Board portals offer a central repository of all information on the board that allows directors to access current and relevant information from any place. This enables them to efficiently prepare for meetings, manage their tasks and collaborate on projects with colleagues. Board members can be authorized to sign documents with digital signatures. This eliminates the need for expensive printing and distribution.
Implementing a board portal can help companies save money and resources while increasing their efficiency and effectiveness. When selecting a board management system, it’s crucial to take into account the specific needs of your company. Select a vendor that provides solutions and prices that meet the requirements of your board.
In the past, Boards would receive paper-based meeting packs for board meetings via couriers, which could take days to be delivered and opened. With a board portal, the process can be cut down to a matter of hours, and meeting agendas, reports, presentation and other materials can be mailed directly to the attendees. It is also possible to conduct an audio-telephony meeting inside the portal for board members and provide a unified experience for directors.
It is essential that the board portal selected is secure. This includes features like encryption of data and password complexity controls, as well as monitoring user activities to reduce the risk of unauthorised access. It must be able to demonstrate security compliance with industry standards such as ISO 27001 and SOC 2 certifications, and facilities that provide the physical, human and procedural security measures.