If you’ve researched board portals, you know how much easier they could make your life as a board director. While you are in the loop of the benefits that board portal technology can afford your board, the rest of the board may not yet be able to fully appreciate how implementing board management software solutions can revolutionize your board. The question is, how can you make a convincing case for your company to invest in a quality board portal system?
It’s probably easier than you think. Spend a bit of time organizing the facts and prepare a nice presentation. Schedule some board meeting time to educate the rest of the board on how a board portal will benefit them and leave plenty of time for questions. Be sure to point out how a board portal will benefit your board in time, cost and security, now and in the future. The following information will help inform your presentation.
Racking Up the Benefits and Features
Once you outline the many benefits of a board portal system, it will be easy to convince your board that they can’t function without a portal any longer. A board portal system essentially digitizes all the important aspects of board governance. It eliminates outdated, painstaking paper processes. Board meeting management software saves material and labor costs, as well as the wear and tear on office equipment. The portal will streamline many of your current processes and free up time for strategizing and tending to risk management activities.
It will help your board to cut down the process of creating board books from weeks to hours. Even better, a board portal will enable your board to stay continually updated even if there are last-minute changes to the agenda or the board book.
A board portal will bring security to your board communications and collaborations. A board portal system by Diligent will allow your board to access board materials at any time, anywhere they happen to be, and your board can access them using any of their mobile devices. More importantly, a board portal system will bring your company into the modern age – your competitors are probably already there. Diligent’s board portal system will address all of your current board needs and take your future needs into account with new and innovative products.
Diligent builds the strongest security features right into the portal. That means that you’ll have less reliance on your IT teams and less worry about cybersecurity, which is a major concern for every company. The software takes full advantage of automatic notifications to alert you to the most updated, accurate information.
Presenting the Top Choice and an Industry Leader in Board Portal Technology
As long as you’re making a presentation, it only makes sense to present the best board management portal system available, and that is Diligent Boards by Diligent Corporation, a leader in board management software systems.
Diligent Corporation revolutionized the way boards create board books. Diligent has always been an innovator with an eye on the future of corporate governance. Your board is aware of its current needs. It’s essential in this age for boards to be forward-thinking. Diligent Corporation paves some of that ground for your board.
When you choose to go with an industry leader, you won’t have to worry about changing software midstream as evolutionary changes take place in the marketplace. The future of boards will almost certainly require boards to employ board software solutions to support good governance.
A quality board portal system is a fully featured system with strong security and one that integrates other digital governance tools. Diligent is already ahead of the game with products such as D&O questionnaires, self-assessments, digital voting tools, meeting minutes software, entity management, nominating tools and intelligence programs. In addition, Diligent stands by its products with around-the-clock support every day of the year.
Security Is a Major Factor in Quality Board Management Software
There’s little doubt that your board is concerned about software security. Diligent’s programs are designed with built-in robust security features. Board administrators have full control over security features, such as granular permissions, different password strengths, user restrictions, lockout policies, and options for exporting and printing documents to help keep your board’s information confidential. Diligent also offers backup procedures to ensure total protection of your data. In comparing board portal systems, it’s essential to consider that Diligent provides continuous penetration testing, rather than occasional or annual penetration testing.
It’s also worthwhile to point out that cybercriminals are becoming more sophisticated with time. There is much concern that they’re positioning themselves for global disruption. With this in mind, it’s important for boards to work with board software providers to work on cybersecurity measures internally as well as externally. Be aware that many security problems begin inside the company with employees, either intentionally or unintentionally, and your software provider should be able to help you set up the proper controls to prevent data breaches regardless of the source.
Board Portal Benefits in Preparing for IPOs
If your board has been planning for an initial public offering (IPO), you are in a crucial planning time. Why not take advantage of the strong security that board portals provide to reduce many of the risks that commonly accompany the process of taking a company public? Top security in electronic communications will ensure that your board communications and documents remain confidential until your company is ready to release them to shareholders and to the public.
There are huge benefits in implementing a board portal system for companies looking to take their company public. The portal serves as a secure online gathering space where auditors, underwriters, legal teams, owners and board directors can collaborate and ask questions within the full security of the platform. The portal provides plenty of cloud-based storage to gather and organize the host of legal documents that are necessary for the company to go public. With the benefit of real-time updates, all parties will be able to access the most current documents at all times.
Remember that all board portals are not created equally, so when you make your pitch, be sure to pitch Diligent Corporation, the industry leader in board management software.