BAS’s Virtual Open Door for employees, investors, customers & suppliers to communicate with the board. It is a tool and business process environment that encourages individuals to raise opportunities or issues that either gain no traction internally or are of a nature that discourages individuals from bringing them up through the corporate command structure. It provides a business process for communication, investigation and tracking. It is efficient, effective and thorough for issues meeting the requirements of the Sarbanes-Oxley Act.

Virtual Open Door Principles:

• Multi-faceted communication – Allows for opportunities as well as issues to be communicated
• Secure – A highly secure environment insuring private and confidential communication
• Anonymous – The communication can be anonymous or include the individuals contact information if they wish
• Confidential –The flow of information and BAS’s use is completely confidential and for the eyes of the board only
• Multiple Access Points – The web is the primary input source, however, we also support telephone and mail communications
• Validate – BAS through the use of resources and intelligent algorithms will ascertain the validity of the opportunity or issue
• Consolidate – BAS will provide consolidated information to the board on all communication, their status and resolution
• Objectivity – Complete objectivity is maintained by BAS

Virtual Open Door Process Elements

• Overview – The means to communicate with the board privately and confidentially
• Input – Using logic based screen input the opportunity or issue is identified with sufficient detail to investigate, qualify, and segment the item
• Tracking and reporting – The input is assigned a unique tracking number which will maintain anonymity and used for follow-up
• Investigation – Working with the board and management
• Resolution – Identify the appropriate resolution
• Response – All will be managed to completion with communication to the individual through their choice of means
• Secure Database – Maintenance and reporting structure for the board

Virtual Open Door is now a requirement

Having a confidential, anonymous reporting mechanism for employees is the law. The Sarbanes-Oxley Act of 2002 has made it a legal requirement for any publicly traded company.

The importance of knowing what is going on in the company before a lawsuit is filed or an incident shows up in the headlines has proven obvious to many Fortune 1,000 companies. There is significant value in being legally compliant and proactively informed.