A board portal is a cloud-based software application that lets directors, executives and other members of the senior leadership team to efficiently collaborate and share information. It also helps them streamline meeting preparation and governance processes, enabling better decision-making and enhanced governance results.
Modern board management software is more secure than file-sharing or email platforms, which could be easily hacked and leak sensitive Board materials. It makes use of strong encryption, multi-factor authentication, and high-security storage to protect documents on the board. It ensures that only those with the proper permissions can access sensitive documents.
Another key feature of a reliable board portal is that it supports the data retention policies of your company and records every communication between Board members. This reduces the risk of liability, and it also saves you time click to investigate and money by decreasing the number of administrative tasks associated with meetings and management of documents.
Finally, a quality board portal is easy to use and enables your Board of Directors to work the way they work. They can make informed decisions and participate in strategic debates and continue working at work on the go or at home with a mobile-first, intuitive platform that works on any device.
Achieving the approval of the key stakeholders on your board is crucial for ensuring that your new portal will be implemented successfully. It’s important to include your chief info officer, the person responsible for compliance or governance, as well as IT advisors at the planning stage to discuss any concerns or questions they may have.