UK-based insurance firm Torus has today laid claim to being the first company in the UK to hold entirely paperless board meetings following a trial using iPads.
At a board meeting in Bermuda last week, the company's directors left their four-inch thick paper board packs behind and instead used iPads to review documents and work with materials during the board sessions. Prior to switching over to the iPad, Torus was typically printing 1,600 pages for each pack and couriering the material to directors based in Bermuda, Jersey City and London.
Torus says that the savings in printing and courier charges meant that the iPads paid for themselves after just one meeting.
"Our iPads also enable the board to view board pack modules as and when they're written in advance of each meeting. Once the pack is complete, we then receive it as an iBook. It is a compelling way to work - at our last board meeting everyone was engaged with the business in hand."
Tim Fillingham, chief operating officer for the UK and chief marketing officer at Torus.