“e-BDS: Electronic Board of Directors System" is an information system that enables holding meetings in electronic environment for board of directors of joint stock companies and management boards of other equity companies. With e-BDS, members of board of directors can legally participate meetings regardless of time and place, and board decisions can be taken instantly and signed with digital signatures.
Integration of new technologies into corporate life is reflected in board meetings and requirement for systems that reduce time and costs as well as providing quick access to information for directors have emerged. e-BDS aims holding of board of directors meetings electronically in a secure manner and enabling participation to meetings via audio and/or video broadcasting, casting of votes, sending of opinions and recommendations, signing of decisions on the secure electronic environment and reducing costs, in order to accelerate Turkey’s transformation into an information society.
e-BDS was designed as a dynamic and unique information system that allows all board meeting processes and protocols of companies to be conducted from a single center. Members of board of directors can convey their opinions and cast their votes through the electronic environment. Companies may opt to enable electronic signing of the decisions of board of directors only, without having to hold an electronic meeting. Moreover, e-BDS will be hosted in companies’ IT systems and all related information and documents will be uploaded to the system in encrypted files. Users will be able to log in to the system only with secure electronic signatures.
With e-BDS, board meetings can be held legally without physical attendance, saving time and providing cost-effectiveness, as the system allows members of the board to take decisions instantaneously. e-BDS will increase profitability by providing efficiencies in operations in overcoming physical difficulties and by capturing opportunities for companies.
As in e-GEM practice, through removal of barriers to cross-border voting in our country, e-BDS will significantly contribute to the improvement of corporate governance practices in Turkey and also increase foreign investors’ interest in the Turkish capital markets.