A board portal is a web-based software that allows executives and directors to collaborate and share data. It also assists in streamlining the process of preparing meetings and governance that allow for better decision-making as well as improved governance outcomes.
Modern board management software is more read secure than email or file-sharing platforms, which can be easily hacked and leak confidential Board materials. It utilizes secure encryption techniques, multi-factor authentication, and high-security data storage for board documents. It also ensures that only individuals who have the appropriate permissions are able to access sensitive documents.
A dependable board portal helps your company’s policies regarding data retention and keeps an accurate record of all communications between Board members. This reduces the chance of legal liability and saves time and money with the reduction of administrative tasks in document management and board meetings.
Additionally, a good board portal is simple to use and allows your Board of Directors to work as they do. They can make informed choices, engage in strategic discussions and continue working on the go or at home with an intuitive, mobile-first platform that works with any device.
The approval of the key stakeholders on your board is essential to ensure that your brand new portal will be implemented successfully. For instance, it’s recommended to include your chief information officer, the person responsible for governance or compliance, and IT advisors in the planning phase to address any questions or concerns they might have.