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The U.S. Corporate Transparency Act requires businesses to report personal information on their beneficial owners to FinCEN by January 1, 2024. Businesses established or registered before January 1, 2024, have one year to submit initial reports, while companies created or registered after that date have 30 days. The reporting system is not yet active, but businesses should start gathering their information.
FinCEN requires new reports on Ultimate Beneficial Owners (UBOs) within 30 days of any change. Athennian offers entity management software to help businesses stay compliant with new regulations.
Explore the unique challenges of healthcare compliance and discover how advanced entity management software can automate processes, centralize corporate records, and enhance data safety and security. Learn how healthcare businesses can streamline communication and achieve regulatory governance through innovative technology
Discover how the manufacturing industry addresses novel challenges through advanced risk management strategies. Explore key risk types and components, and learn how entity management software enhances risk governance, compliance, and collaboration in manufacturing operations
Discover how company secretaries navigate the complexities of global healthcare operations with cutting-edge technologies. Explore key challenges faced by corporate secretaries, from regulatory compliance to board efficiency. Learn how advanced entity management software, like Athennian, enhances collaboration, promotes compliance, and streamlines governance in the healthcare industry
Unlocking Excellence in Regulatory Governance: Essential Technologies for Company Secretaries in Highly Regulated Industries. Discover how company secretaries navigate the complex landscape of highly regulated industries with cutting-edge technologies. Explore top solutions for regulatory compliance, entity management, and more on the Athennian platform. Learn how these tools empower secretaries to streamline processes, ensure compliance, and elevate governance practices.
In today's intricate business landscape, achieving effective corporate governance and a streamlined subsidiary structure is imperative for both operational efficiency and adherence to regulatory standards. As enterprises expand their footprint across diverse sectors and geographies, managing subsidiary data while ensuring legal and regulatory compliance has become increasingly intricate. This article explores five essential approaches to streamline your corporate subsidiary structure while maintaining rigorous corporate governance and regulatory adherence.
The transportation industry is constantly adapting to technological advancements and changing global priorities. To ensure safe and efficient operations, regulatory compliance is essential. This article explores the challenges and solutions to regulatory compliance in the transportation sector, from safety and security to environmental sustainability and international regulations. Corporate subsidiary governance solutions provide a strategic solution to navigate the complex regulatory landscape, streamlining compliance efforts and fostering collaboration. These solutions not only help to mitigate risks, but also empower transportation entities to excel in a dynamic and highly regulated environment.
Examining Data Governance's Strategic Role in Enhancing Telecommunications Corporate Governance. Investigate the integration of data governance with corporate strategies. Explore cross-departmental collaboration, prioritizing key datasets, and leveraging breaches for improvements. Gain actionable insights for reshaping telecom governance. Click for in-depth understanding.
The corporate secretary oversees and improves administrative functions, sets and manages board and shareholder meetings, and provides resources and answers to directors. Innovative solutions such as entity management software can help corporate secretaries streamline processes and increase efficiency.
Financial organizations must follow a complex set of laws to avoid serious fines and penalties.Scrutiny on corporate governance and compliance is increasing. Non-compliance can result in legal jeopardy and reputational damage. Investing in automated tools can make data governance efficient and compliant.
involving reporting of beneficial owners in multinational organizations in the context of applying double taxation treaties. Each of these cases included Danish subsidiaries of multinational organizations, one of which had a US parent company.These cases have clearly demonstrated how the application of double taxation agreements in the multinational setting is contingent upon the full disclosure of beneficial owners
Over the last few years, businesses faced more changes and uncertainties than ever before. The regulatory changes, the push for global transparency, digital trends and cyber security threats have compelled companies to revisit their workflows and processes to stay current. Meanwhile, global disruptions like the COVID pandemic, the looming recession, the war in Ukraine and other Black Swan events create even more uncertainty and call for additional resilience.
Due diligence is an integral part of any M&A transaction aimed at getting full insight into all aspects of the target company, including its structure, finances, operations, marketing, legal and other aspects. During the due diligence process, the parties outline diverse internal and external risk factors, mitigate various non-compliance issues and lay out their acquisition strategy.
A modern corporate secretary needs the right technology stack to manage the complexities of corporate governance, compliance, document management, and more.
This article examines the new roles of the company secretary and the challenges they face, such as antiquated processes, misaligned resources and teams, and a lack of the right tools. It provides insight into the four emerging responsibilities of the company secretary such as compliance management, corporate advising, organization, and record keeping. It also outlines the obstacles that impede the corporate secretary from fulfilling these duties and provides guidance on how to best manage risk, entity health, and other related areas.
Entity management is a critical task for any organization, and yet it can be difficult and time consuming. Upgrade to an efficient, cloud-based entity management software solution to make the most of your data. Athennian's software tears down data silos, providing a single source of truth for all entity management activities. Automation capabilities can lead to cost savings and improved efficiency, allowing you to prepare for audits, perform due diligence, and conduct KYC verifications quickly and accurately. With Athennian, you can finally put an end to the dreaded entity management scavenger hunt.
As your business evolves, its subsidiary management responsibilities can easily become unruly and outright overwhelming. Entity management can also be especially challenging if your organization still relies on manual processes and a cobbled-together network of disparate technologies.Thankfully, you can more effectively manage your entities by sunsetting your existing technologies and upgrading to an automated entity solution. If you aren’t sure whether now is the time to do so, however, here are seven signs to be aware of that indicate it’s time to make a move to an automated platform:
For start-ups and emerging companies, due diligence is a critical process for any M&A transaction proposal. Athennian's free due diligence checklist provides an essential guide to ensure the success of any merger or acquisition. Our due diligence services provide an in-depth look into the financial, operational, and marketing and sales aspects of any potential business, while our entity management software streamlines the entire process. Get the confidence you need to make informed decisions and take your business to the next level.
The Corporate Transparency Act (CTA) holds immense potential in promoting fairness and combating illicit activities within the business world. Enacted in 2020 as part of the National Defense Authorization Act for Fiscal Year 2021, this legislation sets a new course for corporate transparency. Although the CTA's effective date is set for January 1, 2024, the journey towards establishing the final rules necessary for full implementation has encountered its fair share of delays and challenges.
M&A transactions are a vital element of the modern business world, and entity management is an integral part of ensuring that these transactions are successful. With our M&A Due Diligence Checklist, you can mitigate risks to your business and lay the foundation for success. Additionally, our entity management software can support you through M&A transactions, helping you to look at the big picture, put a plan in place, prioritize post-merger integration, and adopt a modern entity management solution. We invite you to download our free checklist and contact us to learn more about how we can help.
Understand ultimate beneficial ownership (UBO) and the challenges associated with identifying and monitoring them with this helpful guide. Learn about the counter-money laundering legislation that has been passed, new regulations, and how to fulfill ethical and legal obligations. Discover how to perform a KYC/AML check, the importance of tracking UBOs and stakeholders, and the need for a modern entity management solution. Athennian provides a comprehensive entity management solution to support compliance with UBO regulations and other relevant laws.
Having a Chief Financial Officer (CFO) with access to comprehensive entity data is an essential part of ensuring organizational success. To improve visibility, organizations must invest in reporting technology with customizable dashboards, sunset antiquated entity management software, and tear down visibility barriers with Athennian. This article outlines the four reasons why CFOs need better financial data visibility, and the steps you can take to facilitate real-time reporting, increase organizational resilience, scale revenue, and streamline critical processes.
A well-designed entity management strategy that pairs established best practices with modern technologies can provide your tax team with the necessary visibility to manage multi-jurisdictional tax issues and ensure compliance with state, federal, and international tax requirements.
Ineffective entity management can lead to a lack of visibility, slowed decision-making, and increased operating costs. Poor entity management practices can result in fines and hefty penalties for companies in highly regulated industries.Effective entity management strategy is crucial for organizations in finance, healthcare, automotive manufacturing, or alcohol production and distribution.
Discover how automation tools and entity management software can revolutionize your global expansion efforts. This article explores the stages of global development, the challenges faced by global organizations, and how technology can streamline the expansion process. From formation to maintenance and dissolution, each stage presents its own complexities, which can be efficiently addressed with the right tools. By leveraging entity management software, businesses can overcome the lack of visibility, access to accurate entity data, collaboration inefficiencies, and cybersecurity risks associated with global operations. Learn from real-world examples and gain insights into the benefits of modernizing your entity management with automation.
Business teams operating global subsidiary structures will often encounter quota-based ownership in foreign entities. If your background is in a Common Law jurisdiction (US, UK, Canada, etc.), quota-based ownership can be confusing. This article unpacks and describes in practical terms quota-based ownership and how it compares to corporate ownership structures found in Common Law jurisdictions. Understanding quota-based ownership structures is important for legal and finance teams to collaborate with in-country teams, advisors, and regulators to operate global corporate groups.
FATCA requires all U.S. taxpayers (people and entities) to report yearly all assets held outside of the country so that they can be taxed. By taxing these foreign-held assets, the U.S. increases its revenue stream, which is put towards its incentive account for job stimulation. Penalties are imposed on U.S. residents who do not report their foreign account holdings and assets that exceed $50,000 in value in any given year.
In the ever-evolving landscape of business management, the way organizations handle their entities has undergone a remarkable transformation. From the basic databases of the 1980s to the cutting-edge solutions of the 2020s, the evolution of entity management software has revolutionized the way companies track and manage their crucial information. In this blog post, we will delve into the key milestones that have shaped the entity management landscape over the past few decades.
The legal industry is witnessing a rapid digital transformation. As law firms look to streamline their processes, reduce costs, and enhance collaboration, it's vital to adopt an advanced technology stack that caters to the complexities of corporate transactions. In this blog post, we'll explore the essential technologies law firms should consider for digitizing corporate transactions, including corporate entity management, transaction diagramming, and closing management tools.
The Pillar 2 global minimum tax regime, introduced by the Organisation for Economic Co-operation and Development (OECD), aims to address tax avoidance and profit-shifting by multinational companies. As part of the OECD's wider Base Erosion and Profit Shifting (BEPS) initiative, Pillar 2 is expected to significantly impact the way multinational companies organize their corporate structures. This article will discuss the impacts of the Pillar 2 global minimum tax regime on multinational companies and the potential changes to their corporate structures.
As businesses expand globally, they are often faced with the decision of whether to use an Employer of Record (EOR) or establish a subsidiary to support their growth into foreign markets. Both options have their merits and drawbacks, depending on the specific needs and goals of the company. In this article, we will discuss the advantages and disadvantages of using an EOR versus setting up a subsidiary to help business leaders make an informed decision for their international expansion.
Corporate housekeeping, also known as corporate maintenance, refers to the ongoing administrative and legal tasks necessary to maintain a company's compliance with local, state, and federal regulations, as well as ensuring that it operates smoothly and efficiently. Corporate housekeeping is crucial for a company to maintain its good standing, avoid penalties, and protect its directors and officers from potential liabilities.
This article highlights the limitations of using spreadsheets for business entity management, emphasizing issues with version history, audit trails, connecting supporting documents with data, automation, and permissions. Spreadsheets struggle to manage version history efficiently and lack built-in mechanisms for tracking changes, leading to errors and compliance risks. Furthermore, spreadsheets do not provide efficient methods for associating documents with specific data points, offer limited automation capabilities, and have basic access control features. As a result, organizations should consider adopting specialized business entity management software to improve security, traceability, and automation capabilities.
How exactly is entity management software better than a manual speadsheet? Using entity management software has many benefits that can help your business excel.
The global pandemic has highlighted the importance of strong corporate governance in ensuring the resilience and sustainability of businesses. However, in recent years, the definition of good corporate governance has evolved beyond the traditional focus on financial performance to encompass a broader range of environmental, social, and governance (ESG) issues. This shift reflects a growing awareness of the impact that businesses can have on the world around them, and the need for companies to take responsibility for their actions.
Managing corporate compliance can be complex and time-consuming, especially for organizations with a large number of subsidiaries. This is where technology, specifically entity management software such as Athennian, can play a significant role in enhancing corporate compliance.
Environmental, Social, and Governance (ESG) investing is rapidly gaining popularity as investors seek to align their investments with their personal values and support companies that prioritize sustainability and good corporate governance. So let’s explore why ESG investing matters for corporate sustainability and profitability, and how entity management software can help companies stay on top of ESG issues.
The CTA places significant compliance obligations on covered entities, and failure to comply can result in significant penalties and reputational damage. Therefore, it is crucial that executive leadership prioritize CTA compliance and take steps to ensure that their organizations are fully prepared to comply with the new regulations.
Risk management teams can play a vital role in helping their companies comply with the US CTA requirements.
The U.S. Corporate Transparency Act (CTA) has significant implications for companies across the United States. As an in-house legal professional, it is important to understand the key provisions of the law and take steps to ensure compliance. This checklist provides a guide to help you stay on top of your company's compliance with the CTA.
Finance teams are responsible for managing the financial transactions of a company and are therefore well-positioned to implement the CTA requirements. The finance team's role in CTA compliance can be divided into three key areas: data management, risk assessment, and reporting.
Compliance professionals play a crucial role in ensuring that their organizations meet the requirements of the CTA. Let’s explore the steps compliance professionals can take to stay ahead of the U.S. Corporate Transparency Act.
The end of each year often means that businesses and internal accounting teams are determining what to invest in. This often involves a round table approach to viewing the company’s finances and determining how to reduce certain costs without forsaking the integrity of the company or the quality of products and services offered to its clients.
Today, organizations are creating new subsidiaries in increasing numbers to manage liability and risk exposure, minimize tax burden and address regulatory and licensing requirements. When the number of subsidiaries multiplies, companies have to either spend more and more time and effort on managing new entities or seek effective systems to address their governance and compliance most effectively.
Filing returns is one of the core responsibilities carried out by corporate in-house legal teams and private law firms that provide services for businesses.
ESG is a new approach to corporate governance that focuses on the environment, social, and governance issues. ESG integration is not just about avoiding risks; it's also about identifying opportunities for growth, innovation and brand building.
A subsidiary is an independent company that is more than 50% owned by another company or corporation. The subsidiary acts on its own behalf and has its own board, but the parent company’s participation helps spread the risk and limits investor loss.The benefits of having subsidiary corporations are substantial:
Leveraging enterprise risk management methodology can promote business continuity and enable your organization to operate within its risk appetite.
Corporate governance is the system of rules, practices, and processes that direct and control a company. Corporate governance involves balancing the interests of a company’s stakeholders, including the shareholders, board, management, and employees, as well as those of the communities and society in which the corporate operates.
Entity management software is a powerful tool that helps you manage your corporate governance requirements. It can be used to manage legal entities (companies, trusts, partnerships) and their associated transactions, including financial transactions, compliance processes and administration. Here are the ten benefits to using an entity management software.
f your company is like most, it's probably focused on the bottom line. You want to grow revenues and increase profits. However, when it comes to building a strong reputation within your industry and in the eyes of customers, profits aren't enough. Corporate visibility is more than just a marketing tactic; it's an essential business strategy that can help you achieve long-term success.
The U.S. Corporate Transparency Act (CTA) was signed into law in January 2021, with the aim of creating a centralized database of beneficial ownership information for U.S. corporations and limited liability companies. This new law will have a significant impact on businesses, especially those with complex ownership structures, and will require them to gather, maintain, and report accurate and up-to-date information about their beneficial owners.
The Corporate Transparency Act is a recent law that requires businesses to be fully transparent about their activities, including the companies and trusts they use to conduct transactions. The Corporate Transparency Act was passed in order to ensure that corporate entities are being used for legitimate business purposes and not for money laundering or other illegal activities.
Managing subsidiaries is a complex task. It requires you to keep track of the day-to-day operations of your corporation, which can be difficult if you don't have the right software in place. Unfortunately, most companies do not have an easy way to manage their subsidiaries from one central location. This means that when things go wrong, it can be hard to know who is responsible for fixing it or where to start looking for solutions. An entity management software platform provides more than just centralized access and recordkeeping across multiple entities – it also helps ensure consistency and compliance across all entities within your organization.
If you're planning to grow your business, you likely have a lot on your plate. There are new employees to hire, processes and procedures that need to be adapted for growth, and tools that must be updated. But there's one thing that can get overlooked during this time: entity management. In this article we'll explain why it's so important for companies to keep their entities organized as they expand, what role entity management software plays in the process of expansion, and how you can use an entity management system yourself to help make scaling easier for yourself.
Enterprise risk management (ERM) is a corporate governance framework that facilitates holistic risk management.
When evaluating a prospective entity management software solution, you should examine how effectively it addresses four key facets of entity management, which include:TransparencyGovernancePortfolio OperationsSecurity
Poor organizational transparency is bound to undermine governance initiatives, fuel compliance challenges, and hinder collaboration between teams and departments.Every asset manager understands the need for transparency, though many struggle to provide a level of transparency that satisfies the needs of investors. What is it that makes providing transparency so challenging? More importantly, how can you reduce organizational opacity and promote trust throughout your firm?
Entity management software can power your in-house finance teams to handle business processes, and with the right software at your disposal, your team will become compliant with key regulations and be able to properly handle audits and transactions. The right entity management software will also provide your teams with a central source of truth for financial data, a streamlined automation platform, and enhanced collaboration and visibility.
Tracking legal entities can be daunting, especially for organizations with multiple entities and subsidiaries, each with its own unique ownership structure and compliance requirements. A spreadsheet can be a valuable tool for organizing entity data, but it's important to use it effectively to ensure accuracy and compliance. Here we'll explore some tips for tracking entities within a spreadsheet.
The enactment of the US Corporate Transparency Act (CTA) has had a significant impact on the private equity sector and portfolio companies. Even though the Act provides ample exemptions for financial services and investment institutions, it creates friction for many organizations developing their portfolios and creating new entities.
Organizations are investing heavily in cybersecurity for corporate governance to mitigate these risks. According to a survey conducted by PwC, the average cybersecurity budget for organizations in 2021 was $19.8 million, representing an increase of 9% from the previous year.
Many institutional investors, including private equity, funds, REITs and other investment companies, were long known for less transparency while offering better returns in exchange for higher risk. Meanwhile, today's environment, characterized by higher competition and lower margins, makes transparency more important as investors demonstrate a higher interest in gaining better visibility on invested assets.On the other side of the spectrum, regulators impose more demanding transparency standards on financial markets to protect investors and prevent money laundering. Such standards raise the bar for KYC and due diligence and create additional pressure on M&A teams. Below we go into more detail on how corporate visibility affects KYC, due diligence and M&A and what changes are needed for asset management firms to stay current.
Today, asset managers need a clear visualization of the ownership structure to optimize their portfolios and provide a clear picture to the board and investors. Below we discuss why visualizing organizational structure is so important and how entity management software can help asset managers simplify complex entity relationships.
As businesses multiply the number of their legal entities and work across several jurisdictions, tax compliance becomes a high-risk area fraught with adverse tax adjustments, fines and penalties. The challenges of tax compliance become all the more complex, with legal entities being in a state of constant flux due to M&A deals, restructuring and rationalization programs.
When asset management firms expand their portfolios, their legal entity structures become more and more complicated, with complex ownership connections and multiple tax structures across various jurisdictions. In this situation, asset managers struggle with managing all of their investments and investors and fulfilling their administrative work. In addition, this ever-growing complexity in a quickly changing regulatory environment places a heavy burden on the whole organization, including legal, tax and accounting teams.
With a growing number of complex business structures, management of those business entities has never been more needed. Yet, this results in an entity management system that matches the complexity that comes with these structures. You may find that your business has expanded with multiple entities for a number of reasons, be it to reach business goals, or that the regulations you must meet have become increasingly burdensome and convoluted.
In 2022 Athennian’s Diversity, Equity and Inclusion (DEI) Committee refined its mandate in four key areas. Here is a closer look.
The responsibility of entity management is often delegated to an organization’s legal department. However, as you are well aware, the in-house legal team is not the only department with related responsibilities. Your tax and compliance departments also play critical roles.
Keeping up with trends in today’s world can be challenging. It is easy to become numb to the onslaught of constantly evolving technology available, each one with a promise to revolutionize the business world. However, as we start another year around the sun, business and legal professionals are already gearing up to learn what trends can enhance their internal processes in order to uncover new sources of revenue.
With the global adoption of greater corporate transparency and the public's close attention to ESG factors, general counsels seek to gain more visibility into the corporate structure. At the same time, the rising compliance burden makes GCs consider new ways to manage their costs by bringing administrative legal work in-house.These causes and other factors make entity management even a bigger priority for GCs in 2023. Below we discuss in more detail the challenges created by the UBO regimes, the lessons learned after loud ESG and subsidiary scandals and how adopting entity management software can help GCs attain better control over governance and compliance costs
A centralized database with document updating features lets departments edit and correct documents and share data in real time. Information needed to complete or update a document can be called up immediately when the error is noticed. Consistency is the key to correctness, and that is the key to transparency.
There is no question that proper entity management is vital for PE funds, but keeping your entities in check does not have to be a painstaking process that consumes your precious resources and hinders your ability to serve your clients.
Sometimes, it isn’t what you know, it’s what you don’t know that hurts you. As big companies become big multinationals and delegate more responsibility to local subsidiaries, the parent company can sometimes lose oversight of what is happening in the farthest reaches of their corporate structure.
When clients partner with a firm to manage their equity, they are trusting that entity with their financial future. The firms that take that responsibility seriously will cultivate trust among clients, strengthen their brand reputation, and promote business continuity. Conversely, those that fail to do so risk exposing their clients to unnecessary dangers and find the continuity of their business in jeopardy.
Initially, adherence to ESG regulations was voluntary. However, governments in North America and abroad are beginning to implement legislation that will compel businesses to comply with these rules.Fortunately, businesses can overcome these challenges by operationalizing environmental, social, and governance processes. They can accomplish this by adopting modern entity management software.
Future-proofing your company starts with a solid database system that can give you the information you need when you need it and grow with you as your business expands.
Increase client confidence and find the answers you need in seconds by centralizing business data in Athennian. Unlock best-in-class security standards and workflows to automate reporting, compliance, regulatory workflows, ownership, and more.
Interdepartmental visibility has become more important than ever as enterprises collect and manage massive amounts of data. While each department needs specific data sets to fulfill its responsibilities, there is a great deal of overlap. For instance, tax, compliance, and legal departments will need access to the same basic client or vendor data. When interdepartmental visibility is low, these teams may not have access to this critical data.
In an ever-changing legal world, the very meaning of practicing law is constantly transforming. For legal teams, this means that investing in technology-based legal improvements that are both effective and cost-contained is a must. Yet, the evolution of technology-based needs has become somewhat of a double-edged sword: while it is a necessity to get ahead, it has also paved the way for increased competition amongst service providers in the same arena.
Having a user-friendly and effective entity management system is foundational for collaboration across teams, strong governance and compliance and developing investors' trust. Keep reading to find out more about the consequences of poorly maintained legal entities and why entity management should be on your startup priority list from day one.
It’s no secret that the primary goal of every business is to make a profit, and that’s where the role of the chief financial operator (CFO) comes in. Contrary to what many people recognize, however there is much more to the title of CFO than simple financial responsibilities. Today, the world of finance and accounting moves much faster than it ever did before and it can be difficult to decide which areas are more critical to focus on. From industry demands to workforce evolution and technology change, a successful accounting team requires a comprehensive software that will evolve with the changing demands and job functions of the CFO.
A recent study by Ernst and Young in 2021 showed that bigger companies with more complex structures tend to use purpose-built systems seeking to address the specific needs and requirements of their organizations. Below are some more facts on the emergence and limitations of one-size solutions and the benefits of modern purpose-built entity management software.
However, age-old and inefficient processes can ultimately slow down risk management, thus causing a greater liability and financial cost to a company. Here’s what you need to know about how hygienic entity management can speed up processes known as KYC and aid your company in maintaining financial compliance.
A central source of truth can further your digital transformation initiative, help you move closer toward overall productivity goals, and empower your legal team to operate more efficiently.
In the last survey by Ernst Young, 89% of legal departments reported challenges with their entity management. Given the spiraling change in the regulatory landscape and an ever-growing number of legal entities, these concerns make implementing the most advanced entity management software a priority task.
One of the main questions organizations are facing today is how to recession-proof their businesses and stay afloat during economic hardships.
In today’s digital era, increasingly complex technology and business regulations has become the norm. For any growing company, the need to adapt to these complex changes is imperative—it’s either that or perish. While all employees have their own battles they must face, the CFO (chief operating officer) and accounting team members are fighting to meet standards, brave regulations, and comply with rules in order to protect themselves and their employees from potential liabilities and financial penalties.
While it is understandable to feel a sense of anxiety when it comes to managing your entity related requests and legal operations in-house, doing so allows you to increase oversight of business operations without having to rely on an external third party with sensitive business information. Ultimately, there are several benefits that businesses uncover when they move entity related requests in-house.
According to the Wolters Kluwer 2022 Future Ready Lawyer Survey, entity management software is widely considered one of the most important technologies for modern legal departments and law firms. The shift from antiquated methods to a more dynamic entity management software solution is largely fueled by compliance concerns. Aging technology stacks simply cannot meet the growing regulatory requirements facing the 21st-century legal industry.
If your department experiences challenges with entity management or relies on finance and tax teams to complete compliance tasks, you are not alone. According to the EY report, 90% of organizations have concerns about their entity management, while most of them have to pull resources from tax, finance and accounting departments to address their compliance-related needs.
The term “compliance” elicits feelings of frustration among organizational leaders the world over. It seems like emerging state and federal regulations are constantly moving the proverbial goalposts just as businesses think they have overcome their biggest compliance challenges. The good news is that your organization can break the cycle of frustration. In order to accomplish this, you have to reconsider the way you view compliance.
After gathering this preliminary information from participants, Deloitte researchers took a deep dive into key issues facing the legal operations industry. While all of the statistics provided in the Deloitte report provide insights into the current state of legal operations, four particular data points jolted the industry. These notable statistics are as follows:
In most cases, collaboration issues can be attributed to a lack of company alignment. If you want to maximize the productivity of tax, legal, and finance, all three departments must be in line with organizational leadership.
Today, many businesses rely on their Governance, Risk and Compliance processes to steer their organizations toward their goals, manage risks and ensure compliance with regulatory requirements. However, many of these businesses have inherited old approaches that don't work well in the ever-changing legal environment and don't allow them to scale up effectively.
At the surface level, subsidiary management is an incredibly straightforward concept. However, the waters quickly become muddied when one attempts to operationalize subsidiary management. It can be incredibly difficult for the following reasons:
Large entities' corporate structures serve as the foundations for their success. A well-designed corporate structure will help a business move toward its goals within its respective industry. The structure will also improve collaboration and cooperation between departments, teams, and individual staff members.
One of Athennian’s priorities since day one has been to create partnerships with our customers that last forever. We prioritize receiving customer feedback through various surveys in Athennian, plus our built-in Feedback Center. We say we love our customers. But how do we actually show you that we’re listening?
A tax and accounting law firm with clients around the globe, Moodys’ trans-national tax law services are in high demand.
A legal technology consultant requires best-in-class entity management software. Read about Chiang Consulting and how they use Athennian's entity management with their clients.
Benevity is the global leader in corporate purpose software, with clients that include brands such as Starbucks, Microsoft, Merck, and Visa. Since its founding in 2008, Benevity has expanded to over 1,000 employees in many countries around the world. As a result of the expansion, Benevity's in-house legal team realized that their legacy entity management software would need to be updated and found Athennian to be the right product fit.
Despite the team’s deep technological expertise and focus on innovation, Oziel Law struggled with its previous entity management platform. The software was not user-friendly and lacked a data backup mechanism. It was clear that the company needed to implement cloud-based business entity management software.
After their merger into Dentons, Bingham Greenebaum LLP (DBG) learned that their legacy corporate subsidiary management software was phasing out of business. A transition to modern business entity management software was both critical and time-sensitive. See how Athennian brings productivity and time savings to the DBG team.
Commvault's operations require numerous corporate compliance processes, often with short timelines that require speedy delivery of sensitive documents. See how Athennian reduced costs and improved processes for this legal operations team.
Here are real stories from Athennian users who've upgraded their entity management to a cloud-based, secure, and intuitive software!
Discover how Athennian helped a national law firm in Canada migrate data from two regional databases to create a collaborative, secure and cloud-based entity management environment for their national team of paralegals and law clerks.
Learn how a small paralegal company with a commitment to technology solutions and up-to-date workflow, leveraged Athennian’s features to suit their unique needs.
Learn how a one-woman paralegal team at Inter Pipeline, a mid-sized company with 20+ subsidiaries, uses Athennian to expedite and ease her entity management workload.
Learn how an in-house legal department migrated their data from spreadsheets to Athennian’s cloud in order to better manage their data, collaborate more efficiently, and save time in their day-to-day processes.
Discover how a large healthcare organization with locations around the U.S. uses Athennian to maintain compliance & onboard new paralegals seamlessly.
After working with an outdated database that required cumbersome and manual processes, KMSC Law LLP decided to upgrade to the cloud, and reap the benefits of modern technology. Discover how Athennian supported KMSC Law LLP in their migration from ALF.
Discover how Athennian helped one of the largest private Canadian companies migrate from a counterproductive and fragmented cloud-based entity management provider to save time and optimize workflows.
Discover how Athennian supported Abrahams LLP in their transition from MinuteBox, after experimenting with the platform and realizing it could not support their modern team.
Discover how Athennian helped Dunn Carney LLP gain more control over their work day by upgrading to Athennian, and eliminating cumbersome processes in their previous entity management system.
In this guide, we'll cover the key basics you and your team should know before you begin the onboarding process. First, we'll introduce you to the Athennian teams who will support you throughout migration. Next, we'll give you an overview of the various levels of migration support Athennian offers, and a guide to the Athennian training process. Finally, we'll provide you with an onboarding roadmap, migration checklists, and tips and tricks from the experts on the Athennian team.
Simplify your compliance journey and ensure seamless UBO reporting processes. This guide provides practical examples from various countries' UBO regulations and covers the key facets software should possess to assist you in complying with UBO regulations effortlessly. Gain invaluable insights into UBO compliance, empowering your organization to meet regulatory requirements effectively and avoid potential penalties.
The journey of mergers and acquisitions can be complex and overwhelming, but we've streamlined the process for you with our Due Diligence Checklist––a comprehensive guide designed to simplify your process and maximize your chances of success. Identify potential risks, seize hidden opportunities, and navigate the intricate web of legal, financial, and operational considerations. Download our checklist now and empower yourself with the knowledge and insights needed to conquer M&A due diligence.
Entity management software responds to a growing need across industries. From major corporations and financial services providers to tax and legal organizations, entity management challenges impact many aspects of business function. The right EMS is mission-critical.But in a marketplace crowded with software options, what should a buyer consider before purchasing?
Complete the assessment below to gain access to practical resources for improving your corporate governance maturity, including expert advice on corporate governance frameworks, ESG compliance, risk management, & more!
A Guide to ESG Reporting, Investor Expectations, & Governance Best Practices
Leverage this template to manually track entities, ownership structures, and compliance requirements. Organize percentages, entity types, critical dates for filings and renewals, and more!
Increase client confidence and find the answers you need in seconds by centralizing business data in Athennian. Unlock best-in-class security standards and workflows to automate reporting, compliance, regulatory workflows, ownership, and more
Entity management software is a business-critical tool for collaboration and compliance that aligns legal, tax, and finance departments. Having a central living source of truth where data can be accessed securely from anywhere allows organizations to increase business velocity while maintaining clean corporate data.
Download our 2023 report for upcoming trends, industry benchmarks, and more relating to the state of entity and subsidiary management.
This eBook, written by Ginevra Saylor (National Director, Innovation and Knowledge Programs at Gowling WLG & President of the International Legal Technology Association) describes how legal teams can improve efficiency, operations, and increase employee engagement with technology.
Written by Peter Nguyen (SVP, Legal, Associate General Counsel, and Assistant Corporate Secretary of The Descartes Systems Group Inc.) this eBook outlines how changing regulations have stress-tested the ability of corporations to respond swiftly. Meanwhile, reputation management has never been more important - as the lines between negative public sentiment and regulator enforcement grow closer. Good corporate governance is both increasingly more demanding and more difficult.
Without proper entity management, a law firm can face reputational and regulatory risk that hinders their operational function. In a recent survey conducted by EY, 89% of companies reported escalating challenges in managing their legal entities. Learn more about how a law firm can best manage their entities to combat these rising challenges by downloading this eBook.
Without proper entity management, an organization can face reputational and regulatory risk that hinders their operational function. In a recent survey conducted by EY, 89% of companies reported escalating challenges in managing their legal entities. Learn more about how an in-house team can best manage their entities to combat these rising challenges by downloading this eBook.
Is your current entity management system functioning the way it should? Take our short assessment to discover where and how to upgrade your existing system to maximize productivity and profitability.
Today, legal professionals face unprecedented challenges due to globalization, changing technology, cybersecurity threats and the shift to hybrid workspace models. With high volumes of entities in a multijurisdictional setting experience, there is added pressure due to the growing need for standardization, transparency, and concurrent centralization of entity management and governance.
Learn more about maximizing your efficiency with best-in-breed software by downloading our eBook which includes the benefits of cloud-based software, Athennian case studies and more!
Curious to see how your organization’s operations function when compared to industry benchmarks? Take our short, interactive assessment to determine your legal operations maturity status, and receive customized recommendations and improvement areas.
Avoid friction and delayed transactions by unlocking the legal industry’s best practices for corporate subsidiary management.Corporate entity information is business-critical data that makes its way into nearly every business process. Most seasoned legal professionals have seen transactions delayed because subsidiaries are not in good standing, have outdated appointee records, or encounter other administrative friction.Download the eBookThis eBook Covers:Why subsidiary management is so hard to operationalize.Alignment on subsidiary governance framework.Why subsidiary management is important.Data governance in legal entity management software platform.Ongoing management of subsidiaries.
The Canadian Legal Innovation Forum published its first annual "Legal Department Innovation" report, focused on measuring innovation in Canadian Legal Departments.The report, released on July 13th, is free to download and provides key insights on the future of legal technology and innovation.Download Here
Athennian COVID-19 Research ReportOur research report polled legal professionals around the world to find out how COVID-19 has affected them. Find out what your teams are saying and what they need in order to succeed. Access the Report
Jumpstart Your Entity Management TransformationInvesting in a purpose-built entity management system is the best way to ensure that you have the specialized functions you need to optimize your team's productivity. Ensure you find a platform that mitigates legal compliance risk, increases efficiency, and has top-tier security systems by downloading our Entity Management Starter Kit, where you'll find case studies from real users, an assessment checklist, and more.Download the Starter Kit
Real Experiences with a Modern and Intuitive Entity Management SoftwareIt’s never been more necessary to access documents remotely and with ease. And with today’s rapid pace and the demand for swift and streamlined collaboration and communication, cloud-based data management is integral to efficient business.Below is a compiled list of success stories from customers who transformed their daily workflow by switching to a modern and scalable entity management system. Download Here
This webinar, featuring Chartered Corporate Secretary and International Governance Professional, Onyeka Nweze, will explore the day-to-day challenges of the Corporate/Company Secretary. Engage in discussions on subjects such as technology trends, tips for effective leadership, strategies for personal growth, and the future of corporate compliance. Learn how this critical role contributes to your organization's overall compliance and governance and discover best practices and tech secrets for eliminating complexities.
Gain exclusive insight into our product in this Live Demo featuring Athennian's product specialists and corporate governance experts. Explore specific pain points, dive deeper into our powerful solutions & get to know how Athennian can work for your organization in a low-commitment & hands-on way.
In this webinar, attendees will gain invaluable insights into the crucial role of entity management in the mergers and acquisitions (M&A) landscape. Learn the essential features and functionalities of software that streamline and enhance the efficiency of corporate transactions. Discover how entity management software empowers organizations to effectively manage entity data, ensure compliance, mitigate risks, and optimize post-merger integration processes. Don't miss this opportunity to acquire practical knowledge and best practices to maximize the success of your M&A endeavors.
This webinar, featuring Republic's legal operations manager Caroline Keller, will provide professionals with valuable insights into how entity management software can help maintain efficient global legal operations. Discover best practices for managing legal entities across multiple jurisdictions and hear real-world examples of how software has helped organizations transform their legal operations from a state of chaos to one of compliance.
The Athennian Unlocked series provides valuable insights and practical advice for organizations looking to improve entity management processes, streamline business workflows, and learn from industry professionals about upcoming market changes. Experts share their expertise on a range of topics, including compliance, corporate transparency, governance, and risk management, and provide actionable tips for businesses of all sizes.
Access Athennian’s Next Generation showcase webinar! You’ll get to see our top product innovations of the last quarter as well as a glimpse into what’s coming in Q2. Our product and product marketing teams will present live demos and end the session with a Q&A. Get ready to discover even more ways to scale your central source of truth!
This webinar, hosted by Adrian Camara (Co-founder & CEO of Athennian) and Paul Sutton (Founder of LCN Legal), will dive into a causal analysis of corporate scandals and oversights that have led to severe financial and criminal penalties. Discover tangible ways to prevent the mismanagement of corporate data that befell companies like BlackRock & Holcim.
In this webinar, Kirsten Hansen (Director of Customer Success, Athennian) will outline best practices for adopting new technology, including change management, goal setting, and drafting a communication plan.Learn about the first-hand onboarding experience of Caroline Keller (Legal Operations Manager, Republic) and discover how her team’s technology choices have improved the operational challenges she faced as her organization grew. Unlock practical solutions for legal challenges, tips for taking on a technology project, and specifically, the pain-points that led her to adopt a cloud-based entity management software.
Hosted by Nicole Burch (Athennian) and featuring guest speakers, Tara Kim Eberhart (IPMA) and Mary Munro (Borden Ladner Gervais LLP), this webinar will outline best practices in making the most of a career as a paralegal or corporate law clerk. Learn the strategic career moves of senior-level professionals, discover essential tools to network effectively, and understand how to leverage skills to make your own strategic moves.
Dive deeper into Athennian during this live demo hosted by product marketing specialist Sydney Lawson and featuring panelists Kyle Marks (Director, Product Growth) and Jay Hedges (VP, Sales). Explore Athennian's most popular features, discover it's transformative workflows, and learn why hundreds of business professionals choose Athennian to power their entity and subsidiary management.
CLOC talk host Jennifer McCarron is joined by Carl Morrison, Director of Legal Operations and the Cosmopolitan Las Vegas, Tom Stephenson, Director of Legal Operations at Credit Karma and Kyle Marks, Director, Customer Success at Athennian. They discuss why legal operations professionals can leverage a tech stack, and why entity management software should play an integral role in that tech stack.
This webinar, hosted by Athennian CEO Adrian Camara and Customer Success Manager Charlé West, featuring guest speaker Michael Kline, Partner, and Assistant General Counsel at Fox Rothschild LLP, will provide a high-level overview of the new U.S. Corporate Transparency Act. Learn what FINCEN's Beneficial Ownership regime means for legal teams and how best to approach these upcoming challenges. Determine the risks and penalties for non-compliance, and unlock tech best practices to stay abreast of the new changes.
In this webinar, hosted by Nicole Burch (Athennian), Lindsay Bushong (Athennian), and Paul Sutton (LCN Legal), learn why businesses with out-of-control legal entities lose millions of dollars, what critical pieces of data to watch for when managing your entities, and how to avoid lapses in management that leave devastating results.
In this community webinar, hosted by Nicole Burch (Athennian), Tony Sipp (Manning & Kass, Ellrod, Ramirez, Trester LLP), and Karen Tuschak (Spider Silk Innovative Solutions), learn the significance of soft skills. Discover ways they can unlock career opportunities and learn tactical ways to identify the skills you already have and the ones you hope to develop.
What is legal operations? Do my skills as a paralegal transfer into this role? Discover proven ways to transition from paralegal to legal ops. Hear from Tom Stephenson (Legal Ops, Credit Karma) and Carl Morrison (Legal Ops, The Cosmopolitan Las Vegas) as they walk you through their career move, unlock ways to leverage legal operations to enhance your organization's workflow, and more!
In this webinar, Terry Falk, Nicole Burch, and Lindsay Bushong (Athennian) spoke with Legalweek speaker, Karen Tuschak (Spidersilk Solutions) about industry topics, upcoming legal trends for the year ahead, and a deeper exploration of what was covered at Legalweek 2022.
For most legal teams, partnering with a new technology vendor is a huge undertaking that goes far beyond the simple signing of a contract. In fact, successfully adopting and onboarding a new technology requires healthy preparation, strategic change management strategies, and thorough technical practices. This webinar, hosted by Karen Tuschak of Spider Silk Innovative Solutions and Nicole Burch and Kirsten Hansen of Athennian, will outline best practices to ensure your new technology partnership is streamlined, effective, and destined for success.
In this webinar, Nicole Burch and Terrie Williams will discuss the benefits of transitioning to cloud-based entity management software, compare spreadsheet workarounds to automated solutions, and hear from real legal professionals who have upgraded to the cloud and enhanced their daily productivity and profitability.
This webinar, hosted by Nicole Burch (Athennian) and with guest speakers Angela King (Dentons US) and Laura Hopkinson (Dickinson Wright LLP), will discuss best practices for meeting your 2022 billable hour requirement, how to manage lawyer and client expectations, and more!
In this webinar, hosted by Athennian’s Nicole Burch and Terry Falk, and thought leader Karen Tuschak (Dentons & Spider Silk Innovative Solutions) we’ll discuss the intricacies of budget planning. Learn what to prioritize in terms of financial investment and how to advocate for your most pressing needs. Discover positioning strategies for explaining ROI, and unlock best practices for using tech solutions for future-proofing your legal operations.
Bring Confidence to Your ReviewIn this free webinar, hosted by Nicole Burch (Athennian), Angela Darrah (Gowling WLG), and Kathy Anderson (Bennett Jones LLP), we’ll discuss the importance of a paralegal or corporate law clerk’s performance review. Learn best practices for preparing for your review, tips for giving and receiving feedback, and how to hold yourself and your team accountable with a follow-up plan. Discover ways to use your review to your advantage, advocate for yourself, and more with three high-level and experienced corporate services professionals.What We Covered:The significance of performance reviews.Setting the right environment for your review.Feedback: How to give and receive positive and negative feedback.Staying accountable with a follow-up plan.
In this Webinar, Kenny Laurin and Nicole Burch (Athennian) discuss the benefits of document automation with Karen DiMartino (Cassels LLP). Learn why consistency and efficiency are critical to daily workflows and how you can achieve it through leveraging technology. Discover best practices for successful document automation, unlock tips for grasping the learning curve, and hear how a legal professional with a limited tech background was able to transform her productivity through mastering legal coding. Access the WebinarWhat We Covered:The common challenges in legal document coding.How to be successful in document automation through repeatability and clearly defined processes.How to evaluate the scope of your automation project.How to approach document automation with limited prior coding knowledge.
In this webinar, Charlé West and Lindsay Bushong of Athennian will discuss the benefits and practical implementations of department-wide operational alignment. Discover solutions for optimizing workflows, developing and maintaining auditable systems, collaborating on standardized documents, and more! Learn practical ways to actualize company-wide efficiency for a streamlined and profitable department.Access the WebinarWhat We Covered:How to organize task management, such as corporate transactions & annual report filings.Tips for improving interactions between legal teams and other departments.Processes for maintaining consistent legal documents and forms.Automated solutions for efficient workflows that maintain data integrity.
What We Covered:What is entity management and current challenges facing legal teams?How technology can be leveraged to streamline entity management.Why legal teams should invest in entity management software?How Athennian can help.
In this webinar hosted by the Canadian Legal Innovation Forum and Athennian, discover how a major law firm is centering a key pillar of their innovation strategy on the process of digitizing their minute books.
Paraprofessionals know how complex it is to balance a laundry list of priorities and, at the same time, manage “urgent” tasks assigned by various lawyers and clients. It can feel daunting to ensure that everyone’s needs are met while maintaining a steady workflow and efficient time management. How are paraprofessionals navigating these tricky situations?Join Canada's top law firm managers in discussing their experiences. We'll also be evaluating topics such as: How to work and communicate with different personalities in the workplaceHow to establish strong and long-lasting professional relationships while creating a brand for yourself in the industryAccess the WebinarWhat We CoveredHow to work and communicate with different personalities in the workplace.How to establish strong and long-lasting professional relationships while creating a brand for yourself in the industry.
What We CoveredThe stress of docketing.Solutions to help capture billable time.
What We Covered:What went wrong during Coca-Cola's IRS transfer pricing dispute.How to avoid that moving forward.Technology's role in eliminating risk.
What We Covered:Feeling overwhelmed by an increase in meetings?How to stay productive without feeling overwhelmed by demands.and more!
What We Covered:What kinds of structures are law firms putting in place to help the paralegal function thrive and deliver results?How are law firms scaling the scope of work done by paralegals up the value chain?How is the paralegal function evolving as a key driver of innovation for law firms?
Paraprofessionals play central roles in helping their law firms deliver value. And having the right people, processes and technology in place is a key pillar of them contributing to law firms’ success.What We Covered:How has the pandemic change working in the legal space?How can firms do to deal with all the new legal tech flooding the market?What firms can do to effectively deal with resistance to new technology among paraprofessionals?
In the rapidly changing world of corporate governance, streamlined data access isn't just a perk—it's a necessity. Enter Athennian: reshaping the landscape with its latest roles and permissions enhancements, giving administrators unparalleled control over data access dynamics.But what does this mean in real-world scenarios? How does Athennian's advanced system play out on the ground, whether you're in the heart of a bustling law firm or the complex web of a multinational corporation? Let's dive into a couple of illustrative use cases that showcase Athennian's adaptability.
As we strive to provide you with an exceptional experience, we're excited to announce a series of updates and improvements to Athennian this month. These updates are designed to make your workflows smoother, document generation more versatile, reporting more insightful, and navigation more intuitive. Let's dive into the details of what's new:
Tailor your Athennian experience with new data customization and viewing capabilities.
We’re excited to introduce the latest version of our cloud-based entity management and business workflow platform: Athennian Next Generation. Athennian Next Generation allows business teams to scale their central source of truth.
n August 2020, Athennian acquired Redox Technologies, a software company focused on building corporate org charts. This was our first step to offering org charts that represent the corporate structure of a group of entities better, more efficiently, and more intuitively than before. The main initiative of this project was to replace our initial org charting engine with Redox, enabling us to ensure data integrity in org charts and more accurately structure data in an easy-to-use interface. With this new engine, we have opened the door to take our org charts to the next level. At first glance, this will be most noticeable through the cleaner and more modern appearance. You can expect to be able to do everything you can do in our existing org charts, plus more. With the upgraded engine comes some new and exciting features. Read on to learn about what you can expect with this new update in Athennian.
The Athennian integration with iManage Cloud makes maintaining documents and managing entities even easier by enabling the products within your daily workflows to communicate with one another.
We are always looking for ways to better serve you. With our all-new Athennian Resource Center, you’ll be able to reach our support team and access missions, videos, and help articles all in one place!
In the month of August, Athennian’s product and customer success teams worked hard to bring significant updates to the platform, based on user feedback. We focused on improving the most commonly used features in Athennian: Document Automation, Transactions, Virtual Minute Books, and Entities.
Athennian is the best place to manage documents, transactions, share certificates, org charts, and other types of dynamic entity data. As we quickly progress through the summer months, our product team has made great strides towards building out important new features that will exponentially increase flexibility and customization in Athennian.
Closing dates, per-share purchase prices and other variables often change during a transaction. Updating each variable one-by-one across dozens or hundreds of issuances is extremely time consuming.
Signature blocks are a critical component of high-volume documents used in legal entity and corporate secretarial management (for example, board consents, shareholder resolutions, and stock certificates).
Athennian users provide us with thoughtful, practical feature updates that we aim to incorporate into our product updates. Athennian’s platform updates makes entity management even easier, with updates and new feature releases occurring every week.
In the month of April, Athennian’s product and customer success teams worked hard to bring significant updates to the platform, based on user feedback. We focused on improving the most commonly used features in Athennian: Custom Reports, Virtual Minute Books, Transactions, and Teams.