Board portal: 3 challenges currently faced by professional boards – and the solution
The evolution of the digital age has changed the perception of how we communicate and collaborate – also in the boardroom. Today, a board portal is a “must have” tool for professional boards.
Since working with professional boards includes documents and information being uploaded, downloaded, discussed, reviewed and signed – using a board portal can optimize this whole process. The platform enables secure, professional and efficient sharing and access to sensitive documents as well as collaboration for board, management and other related user groups. But what are the challenges at hand for professional boards today, and how do you know whether your company could benefit from a board portal?
If your company is currently facing at least one of these three challenges, then your company will benefit a great deal from using a board portal in their daily board work:
1. Your company “waste” a lot of time and money on administrative tasks related to meetings and board activities
Many companies today are spending too much valuable time doing administration tasks. And many lack a common platform to support board activities, communicate with board members and where board members can make/share notes, prepare and view historic information.
The solution: The benefits from adapting a board portal come both before and after a board meeting. Administrative staff can schedule meetings and share board document packs with their board members. Board members can use the portal to make and share notes, vote on important issues and view historic information. The documents are always available, online and offline, in a secure, user-friendly solution via the web, iPad or iPhone app. In summary, there is no doubt your company will get more efficient.
2. Your board communications rely on paper-based processes
The administration and board members in your company print a lot of materials before attending a board meeting. This is both expensive and time-consuming for your company.
The solution: With a board portal, an electronic board pack can be as thick as it needs to be, yet not a single page of paper will be wasted. There is no doubt your company will save a lot of time and money.
3. Your company lacks a secure platform to share and store sensitive information
Does your company still communicate and share sensitive information through emails or other unsecure channels? In the current and future monitored digital environment, keeping your forecasts and company secrets to yourselves is essential. Now to an even larger extent than before.
The solution: With a board portal, you are in complete control of the distribution process, everything takes place within a secure and encrypted platform, only accessible for the users you invite in. No more accidentally misdirected emails or board documents lost in the mail or elsewhere, and everything is kept to your eyes only.
Read more about how a board portal can help you to work more efficient, paperless and secure in this new digital landscape.
Download our new White Paper to learn more about what a board portal is, how to smoothly implement it to your organization, and what to look for in a board portal provider.