Corporate governance is the set of rules and relationships which ensure that a company is accountable to its shareholders, stakeholders and employees. Whatever size or industry, every company must have a solid system of governance in place to ensure a solid financial future and to build trust with investors and customers alike.

Good corporate governance lays out clear and transparent rules that align the interests of directors, shareholders, managers, and employees with the goals of the company’s strategy. It also promotes transparency and a commitment to responsible conduct by all stakeholder groups, including the community. This creates an ongoing strategy to achieve success and decreases the risk of waste, fraud, risks, and corruption.

Poor corporate governance can affect a company’s reliability, integrity and obligation to its investors and lead to scandals like Volkswagen’s infamous rigging of emissions tests. These types of scandals take away from a company’s image, and ultimately hurt its financial health.

Corporate governance software ensures that all stakeholders have access to accurate information that can help support the goals of the company. It also facilitates transparency, which is essential to fight fraud. For instance, board management software that conforms to the most recent security standards, protects files during storage and transmission, and performs an automatic purge feature for lost devices, keeps confidential data secure, even on mobile devices.