It is essential that digital transformation is led by one of the Board Members and regularly discussed with all members.
The digitalization of processes (end-to-end) and information is key. Cultural change is a prerequisite and has to be initiated along with the digitalization program. The benefits of digitization can only be achieved if it is accompanied by a program that guides employees on their way. Acceptance at all levels is required.
The speed with which information is processed today and decisions have to be made is getting faster and faster. It is becoming more and more important to have correct data and information quickly available in order to make the right decisions. Risk functions must provide forward-looking and timely information. It is no longer enough to rely on power point or excel sheets.
As a member of the Board of Directors, you define the organizational structure and processes (procedures) of the company. For this reason, the topics of digitization, information security and regulatory requirements are located at your level.