The digital transformation landscape is rapidly evolving and impacting organizations and boards on a global level. IDC estimated that global spending on digital transformation increased by 10.4% in 2020 to $1.3 trillion. Organizations and their boards need to adapt, innovate or be left behind. Meanwhile, a transformation is also happening in the boardroom, with board refreshment and diversity concerns fueling the change.
Today, modern governance is required for organizations to thrive and endure in the current fast-paced world. Simply defined, modern governance is the practice of empowering leaders with the technology, insights and processes to fuel good governance. However, finding, nominating and maintaining the right directors brings challenges. How can you overcome old approaches that are not suited for today? What are some best practices for nominating and onboarding new directors? What digital transformation tools can empower you to build the best boardroom for today and tomorrow?
This Diligent report identifies some current challenges to building a better boardroom, evolving trends and priorities, and implementing best practices, and makes the case for adopting modern governance tools.