A board portal allows for the secure electronic exchange of information between board members, administrators and company management.
This need has evolved as external board members are not typically part of an organisation’s internal computer network and so an independent solution is required.
The board portal should be a secure workspace devoted exclusively to the board and managed by those staff assigned to serve as the interface between the board and the organisation. It should offer the instant distribution of board and committee meeting documents to directors, which they can securely download for offline reading.
A self-service reference library can provide directors with 24/7 access to past meeting documents and minutes, charters, policies, investment portfolios, press coverage, regulatory and legislative updates, and reporting.
Typically, the portal includes encryption to protect the organisation’s data against unauthorised access – especially on mobile devices – and security controls that keep members’ communications with each other private. It should enforce the document retention policies, not record directors’ activities and allow for the organisation to remotely wipe any directors’ annotations once the meeting has been held. The portal also includes tools that greatly reduce the time and cost of producing and managing board materials and scheduling board work. Interestingly, it has become common practice for management teams to use their own version of a board portal as they seek to add greater governance to their meetings and increased security for sharing and collaboration on documents, especially on mobile devices.
If you would like to learn more about board portals, please contact us now to find out how BoardPad can help you and your organisation.