top of page
Search

Change & Reinvention: Critical Success Factors

Opinion piece by Arnold Spruit, advisor to Governance.com

Leaving drinks with Governance.com: A company which first sparked my attention several years ago in the form of two eager twin brothers, Bert Boerman and Rob

Boerman, passionate and determined to help the industry transform through their

cutting-edge process automation platform.


Nearly ten years on, now a globally active and successful specialist business, why did I

step down as a Board member?


Change and reinvention are critical ingredients for success.

This applies as much to a person, or industry, which needs to embrace technology to

remain agile, modern, and digitally mature, as it does to Governance.com.



It has been nearly ten years since regulatory and compliance pain points led to the

birth of the Governance.com platform to automate related processes.


Both the industry and Governance.com have experienced ups and downs over this

time. I witnessed that the Covid pandemic, in particular, proved a pivotal point for

both, and these offer us examples of successful periods of change and reinvention.


The industry realised that digitalisation does work; that virtual working has its positive

side. The forced lockdown and virtual working served as a catalyst for financial

institutions to digitalise more of their operations. 97% of asset managers now cite

digitalisation as a top priority.


Meanwhile, at Governance.com, we strategically pivoted from focusing on small digital

transformation projects for the broader financial industry to concentrating on the

asset management sector and large-scale enterprise projects.


In 2021, Governance.com signed the highest number of deals in its history and saw

132% growth. Apex Group and TMF Group were the first enterprise groups to roll the

platform out globally. This year the company continued to grow rapidly and scaled up

its team to over 30.


What changes and reinventions are next?

Geopolitics finds itself centre of the world stage in place of the pandemic. We observe

a nod towards a more challenging economic climate.


For the industry, we see a shift from regulatory burden to the client experience as the

driver for digitalisation, with client centricity as the top priority. Those that

successfully turn their compliance process challenges into their competitive edge through

digitalisation will stay ahead. Cost and efficiency savings through digitalisation will

also spur digitalisation in the new economic climate.


And Governance.com?


I am excited that the company can benefit from fresh perspectives and expertise

appropriate for the next stage in its journey.


My stepping down as a Board member has helped make room for this. New Board

members Robert Glaesener and Georges Valsamidis are already helping to lead

the company to new heights strategically.


Governance.com remains as ambitious as ever in its determination to help the asset

management industry to transform. While the company works to continue to grow

globally in its operations in 2023, Luxembourg will always remain a critical hub for this

FinTech’s contribution to digital transformation.


What will the industry be asking for as we move into 2023? To go digital – not just talk

about it, but progress beyond the barriers and become more digitally mature. Both for

the approach to going digital and execution, Governance.com is ready with the

solutions. Governance.com’s recent RegTech100 listing as “one of the world’s most

innovative RegTech companies that every financial institution needs to know about in

2023” is a testament to this. The company has been listed a “RegTech100” for the third

year running and is the only Luxembourg-born FinTech to make it to the 2023 list.


So as a friendly and fond farewell to my Governance.com Board membership, I raise

my glass to an intense yet satisfying several past years for the company and industry

at large. I am happy to stay on board as an advisor and help the company wherever I

can. I look forward to an ever-ambitious new year ahead and further years of growth

and development for the company.