Is it time to rebrand a critical business function?

What comes to mind when you hear the term "Company Secretarial" or "CoSec"? For those in the know, Company Secretarial (CoSec) is synonymous with highly qualified professionals who bring real value to the governance of an organisation and Board dynamic. However, for others, the CoSec title may conjure up outdated images of meeting organisers and minute takers – albeit a part of the Company Secretariat, the perception of this as the sole function of the role feels like it belongs to a different era.

Today, legal entity management and governance professionals, (AKA modern CoSecs) are at the forefront of a quiet revolution in the business world. With dedication and determination, the CoSec community is gaining recognition for its vital role in helping organisations navigate the intricate maze of global business regulation. They support key transactions internationally and ensure seamless operations across borders, all the while, adapting to the evolving demands of a fast-paced and complex business landscape.

The important role of CoSecs

Great CoSecs are essential for keeping domestic and multinational businesses running smoothly. They ensure compliance with calm confidence, expertly managing complex entity portfolios very often across various jurisdictions whilst meticulously handling due diligence and governance requirements. This advanced level of detail is critical to an organisation’s success.

These professionals work closely with the world’s most senior executives, so whilst their responsibilities may sometimes seem administrative, they can carry extremely high stakes. Every note, footnote, and figure can end up on the public record, and even a minor error can lead to major repercussions.

CoSecs tackle these challenges head-on as part of their daily routine, demonstrating diligence and control. However, it’s not uncommon for them to outsource certain functions to trusted experts, particularly in areas where in-house resources are limited. Outsourcing can take care of repetitive tasks, allowing CoSecs to focus on more strategic initiatives that drive the business forward.

The risks of outsourcing

In a world where reputation and risk often go hand in hand, outsourcing can be a tricky business. CoSecs need to be strategic about choosing partners who bring the right expertise, a mix of global knowledge, local insight, and solid tech skills. This thoughtful selection is crucial for building the infrastructure and safety nets that ensure effective governance and smooth operations.

Modern CoSecs frequently view outsourcing and technology as valuable tools for enhancing their organisations. However, carving out the time and space to focus on higher-level tasks can be a real challenge. Even though entity management and governance are essential support functions, they’re often seen as cost centres rather than profit generators. This perception can make it difficult to secure the investment needed to explore innovative approaches and drive progress.

How Vistra can help

This is where we can play a strong and supporting role. Our team is dedicated to helping clients build compelling business cases for tech-driven CoSec transformations. With our global reach and local expertise, we provide the kind of comprehensive support that CoSecs dream of. We’re also rolling out a technology platform specifically designed to streamline the day-to-day management of governance tasks, making them easier and more efficient.

Our CoSec solutions are led by professionals who have been in the role themselves. They truly understand the challenges CoSecs face and have the insights needed to help them drive progress in today’s business environment.

Conclusion

In short, it’s time to rethink the critical function of Company Secretarial. The future of CoSec is far more than corporate admin support; they are key players in driving organisational success and navigating the complexities of today’s business landscape. With the right support and technology, they can continue to lead this quiet revolution making an impressive and invaluable impact.

Want to find out more about our Company Secretarial solutions?

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