A board portal is a cloud-based solution that allows directors, executives, and other senior leadership team members to effectively collaborate and share information. It also aids in streamlined the process of preparing meetings and governance, enabling better decision-making and improved governance outcomes.
As opposed to file-sharing platforms or email which are easily hacked, spilling confidential Board materials to the scrutiny of a snooper, modern board management software is secure. It employs strong encryption, multi-factor authentication and high-security storage to secure documents for the board. It also ensures that only individuals who have the appropriate permissions are able to access sensitive documents.
A reliable board portal also assists your company’s policy on retention of data and maintains an accurate record of all communications between Board members. This mitigates the risk of liability and also saves time and money by reducing the number of administrative tasks associated with meeting management and document management.
A good board portal is simple to use and allows your Board of Directors to function as they do. They can make informed decisions and participate in strategic discussions and continue working from anywhere, whether at home using an intuitive, mobile-first platform that is compatible with any device.
Achieving the approval of the key stakeholders on your board is crucial to ensure that your new portal is implemented successfully. For instance it’s beneficial to include your chief information officer or the person in charge of governance or compliance, as well as IT advisors in the planning stage to answer any questions or concerns they might have.