The risk of losing paper board packs is real. You may lose a pack on the way to a meeting. It may be stolen from your bag. Someone may intentionally tear out pages from the pack or it can be simply misplaced by a courier. Electronic board portals were developed to eliminate this risk and ensure security and peace of mind. The transition from paper to digital has accelerated in recent times as company secretaries and leadership strive to be diligent with board documents.
What is an electronic board portal?
In the simplest terms, a digital board portal gathers data electronically and transports it securely to a server where designated individuals can access and store the data on a device of their choice. That means that your company’s directors can view documents and meetings online or offline from just about any location.
A feature rich board portal will allow you, among other things, to record votes, share and store key company information in a dedicated place, and annotate documents. Top-of-the-line solutions like BoardPad also offer multi-lingual support. Essentially, a quality electronic board portal can align with your existing processes and help streamline them to maximise efficiency.
What kind of security must be in place to stay diligent?
With paper board packs, human error is a concern. Electronic board portals have to address the risk of human errors, as well as hackers. The good news is that they’re up to the task of providing the level of security not possible in a paper environment. Consider BoardPad : it offers high-grade data encryption, individual document password policies and data delete options in the event of loss or theft. Other security measures include email and printing restrictions for certain individuals and restricted access to sensitive documents at specific times. With advanced security features and options in place, you can get more done, be as geographically diverse as you want, and avoid getting into panic mode during data loss/theft.
Building a business case for an electronic board portal
The costs associated with the leakage of sensitive company data can be huge. In a situation where your company’s financial results are revealed before the scheduled official announcement, both stock price and company reputation may be affected. An electronic board portal’s security objectives of confidentiality, availability and integrity make it a worthwhile investment to stay diligent.
If you would like to learn more about addressing the security and business case for an electronic board portal, please feel free to contact us now to learn how BoardPad and Connect help deliver electronic board packets confidently and securely to your Board.