Board portals provide an online repository for all information about the board that allows directors to access current and relevant material from any location. This allows them to effectively prepare for meetings, manage their tasks and collaborate on projects with their colleagues. Board members are able to sign documents with digital signatures. This means that there is no need for costly printing and distribution.
The implementation of a board portal can allow organisations to reduce significant costs and resources while improving efficiency and effectiveness. It is crucial to consider the specific requirements of your company when selecting the right board management solution. 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 by courier, which could take days to arrive and opened. With a board portal the process can be reduced to hours, and meeting agendas, reports, presentation https://fitboardroom.com/what-is-a-board-portal/ and other materials can be mailed out immediately to attendees. It is also possible to hold meetings via video in the board portal itself, which provides a unified experience for directors.
It is crucial that the portal chosen for board use is secure. This includes features such as encryption of data and password complexity controls, as well as tracking user activity to limit the risk of unauthorised access. It must also be able of demonstrating the security standards of industry like ISO 27001 and SOC 2 certifications, with facilities that provide physical, personnel and procedural security measures.