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The Victorian Managed Insurance Authority (VMIA) is a Statutory Authority and an insurer for government departments and agencies.
Established in 1996, VMIA provides services to more than 4,500 clients including all Victorian Government departments, statutory authorities and agencies.
Enhancing productivity in the boardroom
VMIA holds 22 board and committee meetings per year, producing up to 18 board packs for each meeting, typically taking one to two days to compile. VMIA have estimated courier costs for board packs were approximately AUD$4,800 and a further AUD$2,500 was spent on printing, per annum. VMIA wanted to find a product that; is easy to use for both administrators and directors, reduces the administrators’ workload, is highly secure, and provides high quality support.
After evaluating a number of products, VMIA chose BoardPad, based on positive testimonials from other users and backed by a demonstration. They found the staff knowledgeable and passionate about the product, as well as being willing to address any questions or concerns they had about using the board portal software. VMIA’s main concern was regarding the security of the application and how sensitive information would be handled.
The BoardPad Support Team worked with VMIA to ensure the BoardPad app complied with VMIA’s security measures. By implementing BoardPad, VMIA have saved an average of AUD$7,300 per annum on the production and delivery of board packs.
From a board member’s perspective
With the support of the Chairman and CEO, who initially reviewed the app before implementation, BoardPad was well-received by the rest of the board. Directors found the product intuitive, easy to use, with great features such as bookmarking and the annotation tools. Kerry Power, Information Systems & Security Manager explains, “the biggest change directors have enjoyed is not having to carry around weighty hard copy meeting packs, and they can easily access their board papers, regardless of their location. With BoardPad, directors have easy access to a wealth of reports and documents that are stored in the Reading Room”.
From a board administration perspective
Since implementing BoardPad, VMIA have saved approximately one and a half days in administration time. The company have stopped collating and printing of board packs, in addition to the two to four hours saved in checking the agenda and documentation.
“We are delighted that any last minute changes to documents and agendas can be easily accommodated and published instantly. With BoardPad we can add and publish new agenda items to an existing meeting with ease. Prior to the implementation of BoardPad, the production of board packs was a time-consuming and arduous task that put pressure on administrators”, says Dana Argyropoulos, Corporate Secretary.
The transition VMIA have made from traditional paper board packs to using a digital boardroom technology has been a success. BoardPad has taken the pressure and stress off the administration team to produce board packs in a timely and efficient manner. Since the implementation of BoardPad, board members now access board papers in a timely manner with ease.
By implementing BoardPad, VMIA saved an average of AUD$7,300 per annum on the production and delivery of board packs.