eShare is successfully rolling out it’s Procedure Management software to some of its most high profile clients and as a result is solving key man risk.

To ensure work is completed efficiently and accurately requires good procedures to be in place.  But simply documenting procedures is not enough. The challenge is ensuring that the latest version is being correctly and consistently followed. All too often procedures gather dust in a file, while trustees and administrators simply do things the way they’ve always done them. This can lead to inconsistency, and actions not being completed in the best way for the scheme.

New governance software holds the key to making documenting procedures easy and efficient. Reliance on manual, paper-based processes is no longer sufficient. Governance software is now widely available and provides a user friendly, comprehensive system for recording, managing, planning and auditing all procedures as well as all aspects of scheme governance.

Alastair Knowles of BAA Pensions highlights the difference using Procedure Management software can make, “Having recently upgraded to eShare eProcedures we believe that this additional function will mean we can have confidence that relevant procedures are fully documented and are being followed and completed promptly and correctly.  Now we can track a specific procedure instance, to see status and ownership.”

One example of using eProcedures is for Scheme Secretaries to manage and monitor how and what Third Party Advisors (TPAs) are doing for the Trustees.  It gives the Trustees and the Scheme Secretary control of what procedures are used (how the work is performed) and each instance will allow the Trustees and Scheme Secretary to monitor the progress of any procedure.   It gives the Scheme Secretary access to the TPA without having to constantly telephone and chase the administrators.

With a software based procedure system in place then Trustees and administrators can know and prove that the latest procedures are being correctly followed.   Alister Esam, Managing Director, eShare, says “Schemes need to ensure procedures are actively followed, not just gathering dust on a shelf.”  He continues “Don’t just pay lip service by documenting a procedure but then never referring back to it. Schemes need to find ways to ensure their procedures are active and relevant; it doesn’t have to be time consuming. Governance software saves time.”