Have you recently decided to implement board portal software, or replace the solution you already have? Then you’re in luck. This article is designed to help you choose a platform that will ensure your board works more efficiently and securely.
Armed with a series of expected features and important questions to ask, you’ll be in a better position to review the solutions on the market, and start enjoying the benefits of a market-leading board portal.
Remind me, what is board portal software?
Board portal software (also known as board management software) is a secure digital platform for board work. It can be used for document sharing, communication, facilitating meetings, and accessing board documents both online and offline.
Board portal software replaces traditional paper-based processes, large volume printing, and insecure communication via email.
For a more detailed understanding of what a board portal is and how it can help your board thrive, we recommend checking out our guide, What is a board portal?
What board portal features should I expect?
Not all board portals are created equal. The amount and complexity of features will vary according to how advanced your chosen solution is. However, you should expect the following:
- Easily and rapidly create agendas and board packs
- Communicate or chat securely
- Create minutes and assign actions
- Enable e-signatures for remote sign-off on decisions and minutes
Other useful board portal software features include:
- Access controls and user permissions
- User activity tracking
- Approval process and workflow control
- Secure document storage and retrieval
- Calendar management
- Compliance management
- Collaboration via commenting and notes
- Automated reminders for meetings and actions
- Secure file sharing
- Offline access
- Multi device compatibility
- Easy document search and archive
- Document version control
What security features should a board portal have?
One of the most important things boards need to consider when buying a board portal solution is the ongoing threat of cyberattacks, which according to McAfee, cost businesses over $1 trillion annually.
The issue is particularly important for boards because directors and C-level executives are among the favourite targets of malicious hackers. This is hardly surprising given the highly confidential nature of the information they possess.
For this reason, the board portal your organisation adopts should include:
- Ringfenced communication via secure channels within the portal
- Secure storage for all current and historical documents
- Electronic signing for remote approval of board documents
- Compliance with GDPR
- Two Factor Authentication to restrict access and ensure stringent user verification
How to ensure the board portal prioritises security?
When assessing board portal software, it’s important to ask a number of questions. This helps you ensure the solution has the right measures in place to keep important documents and communication completely safe.
These questions should include:
- Is all data that travels within the portal encrypted?
- Where is the data stored?
- Are there backup servers?
- Has the board portal supplier’s security ever been at risk?
- Does the board portal mobile application have a shield against hackers?
- How often does the supplier conduct third-party penetration and security testing?
- Does the supplier have designated resources for security & privacy?
- Is the board portal software regularly audited by independent & respected auditors?
- Does the provider have a two-factor authentication log-in system?
- Does the portal provide ID based authentication at the highest security level?
- Is the board portal fully compliant with the EU General Data Protection Regulation (GDPR)?
The right supplier should be able to provide evidence in the form of accreditations or certifications, to give you peace of mind about their processes.
In conclusion
Modern board portal software is a must-have for organisations that want to improve the efficiency and quality of senior level communications, while saving time, money, and keeping confidential documents secure.
Asking the questions mentioned in this article will help you to establish whether your chosen supplier will be able to meet all these requirements. The answers you receive will provide an excellent indication of whether the solution is not only a good fit right now, but for a long time into the future.
