The IQ Business Group (IQBG) today announced another industry first for its solutions designed to improve the governance of Superannuation Trustee Boards. Local Government Super (LGS) is the first client to implement IQBG’s Trustee Office Solution, iqBoard, from the consultancy’s recently launched onshore cloud computing environment, iqCloud. The implementation will provide LGS Board members with access to Board packs and wider company information for the first time from the iPad platform. IQBG will remotely manage each device to address security and data privacy, remotely disabling the device in the event of theft or loss.
The iqBoard solution entirely replaces the traditional paper-based Board documentation for the LGS Board and sub-committee members. With the introduction of the iPad mobile device and Microsoft SharePoint collaboration platform, Board members can review Board information, wider company data and work together prior to each Board or sub-committee meeting.
For Peter Lambert, CEO for Local Government Super the move to IQBG’s governance and cloud solutions was the result of a review of corporate efficiencies and core values. “The administration of Board meetings and its communication materials is extremely challenging. The hard copy preparation of Board packs is time consuming, as well as very paper and energy intensive. This methodology is certainly out of step with our core focus on sustainability. iqBoard is the first legitimate option from a business perspective that was able to address these issues and actually solve them,” he said.
LGS assessed the iqBoard solution and completed a cost benefit analysis to justify moving away from a paper-based system to an online model in the cloud. Its analysis outlined that the solution had a justifiable return on investment for both its Board and sub-committee meetings.
“In effect we jumped two decades of technology with what we view as a successful governance implementation for our Board members. iqBoard is more secure than paper-based folders, more timely and I personally believe the standard that all Boards will adopt within the next five years. We are even investigating incorporating the iPad and its faster and easier access to company data to other areas of the organisation, especially our financial planner and relationship manager networks.”
LGS implemented an end-to-end Trustee governance solution from IQBG over a six week period. IQBG provides the iPads, telecommunications facilities, customer support and help desk, the iqBoard solution and iqCloud data centre facilities in Sydney and Melbourne for its long term client.
Developed with the support of the Australian Institute of Superannuation Trustees, iqBoard automates the governance requirements for Superannuation Trustee Boards. It assists with the preparation of Board documentation, the recording of Board meeting items and tasks and tracks the items allocated to Board individuals. Via a personalised dashboard, each Board member can track tasks, review calendaring updates and securely access Board and Sub-Committee documentation.
“This is the second implementation of iqBoard and one that is a true end-to-end solution for Board governance. It not only caters for an immediate streamlining of communications, it can enable further improvements in the future for items such as reporting and flexibly respond to business needs,” said Graham Sammells, CEO for IQBG.
The IQ Business Group
Founded in 1998, The IQ Business Group (IQBG) is a worldwide provider of comprehensive business solutions and the technologies that enable them. IQBG focuses on helping clients improve operational and technological efficiency and reducing operational risk. Today in Australia, the company employs over 80 specialist consultants with major offices in Melbourne and Sydney. It offers four practice lines – Operations, Technology, Risk and Microsoft Solutions.
Cathryn van der Walt
Local Government Super
Local Government Super (LGS) is recognised as an industry leader in responsible investment and the management of environmental, social and governance (ESG) risks and opportunities across its investment portfolio.
LGS manages approximately $6 billion in superannuation assets for around 100,000 members, including 60,000 employees working for local government or related employers throughout NSW and 40,000 former local government employees. It has approximately $3.1bn invested in responsible investment strategies across Australian shares, international shares, property, and the absolute return and private equity asset classes.
LGS is a signatory to the United Nations Principles of Responsible Investment and a member of the Investor Group on Climate Change, Australian Council of Superannuation Investors, the Responsible Investment Association of Australasia and the Global Real Estate Sustainability Benchmark. LGS is also a shareholder in Australian ESG research and engagement firm Regnan.