Board portals serve as the central repository for all information about the board that allows directors to access the latest and relevant information from anywhere. This enables them to efficiently prepare for meetings, manage tasks and collaborate on projects with colleagues. Board members can be authorized to sign documents using digital signatures. This means that there is no need for costly printing and distribution.
The use of a board portal can allow companies to save substantial expenses and resources, while enhancing efficiency and effectiveness. It is essential to think about the specific requirements of your organisation when choosing a board management solution. You should select a provider who has competitive pricing along with solutions that meet your board’s requirements.
In the past, Boards would receive a board meeting pack made of paper via couriers, which could take days to be delivered and opened. A board portal can reduce the amount of time to just a few hours and provide meeting agendas, presentations and reports, as well as other documents to the attendees immediately. It is also possible to conduct a video-telephony conference within the board portal itself providing a single experience for directors.
It is crucial that the portal selected for the board is secure, with features like encryption of data and password complexity controls as well as tracking of user activities to reduce the risks of access by unauthorized persons. It should also be able of demonstrating conformity to industry standards like ISO 27001 and SOC 2 certifications, as well as facilities that offer the physical, human and procedural security measures.
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