Board portal technology allows boards to operate more efficiently, which improves governance processes across all sectors and sizes. Board portals are utilized by businesses that are highly regulated, for example, healthcare and insurance companies, to meet the requirements of regulatory agencies, while staying focused on their core business. Small business boards as well as other types of boards can also benefit from an efficient and smooth board meeting processes. This could lead to better governance and a more productive company.
Using a board of directors management tool can eliminate the requirement for physical meetings, allowing huge savings. Additionally, a top-quality board portal will provide the latest tools for collaborative preparation which results in time savings and increased efficiency in meetings.
The most effective boards portals let board members comment on and discuss subjects in an electronic format. They also monitor the progress of action items. The discussion on the portal removes sensitive information from personal email inboxes where it could be easily uncovered or lost, and also reduces the risks of accidental sharing of confidential materials for board members.
All stakeholders should be engaged and committed to the implementation of a new portal. All stakeholders should be involved and committed to implementing a. The first step to a successful implementation is identifying at minimum two or three “board portal champions” within your company who can assist in convey the benefits of the portal and provide training for the others in the team. Choose these individuals early in the process, and plan training sessions for them prior to their first encounter using the new portal for board meetings.