Boards need to have access to real-time information as soon as possible to make timely decisions and formulate relevant strategies applicable to the immediate situation at hand. But without access to the freshest information as it becomes available, directors will not be able to adjust their plans accordingly to accommodate last-minute developments. By the time they take into account these adjustments, the changes may no longer be relevant because yet another development has taken place.
As new information that is critical to decision-making can sometimes appear unexpectedly, these instances must already be prepared for within an organization’s internal communication and information dissemination structure.
Utilizing the Power of Technology
The potential of this scenario opened up to boards in the boardroom and asked the question on what they could do if they always had complete access to the latest documents of their organizations at any given time?
Boards are responsible for making decisions and formulating strategies, but for these decisions and strategies to be effective, directors need to get the latest information to make timely actions.
The Innovative Solution
This is where an innovative software called a board portal has started to become more popular in boardrooms of organizations around the world. What is a board portal and how does it work? Well, basically it is a software that not only allows for directors to meet and collaborate with each other virtually, but also functions to give them the latest information for better governance and decision-making.
A good board portal software provides directors instant access to the latest versions of meeting files, so wherever they may be, they can stay updated on all developments happening in their organization, whether expected or unexpected. All they need is a mobile device and Internet connection, and they’re set. But even when they’re offline, they can still view downloaded documents, so they don’t have to be reliant on the Internet at all times.
Need for Real-Time Collaboration and Information
This software also facilitates real-time collaboration. Directors can go online and work on documents together, enabling them to make critical and time-sensitive decisions even if they happen to be miles apart. Emergency meetings can be called anytime as well because directors can join remotely, eliminating the need for them to be physically together in one room. In terms of security, the software uses enterprise-grade encryption to keep information in storage and transmission safe from unauthorized access, so both remote meetings and virtual collaborative sessions are safe spaces in which directors are free to talk about confidential matters.
With such a powerful tool as a board portal software, directors will have everything they need at the palm of their hand — literally. This is a good way to empower directors, and have them practice the pillars of good governance.