SEI Investments is hoping to help mutual fund boards in their duties. To do so, the Oaks, Pennsylvania-based firm is offering up a second generation of its eBoardroom software.

"This automated board book assembly system will enhance mutual fund governance, which is a critical need for all Trustees, as governance and compliance have taken center stage in light of recent industry developments," said Steve Meyer, head of SEI's Investment Manager Business.

eBoardroom Version 2.0 presents enhanced functionality to increase Board Room compliance and improve workflow management, according to Meyer. Part of the upgrade covers the regulatory changes that have hit the industry since the fund scandals started last fall.

The tool also promises to simplify the development, distribution and storage of meeting materials. This system offers real-time access to current and historical data, including annual reports, prospectuses and past board books, to give board participants greater flexibility in reviewing important information prior to meetings.

SEI has also incorporated a travel and itinerary management feature and a built-in reminder system to alleviate scheduling and travel issues faced by boards.

In addition, eBoardroom provides an audit trail for use during a regulatory audit. It enables a variety of users of this tool can assemble board materials in an automated manner, thereby reducing the administration process and shifting the focus to an increased compliance posture, according to SEI.

"eBoardroom 2.0 reduces the administrative and time-consuming tasks associated with organizing board meetings. In addition to nearly eliminating the need for physical files, we've created a virtual environment to facilitate board member collaboration and interaction," explained Ross Ellis, head of SEI's Global Funds Services Product Group.  

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