A board portal is a secure cloud-based application for sharing and managing documents related to board and committee work. The tools facilitate online collaboration and communication between members, and also support a variety additional functions, such as:
Many reasons have led to the widespread adoption of software for board portals that include security concerns regarding email attachments that could create real dangers as well as a need for more engagement from directors, increased work load for governance experts, and a desire to improve internal processes and minimize the risk. Commonly, board members who are already using board management software will request it from their peers or industry insiders.
Boards of directors that have adopted a portal for their meetings have seen significant improvements in the efficiency and effectiveness. More companies are increasing their use of this software as the number of users grows. To maximize the benefits, it is important to select a reputable board of directors portal provider that provides a dependable support service and an easy onboarding process. Begin the selection process by clearly describing the benefits of a software for managing boards solution to the key stakeholders. Identify and engage portal champions, usually from the board, to help launch the software and ensure success of the implementation. This is especially important for organizations with existing legacy systems that will continue to be used with the new portal.