TPR should put more emphasis on governance software

A TPR consultation on the review of the TKU code of practice closed at the end of December.

eShare's response highlighted the "fundamental role of governance software in raising standards of governance and improving knowledge management".

The software provider called for the regulator to take the lead in encouraging trustees to look at the potential of governance software and knowledge management tools to improve trustee knowledge.

Managing director Alister Esam said: "The regulator wants trustees to improve their knowledge. The natural conclusion to this would be to encourage them to use the knowledge management tools that organisations outside of pensions treat as a given."

In a recent survey, respondents felt governance software was currently delivering greater benefits to the pensions manager or secretariat than to the trustees.

Esam added: "This really is a missed opportunity for the regulator. In our response we are calling on the regulator to encourage scheme trustees to engage and reap the benefits of technology so that they can do a better, more effective job for the members of the schemes they look after."

It outside the pensions industry the debate around knowledge management has centred on using technology to improve access to knowledge. The ultimate knowledge management tool has been the web.

eShare said governance software goes further and managed all governance processes saving those who do the work of governance time and allowing them to be more effective.