The Covid19 pandemic has tested business resilience at all levels. Large firms have implemented contingency plans under difficult conditions, while smaller businesses have had to adapt rapidly or face severe consequences. Widespread lockdown is an unprecedented challenge, but it’s also an opportunity to adapt and grow. At the same time, it’s a chance for businesses to assess which legacy systems and processes simply aren’t fit for purpose anymore.
What needs to change
In an increasingly digital and remote-access work environment, clunky manual processes and insecure data platforms are no longer adequate to the task of coordinating high-level business functions.
Remote working can be inefficient and pose an unacceptable security risk, especially for firms working with sensitive financial information. ShareForce provides integrated systems that eliminate the risks and inefficiencies of managing share incentive schemes remotely, even for the most complex tasks.
But there’s another, no less important element: the human factor. ShareForce offers a human-centred digital software solution that ensures your employees work optimally, even under unusual, high-stress conditions.
Digital tools that serve human users
ShareForce’s specialist digital tools do more than solve abstract process issues. Just as importantly, they help motivate your staff, keep employees engaged, and ensure transparent and effective communication. Although Shareforce helps admin, finance and rewards teams facilitate share incentive schemes, the bigger picture is enhanced productivity for everyone.
Consider the complexities of coordinating spreadsheets and manually entering data and sharing documents. Not only is the process tedious, it’s opaque: no one can clearly keep track of what other members of the team are doing, and time and energy is wasted on administration and efforts to coordinate workflow. Isolated at home, employees will quickly lose interest and confidence in the overall process, becoming demoralised and demotivated.
Moreover, the process is insecure. Sharing passwords or access links via email or direct messaging is a recipe for human error or interception by nefarious actors.
Security is not the only regulatory concern: a lack of coordination and transparency means that it can be hard to monitor and enforce regulatory propriety.
Communication demands transparency
ShareForce makes coordination between team members, and between departments, clear, simple and transparent.
Communication becomes easy and secure, with the highest standards of data security applied at all times. Importantly, tasks are clearly and simply assigned and there is a clear audit trail, making reporting and monitoring as simple as clicking an icon.
Using the ShareForce knowledge centre, employees can securely access vital information whenever and wherever they need it, eliminating the stress and hassle of waiting to liaise with in-house specialists.
A decentralised workflow that ensures compliance
IFRS 2 and GAAP compliance is built into the very architecture of our systems. ShareForce therefore doesn’t merely help team members work more efficiently, it ensures that they are automatically acting in full compliance with regulatory requirements.
The unique combination of data security, intelligent systems to eliminate human error, full auditing and reporting, and compliance architecture means that ShareForce’s digital tools are the most efficient mechanism to ensure total transparency and compliance when working remotely. Rather than worrying about compliance and security, team members are now free to focus on performing their core functions – even when working from home.
It has become a cliche to call any software or piece of a tech a ‘solution’. However, in this case the term is entirely apt: ShareForce has developed an elegant, specialised solution to the complex problem of managing share incentive schemes, even under the most demanding conditions.
Also read: “Share-Based Payments: IFRS vs GAAP Comparison“
Solutions should still be on speed dial
Effective SaaS solutions will ensure remote workers don’t feel isolated and out of touch. By the same token, our business is built around helping our clients stay up-to-date, informed and in control.
Our multidisciplinary team of experts is always on hand to help. Whether it’s getting to grips with the complexities of IFRS 2 or untangling byzantine derivatives, the ShareForce team has the experience and advanced technical expertise to assist with any query or problem, no matter how complex.
To view a demo of the ShareForce Incentive Plan management tool, fill in the form below or visit www.shareforce.net/contact
