What is a Board Portal?
Board portals provide an online repository for all information about the board Directors can access current and relevant information from any location. They can prepare for meetings, manage their tasks and collaborate with their colleagues on projects. Board members are able to sign documents using digital signatures. This reduces the cost of printing and distribution.
The implementation of a portal for boards allows organizations to cut down on significant cost and time, while improving efficiency and effectiveness. When choosing a board administration system, it’s important to consider the specific needs of your business. Choose a vendor with solutions and pricing that are suited to the requirements of your board.
In the past, Boards used to receive board meeting packets in the form of paper via couriers, which could take days to arrive and opened. With a portal for board meetings, the process can be reduced to hours, and meeting agendas, reports, presentations and other materials can be sent out instantly to attendees. The board portal can also be used to host video-telephony conferences giving a seamless experience for the directors.
It is crucial that the portal selected for the board is secure, and has features like encryption of data and password complexity controls as well as user activity tracking to reduce risks of unauthorized access. It should also be able to demonstrate compliance with industry standards, including ISO 27001, SOC 2 certifications and facilities that offer physical and procedural security.