'The iqBoard solution entirely replaces the traditional paper-based Board documentation for the LGS Board and sub-committee members. With the introduction of the iPad mobile device and Microsoft SharePoint collaboration platform, Board members can review board information, wider company data and work together prior to each board or sub-committee meeting.'
LGS CEO, Peter Lambert, said the move to IQBG's governance and cloud solutions was the result of a review of corporate efficiencies and core values. 'The administration of Board meetings and its communication materials is extremely challenging. The hard copy preparation of Board packs is time consuming, as well as very paper and energy intensive. This methodology is certainly out of step with our core focus on sustainability. iqBoard is the first legitimate option from a business perspective that was able to address these issues and actually solve them.'
Lambert said LGS assessed the iqBoard solution and completed a cost benefit analysis to justify moving away from a paper-based system to an online model in the cloud, and its analysis outlined that the solution had a justifiable return on investment for both its board and sub-committee meetings.
'In effect we jumped two decades of technology with what we view as a successful governance implementation for our Board members. iqBoard is more secure than paper-based folders, more timely and I personally believe the standard that all Boards will adopt within the next five years. We are even investigating incorporating the iPad and its faster and easier access to company data to other areas of the organisation, especially our financial planner and relationship manager networks.'
LGS implemented the end-to-end Trustee governance solution from IQBG over a six week period, with IQBG providing the iPads, telecommunications facilities, customer support and help desk, the iqBoard solution and iqCloud data centre facilities in Sydney and Melbourne for its long term client.
Graham Sammells says the solutions were developed with the support of the Australian Institute of Superannuation Trustees, with iqBoard automating the governance requirements for superannuation trustee boards, and assisting with the preparation of board documentation, the recording of board meeting items and tasks and tracks the items allocated to board individuals. Via a personalised dashboard, each Board member can track tasks, review calendaring updates and securely access Board and Sub-Committee documentation.
'This is the second implementation of iqBoard and one that is a true end-to-end solution for Board governance. It not only caters for an immediate streamlining of communications, it can enable further improvements in the future for items such as reporting and flexibly respond to business needs,' Sammells said.