Bank of Hawaii Realizes Significant Time and Cost Savings with BoardWorks™
Since 1897, Bank of Hawaii has been providing financial services to consumers, businesses and governments in Hawaii and the West Pacific. For the past 11 years the institution has been ranked as one of “America’s Best Banks” by Forbes magazine¹, and was named one of America’s safest banks, according to Moody’s Investors Service.²
Challenge
The Bank of Hawaii board of directors meets 10 months of the year, with board members traveling to head office to attend. For each meeting, Jill Rotolo, Corporate Secretary Administrator, would produce 26 binders, one for each person, and in some cases the meeting materials could be over 1000 pages. This work was taking an overwhelming amount of time, not to mention the cost of printing and couriering the binders a couple of days prior to the meeting for members to review, as well as the environmental impact.
In addition to these meetings, the bank has 140 board, executive and committee members sitting on 48 committees, all of whom have their own individual information and document and needs.
Solution
When Bank of Hawaii decided it was time to streamline their document preparation and sharing by implementing a board portal, Jill was given the task of researching solutions. After in-depth testing of three board portals, Bank of Hawaii chose BoardWorks™.
“Of all the platforms we reviewed, BoardWorks was the most intuitive and easiest to use, both for users and for back-end administration.” said Jill. “The overall process was much simpler and self-explanatory. When onboarding new employees or members, the user-friendly interface helped reduce the training time required, allowing them to quickly begin using the portal.”
Once Bank of Hawaii selected BoardWorks, the implementation was smooth and seamless. “The Computershare team was efficient and helpful, and we were up and running quickly,” said Jill. “I also appreciate the support of our client service manager. Whenever I have a question, he’s very responsive. It’s nice to have one person I know will always pick up the phone.”
With the amount of materials being produced for board and committee meetings, printing and distributing documents was always time-consuming. With BoardWorks, uploading documents is straightforward and it’s easier to accommodate last-minute changes. Jill created a private folder for each of the board members and can quickly post individual personal materials they need.
“By eliminating the printing and collating of materials, board members can get their documents much sooner, giving them more time to review them before meetings. They really appreciate that extra time.”
Results
Substantial time and cost savings by eliminating the need to produce 26 monthly binders of often 1000+ pages, plus other printed materials
Reduced environmental impact from printing and paper consumption
Easily onboarded 140 members of 48 committees to the BoardWorks platform
Members on multiple committees can sign in once and access all materials related to their various groups
With meeting materials readily available in the board portal, board and executive members can review documents earlier to prepare for meetings
When new people join Bank of Hawaii, the intuitive BoardWorks interface and ease of use reduces the amount of training time required
1 Forbes America’s Best Banks 2021
2 As of February 28, 2020, Bank of Hawaii was ranked No. 6 in the US for Long-Term Deposits by Moody’s Investors Service.
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