A board portal is an online software that allows directors and executives to collaborate and share information. It also facilitates meeting preparation and governance, which allows for better decision-making.
Modern board management software is more secure than file-sharing and email platforms, which could be easily hacked and leak sensitive Board materials. It employs robust encryption techniques as well as multi-factor authentication and high-security storage of data to protect board documents. Furthermore, it makes sure that only authorized people are able to access sensitive information by setting up advanced security permissions as well as access controls.
Another major benefit of a dependable board portal is that it complies with the policies of your organization regarding data retention and provides a record of every communication between Board members. This reduces the risk of legal liability, and can save time and money through the reduction of administrative tasks in the management of documents and board meetings.
A good board portal is easy to use and enables your Board of Directors to function the way they work. Whether they are on the road or at home, they can continue to make informed decisions and engage in strategic discussions through an intuitive, mobile-first platform that works with their preferred devices.
Getting the buy-in of best practices for board meetings key stakeholders in your board is crucial to ensure that your brand new portal will be implemented successfully. For instance, it’s best to include your chief information officer or the person in charge of governance or compliance, as well as IT advisors in the planning phase to address any questions or concerns they might have.
