The board portal is an important tool in the governance of an company. It is used by boards, committees and executive leadership teams to improve meetings workflows, collaborate effectively with security features in place and to align on strategic decisions. It can reduce the time and costs spent on materials for boards. The multitude of board software vendors that offer solutions can make it difficult for organizations to pick the right tool. Comparing board portal software is a good way to narrow down your options. This includes evaluating security levels, desired board management tools and service/support quality.
Know Your Needs
Decide what is most important to you for your board portal. This includes looking at the number of board members and the type of information you will be sharing. From there, consider the features required to meet those needs (e.g. secure messaging, D&O questionnaire help, around-the-clock client support). This information can then be used to analyze boards portals and select one that best fits your company’s needs.
Evaluating the Security Level of Your Board Portal
Board meetings need to be conducted with the highest level of security, since they will be discussing sensitive and confidential documents. Look for a system which utilizes encrypted confidential files to safeguard your website from data theft and hacking. Additionally, a site that has an audit trail that allows you to track who accessed and edited documents.