Implementing Board Portal Technology
Technology for boards can bring tremendous benefits to the governance process, reducing time-consuming tasks and enabling real-time collaboration and decision-making. However, implementing it requires careful planning and thoughtful preparation to ensure a smooth, successful transition.
Stakeholder buy-in
Include important stakeholders, such as directors or IT professionals, in the process of implementation early to learn about their concerns and preferences and help them realize the potential of a portal. Getting them onboard will help boost adoption and increase the likelihood of success.
Agendas and minutes management
A good web-based portal will simplify and speed up the process of creating board meeting agendas, supporting documents, and then distributing them. This will help save a lot of time and allow for more targeted meetings and strategic sessions. This will also allow for a more structured document review and the ability to vote in real-time by boards.
Audits of compliance with the regulations
A properly-designed web portal can be a useful tool for demonstrating compliance with regulators during audits of regulatory compliance. A thorough audit trail within the portal will show that pertinent information is readily accessible, and that the process of creating and disseminating meeting materials is in line with best practices.
