Since its beginnings in 1983, WEX Inc. has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 11 million vehicles and offering payment security and control across a wide spectrum of industries. Headquartered in South Portland, Maine, WEX serves a global set of customers and partners and has over 10 international WEX offices. The organization’s governing board of directors is comprised 10 directors who provide strategic direction and expertise on advancing WEX’s core goals.
THE CHALLENGE
Before partnering with Diligent, the WEX board of directors used a quasi-board portal built in-house to help move the board and its administrator team away from paper board packs. While it was a step in the right digital direction, this approach created numerous obstacles.
“Our ‘home-built’ system had limited functions and was very cumbersome for directors and the board administration team,” says Greg Wiessner, VP Corporate Securities Counsel, WEX. “It was challenging for the board of directors to use because it required a PC that was security enabled.”
The WEX board of directors are comprised of directors who travel a lot and often internationally. Unfortunately, the rudimentary board portal did not provide the mobility and accessibility needed.
“Overall, the solution we attempted to cobble together didn’t work; in fact, directors had trouble just trying to log into the system,” he explains. “We needed something easier, better features, more security and mobility.”
THE SOLUTION
Wiessner and his team researched board portal solutions on the market and looked closely at five solution providers.
“Diligent stood out from the rest because of very strong references of users who gave testimonials,” says Wiessner. “We followed up on those references and got great feedback and insights from current Diligent customers. We were also fortunate to have a WEX director who was familiar with Diligent so we listened to his recommendations, too.”
After selecting Diligent, WEX implemented Diligent Boards in an integration process Wiessner describes as “very smooth, well-thought out and showed how experienced Diligent was in making an easy transition for new customers.”
THE BENEFITS
Now, with Diligent Boards in place, the WEX board of directors and board administration team are all empowered with a secure, intuitive, and accessible board governance management platform.
“Our directors have the convenience, speed and advantages of having the board books supplemented without collating through stacks of papers,” explains Wiessner.
Sometimes it’s also the unseen benefits that improve board-related processes.
“The biggest benefit we didn’t realize was the quick access to historical information,” he says. “If, during a board meeting, I needed materials from 4 years ago, there’s no way for me to present that information with paper. But with Diligent, I can quickly pull it up and present it to the board during a meeting.”
Wiessner explains that Diligent’s ease of use proves how intuitive and well-built the solution is.
“Diligent allows me to disperse any size of information to any or all of my directors in a convenient way and for them to access the information anywhere,” he says.
While WEX continues to partner with Diligent, they recommend boards not only to consider Diligent for their technology, but for the best-in-class customer service.
“While the solution is easy, we still have questions and Diligent Customer Service is always there. Even if I call at 10:30 at night, somebody will answer the phone. They will instinctively know what the problem is and clearly explain and guide me through what I need to accomplish. I can truly say Diligent Customer Service is the best customer support that I’ve experienced,” says Wiessner. “I can’t imagine any board ever being disappointed with it.”