A board portal is an online software that allows executives and directors to work together and share information. It also helps in meeting preparation and governance, allowing for better decision-making.
Unlike email or file-sharing platforms which are easily hacked, spilling confidential Board documents to the eyes of the public, modern board management software is secure. It uses strong encryption techniques that include multi-factor authentication as well as high-security data storage to protect board documents. It also ensures that only people with the proper authorizations are able to access sensitive documents.
A dependable board portal assists your company’s policy on retention of data and maintains the records of every communication between Board members. This helps reduce the risk of legal liability and also saves time and money through the reduction of administrative tasks in the management of documents and board meetings.
A good board portal should be simple to use, and allow your Board of Directors the freedom to work as they see fit. When they are on the road or at home, they can continue to make informed decisions and engage in strategic discussions using an intuitive mobile-first platform that works with their preferred devices.
Insuring the support of key stakeholders in your board is essential for ensuring that your new portal is implemented successfully. For instance, it’s recommended to include your chief information officer as well as the person who is responsible for governance or compliance, as well as IT advisors during the planning stages to address any questions or concerns they might have.