The central challenge facing Pan American involved the preparation and distributional limitations of paper. The secretariat of Pan American handled a calendar that stretched upwards of 12 meetings a year, demanding 156 individual board packs for the directors. This taxing effort was compounded by revisions and the time lost by needing to courier the board books to their directors. Tablet innovation had also made the directors keenly aware that they were missing out on advanced features that paper could never deliver. As a result, the Pan American board of directors included finding a board portal provider into their strategic plan.
Pan American Bank turned to Passageways’ OnBoard because it excelled at the strict criterion it sought: the solution had to be easy to use, secure, and cost efficient. With OnBoard, the hurdles imposed in creating and distributing board book were quickly swept away. Pan American’s corporate secretary effortlessly created, updated, and distribute paperless board books with just a few clicks of a mouse. Electronic delivery resulted in instantly updated revisions, saving time and money.
In the boardroom, OnBoard’s simple interface facilitated faster and more reliable access to critical documents. Directors were no longer bound by the limitations of paper, they searched through their one compiled board book with ease and drafted notes that couldn’t be lost. When they needed to recall an item from a previous meeting, it was right at their fingertips.
All the previous agenda items are stored on the app, making reference to previous archived meetings just a few taps away. Pan America’s busy directors now have the flexibility of when and where to review their board documents.
The results speak for themselves. Pan American bank secured a 20% return on investment by cutting out paper, printing, and binding: the result of reducing consumption by near 47,000 sheets of paper every year.
Randy Blackburn, Pan American’s Executive Vice President and Chief Operating Officer, told us “In the first meeting the directors just picked it up and started using it. Their expectation was that it would just work. They loved not having to use the paper; they loved having all the updated material ahead of time. What was most interesting of all, and this is how you know your technology works: you just pick it up without having to do anything and it just works.”
“The first meeting we had, the experience was not of that of a technology, the experience was a board meeting. Directors didn’t even realize that we didn’t have to put any effort into learning OnBoard, even administrators put very little effort into learning. We were just like Holy Cow, everybody’s already got their meeting set up. It just started happening.”
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