The right software for your board can transform the way your board works and ensure that governance functions are conducted efficiently and effectively. Selecting the right board portal is a careful evaluation of a number of factors.
First and foremost, it’s important to determine what your needs are at each stage of the board cycle. Certain organizations have a specific workflow that is unique to their needs at every point of the board cycle, while other are simply looking for a simple method to improve their efficiency and effectiveness in governance.
A board management solution is an example of a tool which allows users to create and edit documents. They can also insert annotations and links and share them in real-time from any device. It allows members to work on important files even if they live in different locations and countries. This also means that paper copies are not needed that may be lost or shuffled in transportation.
It’s also critical to select a board portal that is safe and secure. Many of the best options come with a variety of security features, including multi-factor authentication, biometric scanners for access enhancing M&A efficiency with digital solutions to data centres and data encryption, all of which help to defend against cyberattacks. This assists in fulfilling the duty of care a board has to fulfill, as well as protecting the business from costly legal action, in the event of any breach of confidential data.
It’s important to check that the company provides training and support for your board, so they can get up and running in a short time. It is also important to consider the ease of use of the software and whether it will suit the needs of board members.
