Mining company Kazakhmys, which is headquartered in London, has saved time and money in preparing for board meetings through the use of iPads and Diligent software.
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The FTSE listed company, which operates mines mainly in Kazakhstan, began looking for an alternative way of creating and distributing board papers in 2011. Traditionally, about 14 packs of 150 pages were sent to board members to read before a meeting.
Robert Welch, company secretary at Kazakhmys, said the 150-page documents would have to be carefully put together, bound and delivered to board members. This was time consuming, costly and had inherent risks.
“There is a cost in paper and printing, as well as couriering them to different parts of the world, and there is always a risk that some members might miss a page,” said Welch. “It was also difficult to ensure that the papers arrived in the right place at the right time for board members to receive them.”
In 2011, the company started looking at its options for providing the papers digitally.
Read more on iPads for business
After testing the market, Kazakhmys chose Diligent Boardbooks to provide board members with a direct link to the latest version of board papers via an iPad, which links directly to the servers the data sits on.
Welch said the iPad came first: “A lot of our directors were using iPads and liked doing this. That led us into looking at what we could do digitally via the iPad.”
Board members always have the most recent version of papers and security is improved due to a reduced threat of lost documents. Distributing them is easier because the files do not have to be carried around. Because many board members are on multiple boards, this is important.
The original agreement was for 15 users and two administrators – there are now 23 users and two admin staff.
Diligent was a web design company in 2001, but when it was asked by a client to create a system that makes it easier to produce and deliver board papers, it helped create a cloud-based service.