Governance policies are indispensable components of Mastek’s management strategies. These governance policies and principles directly or indirectly influence the company’s objectives and its achievement, risk management and performance optimisation. Our global leadership team shoulders the responsibility of setting the strategic direction for the company and also overseeing the administration. They review the corporate governance guidelines and other documents regularly and modify the same to protect the best interests of the company and its shareholders and ensure compliance with the changing industry regulations.
The stakeholders' trust and confidence which is a direct reflection of the company’s financial and operational strength is the key part of Mastek’s corporate governance policies. Mastek’s board and committee follow the framework based on these governance principles to ensure that the company is ethical, achieves the highest levels of corporate governance and is responsible and transparent toward its stakeholders.
The company officials ensure that compliance and regulatory requirements are met when it comes to being transparent and disclosing necessary information about the company’s actions. Also, they reach out to the stakeholders regularly to share updates on the company’s progress or actions. We have detailed and effective governance procedures to ensure the company's business is followed in the intended manner and is at par with ethical and corporate governance standards.
Operational governance aligned with business strategy enables Mastek to deliver on its promise of constant growth and development. It addresses how a company’s decisions are made and executed. As operational governance drives corporate transparency, accountability and financial security, its absence results in structural inefficiencies that hampers our company's progress.
At Mastek, operational governance is at the heart of every crucial decision and business transaction. For example, while dealing with confidential information of customers, shareholders, partners and employees; and ensuring compliance with anti-corruption laws of different geographies. These governances form the charter and terms of reference of the board, its committees and management committees.
The third-party ecosystem is becoming vital for us as it helps us cater to the specific needs of our diverse customer base spread in different industries and geographies. We believe that efficient management of third parties not just enables us to have a competitive advantage but also helps in avoiding potential costs and reputational damage.
Mastek continues to align measurements, controls and deliverables of third parties with the company’s policies to standardize the risk and performance management processes. We measure the risks posed by third parties on the basis of several parameters such as business contracts, delinquency, and other inherent risks. These assessments enable us to make required modifications in the third-party ecosystem to maintain our customer’s trust in our capabilities.