Paperless initiatives have resulted in more efficient meetings for a variety of sectors while cutting costs and promoting more interactive collaboration on documents.
Bank Systems & Technology reported that The Bank of New Hampshire is one financial institution that has realized the benefits to business process automation by deploying a web-based portal of digital documents that are available during board meetings. The new system has allowed board members to quickly create digital PDF files that are accessible through the online portal and eliminated the burden of carrying paper books. As a result, the bank has saved significant costs from a reduced dependency on paper resources and relieved staff of assembling documentation in preparation for these meetings. Mike Muzzey, the bank’s executive vice president and CIO, told the news source that digitization has saved the bank one to twelve days’ worth of labor per month by eliminating the need for manual entry, filing and shredding.
In addition to time savings, The Bank of New Hampshire has found the electronic document management system offers heightened protection. Jeff Hilk, Diligent Boardbooks’ director of client services, explained that the bank’s sensitive information is more secure in an electronic format as there is less risk of an executive losing the physical files and all digital copies are highly encrypted. The online portal offers permission-based privacy settings and is password protected to ensure that only authorized individuals have access to these documents. Additionally, executives can only see minutes pertaining to relevant meetings.
Improved interaction and information sharing
The digital solution also allows for hyper-linked text and the incorporation of PowerPoint presentations and Excel sheets for an enhanced collaborative experience in meetings. Attendees can easily add comments and notes or highlight information on these documents and share information with a single click. Additionally, digital storage allows executives to refer to the minutes of every past board meeting. Muzzey reported that there has been an immensely positive response to the digital transition.
“The directors love it, even the ones who aren’t so tech-savvy,” he stated. “They have access to so much more info at their convenience.”
Other boards are adopting paperless solutions, including the Williston city commission. The Williston Herald reported that commissioners, who previously had to manage over 400 pages of paperwork, can now scroll through documentation from an iPad at meetings. Commissioner Tate Cymbaluk told the source that digitization has made the commission more efficient by enabling staff to move more quickly through large volumes of information.
Electronic documents provide an opportunity for better information management and exchange, resulting in improved workflow and more productive meetings across every industry.
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