Technology for Board portals can provide enormous benefits to the governance process, by reducing time-consuming tasks while enabling real-time collaboration and decision-making. Implementation requires careful planning and preparation to ensure a smooth, efficient transition.
Stakeholder buy-in
Include key stakeholders, such as directors or IT staff, in the process of implementation early to learn about their concerns and desires, and to help them see the potential of a portal. Involving them in the process will help to accelerate adoption and increase the chances of success.
Agendas for meetings and minutes management
A good portal will simplify and streamline the process of creating agendas for board meetings, as well as supporting documents, and then distributing them. This can save significant amounts of time, allowing more focused and efficient meetings and strategic sessions. It will also enable a more structured approach to document review and the ability for boards to vote in real-time eliminating manual processes.
Audits for regulatory compliance
In the course of regulatory audits A well-designed portal could provide important documentation that demonstrates the compliance of an organization with regulators. A detailed audit trail in the portal can show that the relevant information is readily accessible and that the process of creating and distributing meeting materials is in line with best practice.