If technology can help, why aren’t things getting easier? A look into technology integration and optimisation challenges

It’s 2022. Digital transformation has taken shape across nearly every aspect of your professional life and has changed the way your company does business. The integration of digital transformation empowers companies across the globe to operate faster and deliver better value to their clients. Your company operations are more efficient using innovative technology. But, when it comes to your global entity management, if you are struggling to implement and optimise technology, you’re not alone.

In fact, many companies around the world have raised challenges associated with the use of technology in global entity management. When asking companies what their key concerns are regarding their legal entity management database, our independent research concluded the top concerns as below:

  • 14% reported integrity of corporate data
  • 21% reported an inability to obtain appropriate analytics and reporting
  • 22% reported insufficient access to information and insights to navigate ever-changing global compliance and governance requirements
  • 36% reported a lack of process workflows and automation

Global entity management and governance have become more complex with more to do, fewer resources and less money. Operational deficiencies and the importance of technology have been noticeably exposed due to the pandemic. Conventional ways of working became nearly extinct, and collaboration between teams more difficult, leading to issues with data and processes. While the pandemic has brought this to light, the greater challenge is understanding why companies are still having issues. The technology to support global entity management is available in the market. So why aren’t things getting better?

There are several factors to consider, centring around people, processes, and technology:

  • Do you have the knowledge, skills and proper resourcing approach to support your entity management technology?
  • Are you facing budgetary, time or resource constraints limiting your ability to integrate technology or maximise its potential?
  • Do you have robust processes in place to manage your technology and quality of data?
  • Have you considered all solutions available to support your global entity management activities and possible benefits for your business?

The right technology coupled with the right partner can result in capabilities and value far beyond the challenges holding you back. In fact, the right technology can deliver:

  • A single source of truth housing everything entity related in one place, on one platform.
  • Efficient workflow management saving time and reducing risk.
  • Data and insights to navigate changing governance and compliance requirements and keep entities in good standing.
  • Automated data analytics and visualisation to offer intel and insights to aid management.
  • Integrated service solutions to support entity management activities, provide comfort that entities are compliant, and data is accurate.

With the right global entity management technology and partner, you gain control of your governance at a global level while freeing up resources and adding value to your organisation and its stakeholders.

You can be confident your entities are compliant with an enhanced governance framework for managing risk and providing improved data and intelligence to support your business.

Join Computershare at Governance 2022 on 5-6 July 2022 for their breakout sessions: Getting your subsidiary governance framework right on Day 1 at 12:00pm, and The increasing impact of Shareholder Activism on Day 2 at 12:10pm.

We encourage you to share your experiences by completing this quick survey before attending.

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