I ran Kindle software Product Management for 3 years. Left in 2014 AMA about the memo process or OP1/OP2 process.
Did you ever feel like it was a waste of time or do you feel it genuinely added value to the company to engage in that exercise?
What I found, over time, was that the exercise of writing forces critical thinking. PowerPoint is corporate theater. Very easy to convince with your voice instead of facts, logic, data, and insight.
There were certainly times where I felt that the doc process was used unnecessarily as a blunt cudgel, but for the big decisions, and the planning process, it was incredibly helpful. As I have transitioned to working with companies as an investor, advisor, and board member, I have continued to use the templated FAQ docs for driving decisions. I am starting to get my teams to use them for board meetings.