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In a time when technology is advancing at a rapid pace and a digital board management tool is now regarded as the norm, not the exception in corporate governance. Boards that are ahead of the curve are taking advantage of the benefits of such tools by shifting away from traditional processes that are based on paper and using board meeting apps to simplify the way they operate, manage information, and collaborate with colleagues.
A well-designed and user-friendly online portal for the board can help board directors and committees save time by eliminating the need for them to go through physical board documents or email threads to locate relevant information. It provides a single source of truth that makes it easy to access all relevant materials to prepare for meetings, organize tasks, and work with colleagues. Moreover, the platform can be accessed from anywhere and on any device, allowing you to keep up-to-date on information all the time.
Boards are responsible for a lot of confidential and sensitive information on a regular basis therefore it is crucial that the system they choose is equipped with additional security measures to protect the security of their data. Board portals allow users to store their files in an centralized hub and arrange them into folders, as well as adding passwords to each file to protect it from unauthorized users.
Also, search for solutions that come with an annotation feature. This allows users to create notes and share them in real-time with others. A permanent purge feature reduces risk by ensuring that deleted comments, annotations and discussions are not able to be recovered from any backup or server files. In addition, it is important to know whether the service you’re considering is investing in ongoing development and support. You can do this by analyzing their reputation on forums, company ratings websites, and LinkedIn to find out how responsive they are.
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