Board portals are the central repository of all information about the board. They allow directors to access current and relevant information from anywhere. They can prepare for meetings, organize their tasks and collaborate with their colleagues on projects. Board members can be authorized to sign documents with digital signatures. This will eliminate the need for costly printing and distribution.
The implementation of a portal for boards allows organisations to reduce significant cost and time, while improving efficiency and effectiveness. It is essential to think about the specific needs of your organization when selecting the right board management solution. Choose a vendor that offers solutions and pricing that are suited to the requirements of your board.
Previously, boards were given paper-based meeting packs via courier. It could take several days for them to be opened and received. A portal for boards can cut the time to just a couple of hours and then send agendas for meetings, presentations and reports as well as other materials to attendees in a matter of minutes. The portal for board members can be used to host video-telephony conferences giving a seamless experience for the directors.
It is vital that the board portal chosen is secure, with features such as data encryption, password complexity controls and user activity tracking to reduce risks of unauthorized access. It must be able to demonstrate conformity to industry standards such as ISO 27001 and SOC 2 certifications, and facilities that provide physical, procedural and staff security measures.