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95% believe board management solutions are worth the expense

95% believe board management solutions are worth the expense

Boardroom

In one of its recent Monthly Metrics surveys, respondent members of the Corporate Legal Operations Consortium advocated strongly for board management solutions as making professional life easier.

CLOC published results of a survey late last year, which 105 of its members responded to, outlining that 95 per cent of legal operations professionals believe a board management solution is worth the expense and 70 per cent believe their board management solution makes their board members’ job easier.

Further, one in two respondents said they were very satisfied or satisfied with their board management solution features.

Board books were the most-recommended feature from respondents as a board management solution, with 80 per cent saying they would advocate for it, followed by ease of use (approximately 70 per cent), managing approvals for resolutions (approximately 40 per cent) and security (approximately 37 per cent).

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In evaluating the customer service provided by board management solution providers, almost 36 per cent said they were highly satisfied and the same number expressed moderate satisfaction. Only 11 per cent said they had low levels of or little satisfaction in the customer service provided by the board management solution provider.

On the topic of ease of implementation, nearly 70 per cent of legal operations professionals said getting a board management solution underway was very easy or fairly easy, with less than four per cent saying it was difficult.

The 105 CLOC responding members came from a broad range of industries, including but not limited to technology, financial services, biotech and pharma, consumer goods, energy, health care and insurance.

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