It’s usually the Board administrator or secretary of the business who promotes the idea of creating a portal for their business. This is usually because they recognise the potential to increase efficiency and improved governance practices. They also recognise the time savings in reducing administrative tasks, especially those related to the preparation of documents. This is important as research has shown that document issues make up 21.3% of productivity loss in meetings.
It is vital that the platform you choose offers high levels of security. This includes encryption of data and adequate security permissions that comply with international privacy and security standards. Additionally, a solid audit trail is essential for meeting the needs of companies operating in controlled environments.
The portal provider you choose will also provide 24/7/365 customer support. This is particularly important for those who are new to portals for boards and require assistance navigating unfamiliar processes. Look for portals that have demonstrated track records in customer support and have been acknowledged by the industry.
The benefits of a well-implemented board portal are huge. They can assist you in reducing admin, facilitate enhanced collaboration, and ensure you’re in compliance with the regulatory requirements. In a world in which every dollar counts, your business must save as much as it can. Use our online calculator to figure out how you can save switching to the board portal.