A board portal is a secure, online platform that provides access to all the tools and information required for efficient board meetings. It lets board members work anywhere and on any device and also facilitates collaboration through a simple and intuitive interface. It also comes with strict security measures like two-factor authentication as well as full encryption to secure sensitive information and communications. Some portals provide full support and training services, as board portal solution well as regular updates.
In addition to facilitating access and collaboration, board management software assists meetings by making it easier to plan agendas and real-time sharing of documents during meetings. Meeting documents and board books are automatically synced with every device, ensuring that everyone can review the most current version of the document at any given time. It allows for streamlined voting, action item tracking and audit trails that are detailed to ensure compliance with the regulations.
A board of directors at a credit union, for instance could use a portal to develop an operational plan and improve organization oversight by reducing risks and ensuring compliance. The board is also responsible to ensure that all stakeholders know the mission and vision of the organization, and that each decision is made in line with these objectives.
A board management portal improves the effectiveness of a credit union’s board by removing the need to distribute paper documents. This saves valuable administrative time and resources, while increasing the level of engagement and transparency. It also helps mitigate risk by reducing the necessity for paper records and storage that could be easily compromised by cyberattacks, or physical theft. Boards can spend more time on strategic plans and looking ahead to future problems.
