During a recent consulting project, we inventoried a surprising number of software packages used by the law department’s Corporate Secretary. Serving a modest-sized company, it has software that administers stock options; that maintains original Board minutes and executed transaction documents (Extempore); that helps manage subsidiaries (Transcentive); that completes Form 16s; and that prepares documents for filing through Edgar (Edgar Filing Direct).
This technology-savvy group also has software that lets it communicate with its registered agent (CT Corporation) when creating and updating corporate matters, and software for tracking subsidiaries (it has more than 800 of them). ISS Compass lets it test proposed changes to benefit plans. Finally, the Corporate Secretary group has software for calculating the value of options (for purposes of the annual report), and specialized software supported by lawyers at Howrey & Simon.
Ten different packages, each to support a specialized Corporate Secretary function!