Board portals provide a complete platform for directors and administrators to collaborate to plan for meetings and share information, manage tasks, and collaborate. They offer a range of tools to improve productivity, such as in-app messaging and task management, access to old documents and personal dashboards. This allows Boards to stay engaged with corporate governance and enhance the impact of their organization.
Switching from paper to a digital system can save a lot of time, money, and environmental resources. It also cuts down on costs associated with logistics, like printing and postage. This reduces the time and effort required to perform administrative tasks such as preparing documents for meetings, communicating with directors and disseminating documents. The time saved can be better used for other tasks that generate more strategic results for the company.
Using board portals for meetings can minimize the risks that arise from sharing sensitive information with other stakeholders. This is particularly crucial when it comes to keeping in compliance with regulatory agencies, such as the Securities and Exchange Commission. A well-designed portal is equipped with a comprehensive security system that is able to withstand hacking, phishing attacks and data leaks. It also features full data encryption and has granular security controls.
The ‘anytime, anyplace’ availability of portals allows directors to access the information they require from a variety of devices. It also allows them to complete tasks on the go, without disrupting their workflow or ignoring important updates. This gives them the freedom to make the most of their time and contribute towards the development of the company.
https://lifeboardroom.com/what-do-board-members-need-to-know-about-audit-committees/
