Almost half (48%) of UK businesses still produce material for board-level meetings in printed form, according to new research by eShare.
The company behind BoardPacks, which moves meeting papers and company information online, claims that each of these companies annually prints an average of 6,200 pages purely for board meetings.
Its survey of 50 company secretaries reveals that the average board pack contains 96.7 pages. With the average company having 8.1 directors on the board and holding 7.9 board meetings each year, this works out at around 6,200 pages printed just for board packs.
Alister Esam, CEO of eShare, said: “It seems archaic that in this era of digital transformation so many organisations are still using paper to produce board packs. Not only are the printing and production of them a drain on resources, but paper board packs can easily be lost, are inefficient and do not make for transparency and good governance at board level.”
eShare’s research shows that the average board pack takes 9.5 hours to prepare and that material often has to be re-printed following changes; 26% of company secretaries report that board members often request changes to documents after they have been printed and distributed.
Esam added: “The exact printing cost of a board pack is dependent on a number of variable factors, but it is clear that the printing and production of more than 6,000 pages just for board packs is an unnecessary expense. It’s also a highly inefficient way of disseminating information. With digital board packs, it is much easier to keep content secure and private and board members have all the information they need before, during and after a meeting, and can access that information via their tablet or smartphone.”