A board portal is a cloud-based software application that allows directors, executives, and other senior leadership team members to effectively collaborate and share information. It also aids in streamlined meeting preparation and governance processes that allow for better decision-making as well as improved governance outcomes.
Modern board management software is more secure than email or file-sharing platforms, which could be easily hacked and leak sensitive Board documents. It uses strong encryption techniques that include multi-factor authentication as well as high-security data storage to safeguard board documents. Additionally, it ensures that only authorized individuals have access to sensitive documents by applying advanced security permissions and access controls.
A reliable portal for Boards will help your company’s policies for retention of data and keeps the records of every communication between Board members. This helps reduce the risk of liability and it also saves you time and money by reducing the amount of administrative tasks associated with meetings and management of documents.
Additionally, a good board portal is easy to use and allows your Board of Directors to function according to the way they work. When they are on the road or at home, they can continue to make informed decisions and participate in strategic discussions with the help of an intuitive mobile-first platform that works with their preferred devices.
It is essential to secure the support of key stakeholders within your board to ensure that your new portal is successful in its implementation. It’s crucial what is a board portal to include your chief info officer, the person responsible for governance or compliance and IT advisors at the planning phase to discuss any concerns or issues they may have.