Delivering D&O Questionnaires: Kick Paper to the Curb

Danielle: Everyone, thank you for taking the time to join today’s diligent webinar, Delivering D&O Questionnaires: Kick Paper to the Curb. This is part two of our three part Welcome Back webinar series. My name is Danielle Nathanson and I’ll be moderating along side my colleague Ray Judge, who is our D&O Questionnaire expert around here and has helped many organizations streamline their D&O process.

Before we get started today I’d just want to go over a few housekeeping items. Today’s webinar will last about thirty minutes and it will be recorded. A replay will be sent out to all registered shortly after the session so please feel free to share the replay with your colleagues.

Also, please feel free to ask questions at any time by utilizing the questions pane in the go to webinar panel. Now, we’re going to start off the presentation with a quick poll for you, so you’ll soon see a screen pop up.

We just want to ask you, how are you primarily preparing and distributing your D&O questionnaires at this time. Do you stick strictly to paper questionnaires, or maybe you email out PDF and word versions for your directors and offices to fill out. Some of you might use an online survey tool like Survey Monkey, or you may already have a dedicated D&O solution. Just another few seconds for everyone to answer and get their answers polled in there.

All right. I’m going to pull this webinar up and share the results with you all. So, a little mix of everything. Definitely more paper and PDF. Still sort of away from the digital D&O questionnaires. Hopefully that will be able to show you how a dedicated D&O solution can make you lives much easier and more productive around D&O season.

Now I’d like to hand things over to Ray to take you through the rest of today’s presentation.

Ray: Thank you, Danielle. Let’s start with a quick overview of Diligent the company. Diligent introduced the board portal back in 2001 and today we have 140,000 users. We’re in 60 countries, we’re in all 7 continents. Today we’re going to talk about our premium questionnaire module, which we often refer to as a D&O module, which is an add on to the Diligent board subscription.

Every Diligent board subscription does come with a basic questionnaire module, so this is an add on that we will talk about today. It has been around for about a year, actually a little less than a year. We do have hundreds of clients that are using our D&O module and thousands of users. We’ve already been able to get lots of feedback from our clients as we go along. As I mentioned, we’ve been doing the board polls for fifteen years plus now and that has allowed us to get a lot of great feedback from our clients.

We find that somewhat similar to what we saw in the poll today that a lot of people are still using paper. Even from our clients that have some of the most tech savvy board members and administrators are still using paper because of the challenges that electronic solutions do provide. We understand that they just went back to what that burden entails using paper. And a lot of people do use PDF and email, which is just another way of using paper, because let’s face it, we all know that a lot of those PDFs just get printed out and then filled out in pen and then returned in paper form. We also understand what those challenges represent.

We’re seeing, lately, some clients have attempted to go the electronic route using other third party electronic solutions, like a Survey Monkey type of solution. Those solutions are not designed for the board. They’re not tailored for that board member. There are some very key features that they lack that we’ll walk through today. The logical conclusion is to use a solution that is designed for the board, the Diligent D&O module. And we’ll walk through all these key features here today and you’ll see exactly what we’re talking about, in terms of having a solution that will make life that much easier for not just the board member or the executive that’s filling it out, but that administrator who’s tasked with the job of getting that put together and seminated to everyone.

With that, let’s jump right into a demonstration of the product from the administrator’s point of view. Looking at here is our questionnaire manager. I’m logged in to the administrator’s interface, I’m actually in the middle of building a book from scratch. What I’m going to do is jump right in to that book. I’m going to add a question at the end.

Right down here, I hit this plus sign right here at the bottom, and you add a question. I’m going to add a question that’s a list question. I can copy and paste the question itself right from a word document. This question has to do with bankruptcy. I paste that right in. I can actually use other questions’ responses. Here’s a simple yes or no question I’m going to use. The question seven answer, it’s a yes or no. I want the user to only be able to choose one answer, so I check that box there. And now I hit save. So I just added a question.

Now what I’d like to do is another sub question, or a contingent question. Hit that plus sign again. Let’s just take a second to review some of the question types. I just added a list question, the most simple list is the yes or no question, but you’re list questions can get as complicated as you care to make them. A text question would prompt the user to elaborate with some sort of text answer. A table question would typically be used to collect the employment history or maybe stock holdings from the recipient.

The number question is the on a scale of one to five kind of question. Agree, strongly disagree kind of question. We even have question types that ask for a date. If you don’t answer with a valid date, the user can’t proceed. And likewise for an email question, if you don’t put an email in there, the user wouldn’t be able to proceed. We have a very wide range of question types that you can use there. The last question type isn’t really a question, just a message. You can leave a message for that recipient at any point in the questionnaire.

Let’s add a text question here. We’re going to say, if yes to the bankruptcy question, please elaborate. So this will be a simple text question. We’re going to make this contingent. Only the people who answer yes to that bankruptcy question will be prompted with this question. In other words, if you answer no as a recipient, you are not going to see this question prompting you to elaborate. So we have this contingent question set up here.

The whole time that you are creating your questionnaire, you can preview it from the board member’s perspective. So I’ve come up here to the preview icon and I click there. Now I’m seeing things as the questionnaire recipient would see them, and you can test everything about your questionnaire. Let’s test the contingency here. If I answer no, what happens? Nothing. If I answer yes, you see how that 12.1 pops up, prompting for additional elaboration from that board member. That’s how you would add questions to a questionnaire, create that questionnaire from scratch, like we’re doing right here.

Once you do get the questionnaire complete, you will then publish it, which is what we’ll do right now. I go back to the landing page on the questionnaire manager. I hit the publish icon here, and I’m prompted to give it a closing date. We’ll close this down at the end of the year. I hit next, we’ll keep that title. We’ll allow the main board to be the people that are receiving this. Actually, I’ve chosen specific people that are on the board to receive this particular questionnaire. I’m going to retain those choices. Obviously I can edit that if I wanted to. There’s a review of all those who will receive this questionnaire. And finally, once you publish it, it’s going to go out to everybody and it’ll be immediately available for them to go ahead and answer the question.

That’s creating a questionnaire entirely from scratch and that’s really something you would only do one time. Our questionnaire module allows you to bring forward previous questionnaires. Not only bring forward all the questions, but all of the answers for each of the people who have provided answers. We have a questionnaire here that has been filled out, as you can see here. The progress bar says it’s 100% completed. This is a questionnaire form 2014. What I’d like to do now is give you an example of how that content and all the answers can be brought forward.

Again, we’ll use the duplicate button. Here, I’m given the option to bring forward all the answers. In fact, that’s what we’ll do. We do want to change the title of it, we’ll call it the 2016 Questionnaire. The first thing that it would prompt you to do is to review those questions and make sure they’re still appropriate for the new year that you are publishing it.

This is an old one, we’ll just refresh the date year in this question. You’ll be able to go through the questions and tweak them to reflect any changes that might have happened. You might even need to add a question. I’m going to add a question here just for demonstration sake. We’ll add it to this page. I’ll go down to the bottom and I want to ask a very simple list question. Have you been convicted of a felony? Used to be asked about eight different ways on every D&O question. Again, it can be a simple yes or no question. We’ll copy that, yes or no option from one of our other questions. Make sure they can only choose one. And now hit save.

We just added a question to this pre-filled questionnaire, it’s question number nine now. Go back to the landing page once again, and here we are on the middle of building this pre-filled questionnaire. Now, I’ve gotten all the questions just the that I want them. I’ve tweaked them to reflect the change from year to year. I’ve added a new question to reflect something new that came up this year. And now, I’ve gone into the pre-fill manager. You can pre-fill questionnaires two different ways. From the master level. When you answer that question, you’re answering on behalf of all the recipients of that questionnaire, or you can pre-fill at the specific user level.

Let’s answer that question we just added at the master level, because we know that no one on our board has been convicted of a felony. We’ll go to that question nine. Even if you have other questions that are answered, we’ll go to question nine and we’ll say no, not been convicted of a felony, you can see how it’s saved there. Now go back, right now we’re looking at the pre-fill manager once again.

Let’s say I have one on of my individual recipients of the questionnaire has a name change. I can go in and pre-fill on behalf of that specific user. Now, I’m going to see their individual answers. I can go in and change, if somebody got married. We update their personal information there. I can do that for any and all users. Once I get all of the questions the way I want them, all the answers the way they need to be, I go back and publish a pre-filled questionnaire.

It’s the same process of publishing that we saw before, the questionnaire that we did from scratch, the difference is that this one is going to have all of the answers completed for that recipient. We click through it, clicking those user permissions. And there we have it. A fully pre-filled questionnaire that’s now available for the board.

One thing that I wanted to show you, that is new, some of you might be familiar with our D&O module. There are actually a few things that I wanted to walk you through real quick here, just to make sure that you see that. We’re going to dive into this questionnaire here. I will walk you through the process of linking a questionnaire to a question, to an appendix. We’ll go down to this question here. Beneficially pledged would be a term that you would occasionally require an answer to or clarification on exactly what is the meaning of beneficial ownership. In this particular case, we can add an appendix here. In this case, we’ll call it the definition of appendix. Okay, that’s saved. Now I add an item. Then you would probably cut and paste the definition of a beneficial owner right in here.

The board member who is answering that question might be a little unsure about what is intended by that particular term, would easily be able to jump into that particular appendix item and see that definition. I just created it, now we can link to it. Right in the question, right here, view the link, beneficial owner right there. So when the questionnaire recipient is answering the questions, here we are back at the preview again, we can hover over it or click on it and get a definition of that particular item. You don’t have to append a stack of definitions at the end of a questionnaire the way you would in the paper environment. You don’t have to have that glossary back there for them to flip through pages and go ahead and find. They’ll be able to just hover over an item or click on an item and have that definition sitting there for them.

You can also do the same thing when it comes to linking to other questions. If someone fills out the stock of ownership table and you have all sorts of questions about that stock ownership, is to pledged, is it fully beneficially owned, if not who are the other owners of that stock. Those kinds of questions are often asked about a table full of stock ownership. You can have a link there that has that table pop up and they can refer to that table the whole time that they’re answering those questions. Those are linking to other questions and linking to items that you put into the glossary, or to new features that we introduced after getting feedback from the hundreds of clients that are currently using the D&O module.

That’s pretty much it in terms of what I wanted to cover regarding the platform. If there are any questions, I’d be happy to answer them.

Danielle: Okay Ray, it does look like we got a few questions in. For everyone else, if you have any questions, now is the time to ask them using the questions pane on the right side of your screen. But we’ll just get started with some of the few questions we received during the webinar.

The first question is “How can you export questionnaires and answers?”

Ray: After it’s done, or even while you’re doing it, you can always just hit that button, and hit that export button that allows you to create a PDF of the questionnaire. When the questionnaire’s complete, you’ll actually be able to export a VSV file that will highlight all of the answers for you all in one spot. There are two ways to get that content out of the platform and make it usable for you as the administrator. A lot of clients do export a completed questionnaire as a PDF to be retained on their own network.

Danielle: We have a question about the appendix and how is it possible to carry that over in addition to the question.

Ray: Absolutely. Once you create those appendix items, they will follow that questionnaire when you bring it forward, like it did before, that pre-filled questionnaire. You can bring not only all of the answers … you can bring all the questions, you can bring all the answers, and all that linked material that you set up.

Danielle: Another question about closing dates. Is it possible to extend the closing dates after you’ve already published a questionnaire?

Ray: Absolutely. That’s actually a feature that we were asked for after the original module was made available about a year ago. The ability to extend the close date is a recent feature that we’ve added at the request of our client base.

Danielle: We do have a few questions about pricing, of course, if you could elaborate a little more.

Ray: Sure. As I mentioned, the D&O module, or premium questionnaire module does exist as an add on to your current board’s subscription. I would encourage every client on the line to talk to your customer success manager and those of you who are not Diligent clients can talk to your Diligent sales representative to get a sense of what the actual D&O module pricing looks like.

Danielle: All right. I think that is all the questions that we got from the audience, so I’m going to end this a little early for everyone. If you have any further questions that you would like addressed after the webinar, would like to see a full demonstration of Diligent D&O, Ray’s information is up on your screen, so you can take that down and reach out. If you don’t already have a sales representative, our final webinar in our Welcome Back webinar series will be held this Thursday at 1PM eastern time, cyber threat and securing the board, so we hope to see you all there as well. Thank you again for joining and have a great day everyone.

  • Ray Judge

    Regional Sales Director

    Diligent introduced the board portal back in 2001 and today we have 140,000 users. We’re in 60 countries, we’re in all 7 continents.
  • Today we’re going to talk about our premium questionnaire module, which we often refer to as a D&O module, which is an add on to the Diligent board subscription.