A modern board portal is an essential tool for businesses, allowing them to save time and money while also facilitating better communication between leaders. Finding the best solution can be difficult because of the many vendors on the market. This article will provide key questions you should ask potential suppliers in order to select the most suitable solution for your company.
It is vital that the provider of the board portal you choose to use is transparent about their plans and open to receiving feedback from users. This is especially crucial given the constant threat of cyberattacks that McAfe estimates cost businesses more than $1 trillion per year.
Find a portal for your board that is easy to use by everyone regardless of their tech skills. This will help administrators save time on training and onboarding, and will facilitate more effective board meetings. To simplify www.usboardroom.com/5-barriers-to-advancing-diversity-inclusion-and-equity-within-boards/ your governance process, select an online platform that has powerful dashboards, calendars integrations and electronic signatures.
Directors frequently make notes or annotations to documents they’re reviewing during the preparation of meetings. It’s essential that your board management software supports this, and it has the necessary audit trails to ensure that any future disputes are quickly and easily resolved.
Your board portal should include a questionnaire function to help you with your annual D&O processes, as well as COI surveys. These should be simple to use and provide a fast turnaround time for both members and administrators. Also, you should look for a system that can be permanently purge to ensure that any annotations and comments are removed from your portal after the meeting is over and the document is no longer required to be used.