The modern board of directors faces an unprecedented range of challenges and opportunities. As new technology reconfigures the global economy, organizations of all sizes are confronted with the imperative to adapt to the new business environment by becoming leaner and more digitally optimized. At the same time, new electronic communication tools open up significant cyber security risks. For many boards, the old ways of doing things simply aren’t cutting it anymore, and this is driving a search for new tools and technologies that can help boards respond in more fluid and coherent ways to the challenges of today’s world.
One of the most exciting new tools is portal software, which allows businesses to pursue creative solutions to complex logistical problems. Here are just a few ways portal software is helping boards improve their performance.
- Better Communications
Among corporate governance experts, it is a truism that the more connected board members are to each other, the better the board’s overall performance will be. Board members who share knowledge, troubleshoot problems, and bounce ideas off each other are more likely to act as a cohesive unit, which in turn makes them more effective at overseeing their organization’s interests.
With the latest portal software options, your board members can seamlessly share and annotate documents, ask questions, discuss data, and check in about deliverables between meetings. And because you can access board of directors software on your iPad from anywhere in the world, you can stay engaged with board business even when travelling.
- Enhanced Security
In the 21st century, it is impossible to have a conversation about communications technology that does not address the challenges of cyber security. Cyber attacks are one of the most significant risks facing business today, and every year data breaches, malware, and hackers cost the global economy billions of dollars. One of the greatest challenges facing board managers is how to utilize the best electronic communication tools without jeopardizing their organization’s cyber security.
The good news is that board portal software is not only a convenient tool, it is also a secure one: software providers like Aprio use the most sophisticated encryption protocols on the market to guarantee that any information shared within the portal can only be accessed by people who have been given clearance to access it.
- Improved Strategic Preparedness
Boards of directors play a number of vital roles within the life of an organization. Not only do they oversee operations and ensure that the executive remains accountable to the shareholders, they are also responsible for responding to sudden vulnerabilities or tactical setbacks.
Because portal software makes it possible for board members to instantaneously share sensitive documents quickly and securely, it dramatically improves a board’s emergency preparedness and capacity to strategically respond to issues as they arise.
If you are responsible for managing the operations of a board of directors for a corporation, Crown agency, credit union, or not-for-profit and want to ensure your team is equipped to meet the challenges of contemporary business, you should consider adopting new portal software. With portal software, you can help your board become more networked and collaborative while also making board communications more secure. This increased functionality will help your organization as a whole become more competitive in your industry, and more resilient in facing a rapidly changing global economy.