Aug 17, 2024
In an age where technological advancement is speeding up and a digital board management tool is now regarded as to business transformation be the norm rather than the exception in corporate governance. Boards that are forward-thinking adopting these tools and shifting away from paper processes. They are using board meeting apps to streamline their processes as well as manage information and communicate with colleagues.
A well-designed online portal for board members will help board directors as well as committee members save time by removing the need to browse the physical board pack or look through email threads for relevant information. It’s a single point of reference for information that makes it easy to access relevant materials as well as to manage tasks and collaborate with colleagues. Furthermore, the platform can be accessed from anywhere and on any device, making it simple to stay informed in all times.
Boards have lots of sensitive, confidential information to handle on a regular basis and it’s essential that the system they choose to use comes with added security measures that ensure the safety of their data. Board portals allow members to organize files into folders and store them in a central repository. They can also add passwords to each file to protect it from any unauthorized access.
Also, look for a solution that comes with an annotation feature that enables users to record notes and share them with other individuals in real time. A permanent purge function reduces risk as it ensures that deleted comments, discussions and annotations are not able to be recovered on any backup or server. It’s also important to find out whether the company is investing in support and development. You can determine this by looking at their reputation on forums, company ratings websites, and LinkedIn to find out how responsive they are.