Digital Innovation Strategy
ONGC wanted to digitize the company’s corporate governance documents while ensuring security of the same. The company developed an Executive Management Portal. The executive board of directors which consists of full time and independent directors, meets once every month to decide on strategic investments and future plans. For this the board agenda had to be prepared and circulated to the Board members in advance. In paper form, ensuring circulation, accessibility and physical carriage used to be a challenge because of the voluminous documents.
This decision-making process is now facilitated by electronic access to records and decisions are made early on, irrespective of location. The portal also has records of more than 16 other apex level committee meetings such as executive committee, executive purchase committee, audit committee etc. It benefited the company to make informed and fast decision making irrespective of the location.