It’s often the Board administrator, company secretary or assistant to the chairperson that promotes a portal system for their organisation. Most often, this is because they see the potential for better governance and increased efficiency. They also recognize the time savings that can be realized by reducing administrative tasks. This is vital as research has shown that document issues account for 21.3 percent of the productivity loss in meetings.
It’s essential that your chosen portal platform provides a high level of security. This includes encryption of data and appropriate security permissions that satisfy the international standards for privacy and security. A robust audit trail is vital for businesses operating in highly regulated environments.
The portal provider you choose should also offer 24/7/365 support. This is crucial for those who are brand new to portals for boards and require assistance with navigating unfamiliar processes. Choose a portal that has a proven track record in customer support, and have been acknowledged by the industry.
The benefits of a well-implemented board portal are immense. They can reduce administrative burden, improve collaboration and help you stay in line with the regulatory requirements. In a world where every dollar counts, your company must save as much as it can. Utilize our online calculator to see how much you could save by switching to an online board portal.