Digitally evolving Trustee Boards

We engaged in a unique opportunity to extend our services to an existing client running a defined benefit pension scheme. The scheme, known for its complexity and numerous sub-committees, operated traditionally, leading to inefficiencies and complexities.

The client’s trustee board was managing a slow and complex process of distributing papers, decisions, and risk logs from various advisers. Often, information arrived late and lacked historical context for the meetings or meeting packs, making meetings inefficient and difficult to manage. These inefficiencies created significant bottlenecks in the decision-making and risk management processes.

Working with the Chair, we identified the inherent inefficiencies in their existing process and recommended introducing a comprehensive board portal. This digital solution – a secure, paperless software – facilitated communication with board members, shared documents, annotated meeting minutes, and more. We fully digitised their meeting cycle process using this solution, ensuring support across each cycle of board activity.

Our implementation of the board portal yielded significant process improvements. We completely eliminated the cumbersome paper trail, reduced meeting preparation efforts by 30%, and significantly improved the overall effectiveness of meetings. The time required to onboard new Trustees also saw a substantial reduction. The client found that the meetings became easier to manage and more flexible, with the added ability to support hybrid and remote meetings. By consolidating interactions and information sharing through a single portal, we also improved security and reduced data and cybersecurity risks.