At the intersection of technology and governance, Finance & Invest Brussels (FIB), a vital financial institution in Brussels, has implemented the Govrn platform to enhance the efficiency of their operations. Pierre Hermant, CEO of FIB, provides insight into how Govrn has become a crucial tool in the organisation’s governance framework, making it a standard bearer for effective management in the financial industry.
Video Case Study
Who are Finance & Invest Brussels?
finance&invest brussels are a regional public institution that has been going since 1984. They support businesses in the Brussels Region by providing the funding they need to grow by offering financial assistance to start-ups, scale-ups, and SMEs through a range of financial instruments. Over the past five years, they have invested nearly €417 million in 2,100 companies.
Their approach includes injecting venture capital through equity participation, subordinated debts, and convertible loans, as well as implementing a fund-of-funds policy.
“Our hybrid shareholding composed of private and public partners allows us to invest efficiently. We have several governance bodies and subsidiaries generating a multitude of documents to prepare for our meetings including analytical reports on the companies we invest in.” - Pierre Hermant
Financial companies operating under strict regulatory frameworks rely on Govrn to ensure robust compliance and governance. With our secure privacy settings, all documents and files are protected and tracked, eliminating the need for endless searches across multiple devices. Govrn provides a single, reliable source of truth for company data.
“The G in ESG reminds us of the importance of governance. Europe emphasises the need for companies to comply with governance standards and to plan for improvements.” - Pierre Hermant
What Challenges Did They Face?
They previously managed their board documentation through SharePoint but faced several challenges due to the diverse nature of their board. Members came from various backgrounds and companies, both public and private sectors, making it difficult to manage sharing and access rights. Some used personal email addresses while others used company email addresses. They needed a more effective way to unify.
Complex document management 📊
The complexity of FIB’s operations involves numerous governance bodies and subsidiaries, each producing extensive documentation. This array of paperwork, from detailed company analyses to reports for board meetings, posed significant challenges in terms of accessibility and management.
Efficiency and collaboration 🤝
Collaboration is difficult when only a handful of people have access to the important documents. Board portal tools streamline collaboration by centralising documents and communication. Members can share, review, comment, and annotate in real time. Features like e-signatures, task management, and automated notifications keep everyone on track, and vote and poll allows you to gather opinions on each agenda point.
Compliance and governance 🏢
We've ensured that the company's board activities comply with all regulatory requirements, such as all documents kept in a secure centralised place, advanced security features, automating compliance checks, enabling real-time updates, and facilitating efficient decision-making and reporting, ensuring adherence to regulatory standards and improving operational efficiency.
How Did Govrn Solve These Challenges?
Our features are built around the three pillars of: having more effective meetings with features like document annotation and vote and poll, gaining insight from the meetings and data and stronger governance through features like eSignature and role management.
Centralised document management 📄
Govrn has provided a robust solution by centralising the storage and access of all governance-related documents. This accessibility ensures that all board members can efficiently prepare for meetings and access historical data as needed.
“Govrn has simplified our document management tremendously, making our meeting preparations more efficient and allowing our board to focus on decision-making rather than document handling,” says Hermant.
Govrn provided a unified platform for all documents, ensuring easy access and secure storage, simplifying the management of complex files.
Tools for enhanced collaboration
Govrn has tools like Task Manager, Roles Management, eSignature, Private Chat, Vote and Poll and more, which are designed to better help boards collaborate before, during and after meetings and to ensure the right points are debated and decisions made.
Boosting Efficiency and Compliance
Govrn has not only streamlined document access but also improved collaboration among board members, leading to more productive and focused discussions. Moreover, it supports FIB’s compliance with rigorous European governance standards, reinforcing the importance of transparency and accountability in corporate governance.
With Europe emphasising strong governance practices, Govrn is instrumental in ensuring we meet these standards while enhancing our operational efficiency,
He highlights how the platform facilitates an effective exchange of information, which is vital for informed decision-making.
Why They Recommend Govrn
Hermant advocates for Govrn, citing its simplicity, effectiveness in improving governance and exchanging of information.
“We recommend Govrn because it’s a simple and effective tool that facilitates the work of administrators and their collaboration. It helps with transparency, the exchange of accurate information and when you have the right information, you can make the right decision and above all, have the right debates.” - Pierre Herman
Conclusion
As FIB continues to lead in providing financial solutions, Govrn remains a key component of their success. “Adopting Govrn has been a transformative step for us, aligning our governance practices with the highest standards and making our operations more transparent and efficient,” Hermant concludes.
For organisations facing similar governance challenges, Govrn offers a solution that not only meets but exceeds the requirements for effective management and compliance, proving indispensable in the modern corporate landscape.
See Govrn in Action
To try out Govrn for yourself and to learn more about how we can help you, book a demo below:
