Compliance starts with well documented and organised decisions

We all know that creating a well-performing company depends on many things, but not at least on high-quality strategic steering. That is why the general assembly's appointment of a strong board and the board's appointment of a competent CEO is a cornerstone of running a successful businesses. Of course, this depends most of all on human ingenuity and competency. Still, we believe technology can support this brainpower-heavy process in a significant way. 21st is such a technology. Collaboration, learning, and effective decision-making require well-documented processes, outcomes, and division of responsibilities. Well-documented processes are also the backbone of a compliant business operation. 21st helps to become compliant.

With 21st process-oriented tooling, the documentation is unified in one place in a BEFORE-DURING-AFTER main flow. 21st supports everything from the "who and when" for major decision events to assembling agendas for meetings and decision that needs to be taken and all the way to recording the outcomes and verifying these outcomes and signing them as formal protocols when needed. As part of the 21st app, access management to the documentation is managed in a compliant and effective way, where you can invite the various stakeholders to see and partake in the decision-making processes they should be part of.

This is compliance in practice.

The registers

The unification and control of the decision-making process begins with a transparent, complete register of people and entities authorized to make decisions. In 21st, the 'Team' and 'Shareholders' tabs are responsible for this part.

The first shows aggregated data about all people constituting the company's management team. This also includes data of the people who, although they cannot make decisions, provide an advisory or expert voice, thus improving the decision-making process. They are assigned the 'Observer' function. Everyone on this list automatically receives an invitation to every meeting they should partake in.

In turn, in the 'Shareholders' tab - as the name suggests - you have grouped people and companies that are shareholders of your organization. A clear table shows the primary data of the shareholder (in the case of an institution, also the person who represents it), as well as the number of shares and votes he has. 21st makes sure that these numbers add up to the values entered in the company's cap table and informs about any discrepancies, to avoid that any undesirable formal errors will appear as a result of an ordinary human error.

As in the case of 'Team', entities gathered in the shareholders' tab automatically receive an invitation to the shareholders' assembly, so also here, 21st helps to avoid losing oversight.

Decision-making process

Also, the direct decision-making stage is supported by the 21st. This function is implemented both by proposing the agenda of the meeting (a wide selection of easily adaptable templates) and by detailed documentation of the entire process. The latter includes both the storage of documents related to a given meeting (reports, presentations, and like) and the minutes created during the meeting. In the 21st, we emphasize easy and compliant access to company documentation. To read it, you do not have to leave the context of the application - the documents are stored in one place available to interested parties. Additionally, they are grouped in the context of each meeting they apply.

Naturally, this does not mean any compromises on security issues. All documents are stored on the integrated, protected cloud drive, so there is no risk of their loss or access by unauthorized persons.

It is worth noting that the 21st also ensures that the formal requirements for signing the meeting minutes are met. This action is performed by everyone obliged to it within the application - so you do not have to change the context and log in to another application. This applies to both the identity verification stage and the protocol's acceptance.

Access management

Access management is broader than meeting documentation. Making resources available to the right people directly related to their areas of responsibility is the foundation on which 21st is built. But this is not about compulsive prohibition. The guiding principle of the 21st is to make work easier - and this also means that the user does not have to spend time figuring out which documents apply to his work and which do not.

Supporting the decision-making process and improving its quality by reducing clutter and repetitive activities are fundamentals that are supported by the 21st. We solve compliance challenges in practice, giving you a set of tools to help you make good decisions effectively.