Browse Topics:

  • CCI Press
  • Compliance
  • Compliance Podcasts
  • Cybersecurity
  • Data Privacy
  • eBooks Published by CCI
  • Ethics
  • FCPA
  • Featured
  • Financial Services
  • Fraud
  • Governance
  • GRC Vendor News
  • HR Compliance
  • Internal Audit
  • Leadership and Career
  • On Demand Webinars
  • Opinion
  • Research
  • Resource Library
  • Risk
  • Uncategorized
  • Videos
  • Webinars
  • Well-Being
  • Whitepapers

© 2025 Corporate Compliance Insights

Welcome to CCI. This site uses cookies. Please click OK to accept. Privacy Policy
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
No Result
View All Result
  • Home
  • About
    • About CCI
    • CCI Magazine
    • Writing for CCI
    • Career Connection
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Explore Topics
    • See All Articles
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Well-Being at Work
    • Leadership and Career
    • Opinion
  • Vendor News
  • Library
    • Download Whitepapers & Reports
    • Download eBooks
    • New: Living Your Best Compliance Life by Mary Shirley
    • New: Ethics and Compliance for Humans by Adam Balfour
    • 2021: Raise Your Game, Not Your Voice by Lentini-Walker & Tschida
    • CCI Press & Compliance Bookshelf
  • Podcasts
    • Great Women in Compliance
    • Unless: The Podcast (Hemma Lomax)
  • Research
  • Webinars
  • Events
  • Subscribe

© 2025 Corporate Compliance Insights