There are several point solutions for Risk and Compliance in the Governance, Risk, and Compliance sector, but Governance solutions receive little attention. Governance is the process of getting the correct information to the right people, such as executives, board members, and stakeholders, so they may ask the right questions and guide businesses in the proper direction.
Why Is It Necessary to Create a New Governance Solution Category?
Enterprise Governance Management (EGM) is a discipline that involves applying technological tools and resources to the complete spectrum of governance requirements in order to govern at the highest level and ensure long-term success and sustainability.
‘In essence, governance is leaders utilizing the correct information and controls to steer a company, which may be aided by technology,’ explains Brian Stafford, Diligent’s CEO. ‘Governance solutions enable board directors to aggregate information so that they may ask better questions, make better decisions, and better influence the future of the businesses they represent,’ says the company.
We acknowledge that our product offerings are part of a larger category called Governance, Risk, and Compliance (GRC). There are several integrated solutions in this category today that manage risk and compliance, but few that focus on governance. Where products are available, they are not designed to cover the entire range of governance duties and responsibilities.
Diligent is the only company that offers a complete governance management system.
Why did we build a new category of governance solutions? The simple explanation is that no one else was doing what we were doing. ‘The easiest approach for us to express our vision for Enterprise Governance Management was to provide boards the tools they needed and illustrate how we could build solutions to meet their demands over time,’ says CEO Brian Stafford.
In Board Governance Solutions, Diligent Led the Way
Diligent has made it a priority to listen to our clients and respond with practical answers since our inception in 2001. In the board portal space, our initial goal put us substantially ahead of our competition. As we work to deliver the greatest technology for leadership teams throughout the world, our goal has remained constant.
When our clients informed us they wanted something more than a board gateway, we jumped right in. They want even more digital tools, ones that could execute certain duties to make governance tasks easier and more efficient. Diligent did not disappoint once more. We realized that if a large number of our clients were requesting the same tools, there were likely many more who required them as well.
The Governance Industry’s Top Leader Is Diligent
Diligent now employs over 600 people, with around 100 of them working on product development. Diligent has raised its investment in product development by more than 150 percent, making research and development a major focus. In fact, we have consistently raised our yearly research and development spending, which is unrivaled by any competition.
Diligent’s solutions are used by over 400,000 board directors and executives in over 12,000 businesses. Diligent works with boards in over 90 countries. To put that in context, Diligent works with almost half of Fortune 1000 firms, seventy percent of FTSE 100 companies, and sixty-five percent of ASX companies.
What is the Governance Cloud?
Board directors are responsible for a wide range of duties and obligations. Diligent created a set of governance tools to assist them in carrying out their duties properly and effectively. As board members, executive teams.