Board portal technology allows boards to be more efficient, enhancing governance processes across all sectors and sizes. Heavily regulated businesses like healthcare and insurance companies have board portal solutions to assist them in meeting the regulatory requirements while remaining focused on business development. Other kinds of boards, like those for small companies, also benefit from a smooth and effective board meeting process that can result in enhanced governance and a more efficient company.
A board management software can eliminate the requirement for physical meetings, and save you lots of money. A high-quality website will provide the latest tools to collaborate on preparation that will result in time savings and increased meeting efficiency.
The top board portals offer an centralized hub for board-level documents, with the ability to monitor progress on agenda items and allow board members to post comments and discuss topics electronically. The discussion on the portal eliminates sensitive information from personal email inboxes where it is easily discovered or lost, and also reduces the risk of sharing of confidential documents for the board.
It is important to ensure that all stakeholders are included and committed to the implementation of a new portal. A successful implementation starts with identifying one or two “board portal champions” within your company and who will help inform stakeholders about the benefits and offer training for the rest of the team. At the beginning of the process, identify these champions and schedule training sessions prior to the initial meeting.