Board portals offer a central repository of all information on the board that allows directors to access current and relevant material from any place. They can prepare for meetings, organize their tasks and collaborate with colleagues on projects. Board members can also be authorised to sign documents with digital signatures, removing the need for expensive printing and distribution.
The use of a portal for boards allows organisations to reduce significant cost and time, while increasing efficiency and effectiveness. When selecting a board management system, it’s crucial to consider the specific requirements of your business. Make sure you select a vendor that offers competitive pricing and solutions that meet the requirements of your board.
Previously, boards were given paper-based https://fitboardroom.com/what-is-a-board-portal/ meeting packs via courier. It could take up to several days for them to be opened and received. A board portal can cut the time to a few hours, and can send agendas for meetings, presentations, reports and other materials to attendees in a matter of minutes. The board portal can also be used to host video-telephony conferences and provide a single experience for the directors.
It is essential that the portal for board members chosen is secure, and has features like data encryption as well as password complexity controls, as well as tracking of user activities to reduce the risk of unauthorized access. It should also be able to demonstrate its compliance with industry standards, including ISO 27001, SOC 2 certifications and facilities that offer physical and procedural security.