How Board Portal Technology Enables Boards to Work Smarter
Board portal technology lets boards work more efficiently, improving governance processes across all sectors and sizes. Board portal solutions are employed by businesses which are highly regulated for example, healthcare and insurance companies, to meet the regulations, while remaining focused on their business. Small business boards as well as other kinds of boards can also benefit from an efficient and seamless board meeting processes. This could lead to better governance and a more productive organisation.
Using a board of directors management tool reduces the need for physical meetings, which makes huge savings. A good portal will offer advanced tools to collaborate on meeting preparation and will result in time savings and improved meeting efficiency.
The best portals for boards provide an centralized hub for board-level documents, allowing to monitor the progress of actions items and allow board members to comment and discuss issues digitally. The discussion can take place in the portal, which helps to eliminate sensitive information that may be lost or found in personal email accounts. It also minimizes the chance of accidentally sharing confidential board documents.
All stakeholders should be engaged and committed to the implementation of the new portal. Everyone should be involved and dedicated to the implementation. A successful implementation begins with identifying two or three “board portal champions” within your company, who can help to convey the benefits of the portal and provide training for the rest of the team. The first step is to select these individuals and plan training sessions prior to the first meeting.