A board portal is a cloud-based application that lets directors, executives and other senior leadership team members to efficiently collaborate and share information. It also simplifies the process of planning meetings and governance, allowing better decision-making.
Modern board management software is more secure than email or file-sharing platforms, which could be easily hacked and leak sensitive Board documents. It employs strong encryption, multi-factor authentication and high-security storage to secure documents for the board. It ensures that only those with the right permissions can access sensitive documents.
Another key feature of a trusted board portal is that it adheres to the policies of your organization regarding data retention and keeps track of all communications between Board members. This helps reduce the risk of legal liability and saves time and money due to the reduction of administrative tasks in document management and board meetings.
A good board portal will be easy to use, and allow your Board of Directors to work as they see fit. They can make informed decisions and participate in strategic debates, and continue to work while on the move or at home by using a mobile-first, intuitive platform that works with any device.
It is vital to get the support of the key stakeholders on your board in order to ensure that your new portal is successfully implemented. For instance, it’s a good idea to include your chief information officer as well as the person who is in charge of compliance or governance, and IT advisors in the planning stage to address any questions or concerns they may have.
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