Independent study highlights time savings, enhanced security and cost reduction as key benefits when switching to Diligent from other board management solutions
New York, NY, August 18 - Diligent, the global leader in modern governance providing SaaS solutions across governance, risk, compliance, audit and ESG, today revealed a nearly $190,000 three-year benefit value from Diligent Board & Leadership Collaboration solution. The findings, based on interviews with representatives in organizations that switched to Diligent from another board management solution, were reported in a new Total Economic Impact™ of Diligent Board & Leadership Collaboration commissioned study, conducted by Forrester Consulting on behalf of Diligent.
The study also revealed that Diligent Board & Leadership Collaboration reduced the risk of confidential material loss, saved their organizations time creating and sharing board and committee materials, and supported better decision-making. Key findings of the Total Economic Impact™ study include:
- 50 – 60% time savings for board and committee material creation, leading to more than $62,000 in time savings over three years.
- More than 1,600 hours saved creating and distributing materials and over 620 hours saved by internal IT support over three years.
- Reduced risk of a breach through lost materials or compromised accounts, totaling nearly $21,000 in savings over three years.
“In today’s quickly evolving risk climate, business leaders need the ability to access, share, and discuss confidential information quickly and securely for improved, faster decision making,” said Dan Zitting, Chief Product and Strategy Officer at Diligent. “This new study highlights that, when switching to Diligent from other board management solutions, Diligent Board & Leadership Collaboration leads to improved security and risk avoidance, significant time savings and more nimble and resilient governance practices.”
Diligent’s Board & Leadership Collaboration solution equips business leaders and the governance professionals supporting them with everything they need to drive digitization and operational excellence for board, committee, and executive meetings. Directors and executives leverage real-time communication, secure collaboration, governance approval workflows and intelligence to power smart decisions.
“[Diligent Board & Leadership Collaboration] allows us to communicate efficiently, accurately, and quickly with our directors and executives, and it’s the only product that has been able to meet all of those needs,” said a corporate governance paralegal in the utilities industry interviewed for the study.
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed five representatives at four organizations with experience using Diligent Board & Leadership Collaboration. For the purposes of this study, Forrester aggregated the interviewees’ experiences and combined the results into a single composite organization. The composite previously used an alternate third-party board management software.
To view the full findings of the study, visit: https://www.diligent.com/landing/solutions/board-leadership-collaboration-forrester-tei/
Diligent is the global leader in modern governance, providing SaaS solutions across governance, risk, compliance, audit and ESG. Serving more than 1 million users from over 25,000 customers around the world, we empower transformational leaders with software, insights and confidence to drive greater impact and lead with purpose. Learn more at diligent.com.
Senior Communications Manager, Diligent