The board portal is an essential instrument in the governance of an organization. It is used by committees, boards and executive leadership teams to streamline meeting workflows, and collaborate using security features and to align on strategic decisions. It also cuts down on the time and cost of physical board materials. It can be a challenge for businesses to select the right tool, as there are many software companies that offer board management. One way to narrow down your options is to conduct an evaluation of the software used by boards. This can include assessing the security level and desired tools for managing boards and service/support quality.
Decide Your Needs
Find out what is most important to you for your board portal. This includes assessing the number of board members as well as the type of information you will be sharing. From there, you can determine the features required to meet these needs (e.g. secure messaging, D&O questionnaire help, around-the-clock client support). The information gathered can then be used to analyze board portals and choose the one that best fits your company’s needs.
Assessing the Security Level of Your Board Portal
A high security level is a must for board meetings as they discuss sensitive and confidential documents. To ensure your portal is as secure as possible you should look for a system that uses encrypted confidential files to protect against data theft and hacks. Additionally, a portal that has an audit trail that allows you to trace who has accessed and edited documents.