With the right board portal software, a management board can improve governance and efficiency while collaborating in a secure environment. But how do choose the best solution?
Board portal for productive board collaboration
Today digital management software for executive bodies has become more popular in the corporate management process. A board portal is a state-of-the-art enterprise portal deployment platform designed to improve operational efficiency by creating a unified environment for employees to interact with business processes and providing access to the information they need.
You can choose between different providers for board portals and other governance technologies. The board portal industry is changing rapidly and you should be on the lookout for a provider who can offer you a comprehensive enterprise governance management solution instead of a simple board portal. Since management levels change rapidly due to the use of new technology and this technology contributes to the acceleration of processes, management bodies should look for a holistic solution that optimizes all facets.
The guide for choosing board portal: decisive criteria
Since there are many providers, we have summarized the most important questions for you when looking for a Board portal in the following important categories:
When it comes to deciding on a new digital solution, safety is the top issue for executive bodies. Hackers try to find holes in electronic security systems around the clock to gain access to a company’s systems. Often the activities of hackers go unnoticed and the company does not notice that its security precautions have been compromised. Security should always come first, especially in today’s digital environments. Board members have access to a company’s most confidential information and must not run the risk of that information being made public. Data security should always be a top priority in management and organizations must ensure that the vendors they work with do not worry about a potential risk If you want a secure solution, you need the latest security methods and encryption, not just another file management system. Vendors must take security seriously and continuously invest in it.
Some portals offer solutions to improve governance and efficiency. Software that is geared towards governance tasks can make executive committee collaboration more productive and secure – from viewing and signing documents to the possibility of voting and sharing notes with colleagues. The vendor chosen by the directors for their board portal should provide the appropriate technology to improve their governance practices. The provision of meeting documents, the implementation of votes, the implementation of assessments, the keeping of minutes, and secure communication – all of this should be possible from one location via a board portal.
If the software chosen by directors is not successfully adopted, the investment is in vain and they are more likely to lose security. For software to be accepted by its governing body, it must be accessible via a variety of devices. It has to be easy to use and support for the software has to be available around the clock. Stability and adaptability go hand in hand. With many board portals, downtimes can occur again and again due to maintenance work and updates. However, downtime of any kind can have a long-term impact on the value of technology. As part of their assessment, directors should ensure that no software (like online data rooms) crashes or extended downtime have occurred while updates are in progress.