Board portals are a central repository for all information about the board. They allow directors to access up-to-date and relevant material from anywhere. They can then prepare for meetings, organize their tasks and collaborate with colleagues on projects. Board members can be authorized to sign documents using digital signatures. This reduces the cost of printing and distribution.
The use of a board portal enables organisations to save significant costs and resources while enhancing efficiency and effectiveness. It is essential to consider the specific needs of your organisation when choosing a solution for managing your board. Ensure you choose a vendor that offers competitive pricing and solutions that meet your board’s requirements.
In the past, boards received paper-based meeting packs via courier. It could take as long as several days for them to be opened and received. A portal for board meetings can cut the amount of time required to a few hours https://fitboardroom.com/what-is-the-difference-between-bcp-and-disaster-recovery-planning/ and provide agendas for meetings, presentations and reports as well as other materials to attendees in a matter of minutes. It is also possible to hold meetings via video in the board portal itself providing a single experience for directors.
It is essential that the portal used by the board is secure. This includes features like data encryption and password complexity controls and also tracking user activities to reduce the risk of unauthorised entry. It should also be able to demonstrate its compliance with industry standards like ISO 27001, SOC 2 certifications and facilities that provide physical and procedural security.