Digitalization in the boardroom
av Morten Helgaland, Chairman
1. Technology belongs in the boardroom
Digitalization is no longer just a question of having a website or an app. It is a holistic approach to how we work, how we interact with customers, and how we develop new products and services. It is as essential to running a business as keeping your finances under control.
The era when technology was something handled by the IT department is over. Technology is now an integrated part of everything we do, which is why it is important that technological expertise is represented in the boardroom. Yet Norwegian boardrooms are still heavily characterized by law, finance, and paper. And no, PDFs don't count.
Top tip
Start by adopting a board portal. It is a great first step towards a digital boardroom and a digitally competent and engaged board. We recommend Bård - brd.no
2. Everything is technology
Whatever your business does, technology is business-critical. Whether your employees are nurses, pilots, farmers, or interpreters, IT is a central part of everyday life — or at least it should be. Every profession, every task, every industry depends on IT just as much as on capital. Code and cash are equal inputs in every business.
Code and cash are equal inputs in every business.
Business risk has evolved significantly in step with technological advancement. While liquidity problems were previously the main focus, it is now cyberthreats and system outages that should dominate risk assessments. These can lead to the loss of critical data, damaged customer trust, and potential legal consequences. A deep understanding of cybersecurity is therefore crucial to protecting the company against such threats. Can you feel at ease if you feel like a digital outsider?
In addition, the modern business world demands a holistic approach to risk management. Companies must implement robust IT contingency plans and continuously monitor their systems to minimize the risk of data loss. Investing in technology and technological security will help reduce this vulnerability — a core task for any board.
3. The team is as always everything
You cannot expect everyone in a boardroom to know everything. That has never been the case. But the baseline requirements have evolved. In the post-war era, you needed a finance expert, a lawyer, and an industry builder on the board. Now you need a technologist as well. It is that simple.
The boardroom must therefore both be digitalized — and lead the digitalization. This is where digitalization strategies are shaped, and where decisions are made.
